10 Quick Tips About Business Development

I am often asked to share my top tips for business development—and I am flattered! Business development comes so naturally for me, that I forget it’s not a common skill amongst professionals. 

So today, I am sharing my top 10 business development tips. I hope they help you in your quest to master networking and building relationships! 

 

Tip #1: Business development is different from sales

I am hopeful that most of you already know that business development is different from sales, but I will continue to say it for those in the back of the room. Business development is about building long-term relationships. You are creating strategic partnerships, focusing on the clients’ needs, and selling solutions or making connections to help solve their problems.

On the contrary, sales is short-term and transactional. For most professional service firms, business development helps build relationships with prospects that enter into your sales process, to eventually be closed by a sales professional.

 

Tip #2: Remember the ABC’s of business development

Business development is about Attracting prospects, Building relationships and lists, and Closing business. When in doubt, remember the ABC’s and get your strategy back on track!

 

Tip #3: Connect and focus on your soft skills

When you are developing business, focus on your soft skills to build meaningful relationships. Start by being curious and asking great questions. Listen more than you talk—people love to talk about themselves and you will make a better first impression this way! As I always say, “be interested, not interesting.”

I also like to think of the scenario of an ideal doctor and their patient. You want to connect with your prospect, learn what is frustrating them, show that you genuinely care, and help them find the solution. Sometimes the solution will be your product or service, and other times it will mean referring them to someone else. In the end, your goal should be to be helpful and authentic.

   

Tip #4: Be a consultant and a partner – DON’T SELL

People like to buy—they don’t like to be sold. And they buy based on emotion. Make them feel good about your product or service so they come to you asking for your business.

Remember that this can take time. People prefer to buy from people they know, like, and trust. If you build trust over time, you will have a much higher conversion rate.

Last but not least, remember that clients come to you for solutions, not features and benefits. Get to know the why behind what you’re selling and offer your value first.

 

Tip #5: Build your brand

The key to successfully develop business is to build a brand for yourself. Sure, you can cultivate relationships with lots of people, but if you do not have a strong brand no one will know what you do or how you can help them. Take the time to know your why and how you are different. Write out your elevator pitch, practice it until it’s perfect, and then translate it into your online profiles. Then, start posting on social media regularly by telling your story and sharing your expertise.

 

Tip #6: Understand who your prospects are and where you can find them

If you are unsure where to find your prospects, start testing different options in your industry. For example, you can attend trade association programs and conferences. You can try different networking groups and events in your area. And you can even use the LinkedIn search feature.


 

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