Biz Dev Tactics “That's sooo Biz Devvv....” -Nam With clipart Presentation by: Alex Taub (@alextaub) With help from Eric Berdinis (ericberdinis)
What is Business Development? Business Development consists of three main things: It is the process of marketing, selling, and developing strategies for your company. The job is to strengthen ties with existing partners and create new ones. The goal is to get to the point of transaction and get repeat customers (which turns into sales). Story: How I got into Business Development.
What is a typical day in BD? Hustle in the morning. Hustle in the evening. Hustle at supper time. There is no typical day. Next question. Story: What I did today.
Digital Identity The best business developers are easily accessible (via the internetz) and allow good things to come their way. Creating visible profiles: LinkedIN, Hashable About Me Twitter, Facebook, Foursquare Tumblr(and/or blog) Other early adopting platforms (Instagram, Turntable, etc) Story: How I got someone to integrate Aviary API from Turntable.
BD Vision There is something I call BD Vision. It is the ability to see how to link things/people/opportunities. Knowing that if you connect this person/company or that person/company something magical will happen. Your mind needs to "always be on." Story: Connecting friends.
Networking Some things to think about: Figuring out the right events to go to. Using social media/digital identity to SCALE networking. Pre-gaming networking events by doing recon. Making use of your time at the event. Staying focused and finding the people you have pre-identified. Going with the flow and meeting new people. Following up after an event and keeping in touch. Reaching out to people you wanted to meet but didn't get have a chance to. Story: Digital Networking Executives event list story.
Only as good as your last trade. That's a quote about Wall Street and trading. Same applies to BD. You may have closed a great/big deal but you need to keep closing... you should never feel content. Always Be Closing. Story: Classic BD sayings.
Following Up, Reaching Out, Corresponding, Favors It’s a learned art. It's all about the relationships. Keep follow-ups and reaching-out short. Five sentences total. The shorter the email the higher correlation to response. In reaching out- get to your "ask" quickly. Corresponding: correspond often, keep relationships warm. Favors: Always giving and taking.
Getting Rejected It is not only OK to get rejected- I wouldn't want to hire or work with someone who didn't thrive on getting rejected. Getting rejected sucks when you start. Then you begin to expect it. Then you love it, you thrive on it. Getting a no, makes me want to get five yes's.
Try to get rejected every day. You eventually become numb to being rejected and become a better seller/closer because of it. Story: Applying to Wall Street sales and trading- junior year of college.
Tools To Make Yourself Better - hub for your digital identity. - be a part of the conversation, connect with like-minded people there. - after you meet someone, keep tabs on them by connecting there. - keep all contacts on gchat, easier to communicate. - great way to keep track of what BD team members are up to. Story: Launching effects API and talking to press on gchat.
Conclusion Coffee is for closers. Get out and start closing.