build boston 2009 bd new econ
TRANSCRIPT
Kathy McMahon, Director of Marketing and Business Development, CBT Architects
Gary Pease, Principal, Nitsch Engineering
James Koloski, Business Development Manager, RDK Engineers
Katy Redmond Emmott, Fox RPM
B12 Business Development For The New Economy
Principal/PM Business Development
Start with the assumption that your company is qualified – you belong there – be confident
If you like making and keeping friends (and you are good at it), and you are organized, you should be doing more BD!
People want to work with friends and generous with friends…makes work more fun.
Can you do BD in 20%-30% of your time? Why not? What’s stopping you?
From the Principal’s office
Where can you meet/see more BD folks/Principals of client firms and referral firms??
Join a lead exchange meeting
Invite someone to coffee, lunch, cocktails, dinner, concert, sporting event, etc.
Attend Conferences/Events/Golf – be seen
Prepare and organize presentations – present and show your technical worth – to clients – maybe provide learning units!
Other important points/reminders
Find common bonds: music interests, sports, kids, charity, church, etc.
Remember that generosity begets generosity – but it has to be genuine to really work. Think first of others…It will come back to you.
Don’t EVER keep tabs – EVER!!!!
Keep confidential leads confidential
Keep in mind that something that is not interesting to you is probably interesting to someone else.
Other important points/reminders
Make sure your company sees the value in you doing BD – sometimes takes awhile to develop – set clear goals – be realistic
Respect all parties – Principals/BD/PM, etc…
Stay involved in projects – often the best BD you can do!
Force yourself to make the time to have this be part of your job
Need to be able to compartmentalize – effective time management
Make it fun – you get to choose who you’re doing BD with!
Be patient!!
Plan, Plan, Plan
Make the time to plan every day - 20 mins. every morning - 30 mins. at the end of the week - 1 hour at the end of the month
Reserve time to get BD done - Block out time in Outlook - Treat it like any other meeting, take it seriously!
Clearly define who to contact and end results - Who: decision makers/connectors - What: Value Proposition - Know your objective before you call
Fish Finding
Get Involved!
Industry Associations - Attend events - Join committees work towards the board
Never Eat Alone - Breakfast, Lunch, Coffee
Reach Out and Touch Someone - Call, Email, Hand-write a note
Toot Your Own Horn - Linked In Updates, Twitter, Speaking Opportunities, Write an Article
Fish Finding
Get the Fish In The Boat
The Difference Between:
• Business Development
• Marketing
• Public Relations
Where are you in the cycle?
It’s all about balance
What’s new in this day and age?
BeforeBefore
1. Team
2. Experience
3. Fee
4. Risk
What does this mean for your marketing?
Now
1. Risk
2. Fee
3. Experience
4. Team
Do I Stay or Do I GO now?
Smart Go/No Gos:
• Is this within our business goals?
• Can we make money?
• Does the opportunity have a champion?
• Do we have existing relationships?
• Can we be in the top 5?
• What’s the short and long term impacts?
Differentiate – Everybody’s doing it
Establish client and project Hot Buttons, especially in current day conditions
Pick up the phone
No boilerplate!!!
Be specific and memorable – why does xyz matter?
Tee up the Interview
#1 reason why you win an interview
ChemistryYou can affect chemistry
Don’t try to cover it all, only the most important points
Opportunity most often blown here – don’t under estimate the need to TRAIN, PREP and REHEARSE
Getting someone to switch is really difficult.
Getting someone to switch because you offer more of what they were looking for when they choose the one they have now is essentially impossible.
The chances that you can top a trusted provider on the very thing the provider is trusted for are slim.
Instead, you gain converts by winning at something the existing provider didn't think was so important.
Seth Godin
Can’t touch this
Seek feedback
Be gracious
Refer others
Keep an eye on it!
Whether you win or lose…
The Client Service Factor
What is the difference between “nice tohave” and “need to have?” Good and great?
Having a supporter and having a champion?
Client Service
The Client Service Factor
The 80/20 Rule
80% of your business is coming from 20% of your clients.
Use this metric to focus
Identify your best clients and find the champions
Don’t take any client for granted—it’s much harder to win new business, and there is always someone in the wings
Slice 1
Slice 2
The Client Service Factor
Make client service part of your standard business practice
Schedule action
Principal to project staff
Build real friendships
A good relationship
doesn’t have to be exclusive
The Client Service Factor
Client Service and Business Development for all project staff
How good relationships = growth
Listen
Be proactive
Make your client a hero
Free stuff?
Stand in their shoes
The Client Service Factor
Customer Satisfaction – No Surprises
Feedback
Principal involvement from beginning to end
Open communication
1. Do what you are comfortable doing. Have fun. 2. Generosity begets generosity but be patient for payback. 3. Know where your clients go and be there too. Out of sight is out of mind.4. Do something extra every day – make the extra call or send the extra email, post an
update on linked in or send a tweet. 5. Plan, plan, plan – block out time on your calendar where you make calls and have a list of
calls to make.6. Know the difference between BD, marketing, and PR and have a balanced approach.7. Make smart go/nos – don’t waste time or money.8. Identify hot buttons and specifically address throughout all steps in the process. 9. Encourage client service activity/awareness by staff at all levels – Principal to Receptionist.10. Schedule client service actions. Find ways to add value for your client and to the
relationship before, during and after the engagement.
Build Boston workshop 2009 (Kathy McMahon, James Koloski, Gary Pease, Katy Emmott)
Top 10 BD Tips for the New Economy