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Three keys to business development in 2014

By: Leo MacLeod//January 6, 2014//

Three keys to business development in 2014

Leo MacLeod//January 6, 2014//

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Leo MacLeod
Leo MacLeod

As I launch into a new year of coaching and consulting, I’m evaluating what really matters in successful business development. There is a lot of great information out there, but I’ve found that the three essential keys to winning work are focus, attitude and discipline.

Focus

Here’s the reality: Most of us who have to sell the work and do the work, have to be wise about how we spend our time selling. What are the best opportunities that are going to advance our business? Who are the people we need to be in front of regularly?

It’s very tempting to lunge at any opportunity that comes within our view, no matter how small or off target. But with every piece of business there are opportunity costs. Since time is limited, what is being sacrificed by chasing small dollars?

Let’s say you have done some planning and determined that health care should be a prime target. You want to aim high by securing work with the largest organizations. Getting to know the right people and doing what’s necessary to put yourself in the right position – attending conferences, networking, researching continually and becoming educated about critical technologies – requires focus.

We lose time and focus when we spend time on any RFP that comes across the desk or take on projects we regret because we tell ourselves any money is good money. It takes time for those larger opportunities to happen, so there’s a balance between doing what’s necessary right now and what’s important over time. When we focus on the biggest and best opportunities over time, we grow credibility and top-of-mind awareness when the time is right.

Attitude

Selling is hard and draining. Those people who do it full-time and are successful have something that most of us lack: a perennial positive attitude. They don’t see rejection; they see a challenge.

I was at a holiday function and bumped into a business development manager for a construction company. He was totally distracted by whether he was going to win one of eight raffle prizes. I just wanted to get a beer and relax. There was nothing he could do about the outcome, but his competitive drive was palpable. When they drew names, he won three of the eight items. For a moment, it seemed like his attitude had made the difference. He wanted those prizes, and his drive to win seemed to separate him from the rest of the attendees.

No matter how you might actually feel about networking or selling, you’re wasting your time if you don’t bring a positive attitude to every encounter. Mark Edlen of Gerding Edlen Development says people don’t want to hear how tough things are; rather, they want to hear good news and what you’re excited about. Counting small wins, positive self-talk, surrounding yourself with positive people can help you maintain the right attitude to win work.

Discipline

New Year’s resolutions are as disposable as confetti. We like to make them, but rarely follow through. Woody Allen said 80 percent of success is showing up, and that’s true of sales. You don’t succeed if you’re not trying and doing the work to get the work. What’s required is developing a business development habit, and that takes time to ingrain into a schedule.

First, it’s good to set realistic goals for every week. A lot can be done in 10 minutes: researching a prospect, writing a thank you letter, forwarding an article of interest, reaching out to set up coffee with a colleague, or reviewing past activities for follow-up.

Everyone has 10 minutes in a week. The key is doing it consistently, and that’s where scheduling is important. Mark time on the calendar to do the work. We find other things that are more pressing, but to be successful we need to be disciplined to take the time.

Personally, I find it more achievable if I give myself reasonable milestones within a week. If something comes up (and it always does), I’ll rearrange my schedule to make sure by the time the week is done, I’ve checked it off my list.

Having action items in front of you and reviewing them every morning means they won’t be forgotten. I have a weekly phone call at 10 a.m. each Monday with four other consultants to look back on my progress from the prior week and schedule my upcoming week. I get strength, encouragement and ideas from my support group.

Every two months, I Skype with a colleague for two hours to revisit my progress on long-term goals and problem-solve current challenges. The colleague isn’t in my business, but he has something I admire: he’s disciplined and consistent.

This past year was my best ever, and I’ve concluded that focusing on the best opportunities, keeping a positive attitude and making time for business development are the three key factors that drive success.

Leo MacLeod is a leadership and business development coach and a strategic consultant. Contact him at [email protected].



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