Effective Networking and Business Development Skills

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THE YOUNG DUBLIN SOLICITORS (YDS) Effective Networking and Business Development Skills by Peter Cosgrove Cpl

THE YOUNG DUBLIN SOLICITORS (YDS) Effective Networking and Business Development Skills by Peter Cosgrove Cpl

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  • Welcome Who am I My wife is a lawyer as are lots of her friends My background in Pwc – charged out at 120 per hour – could not u/s how Asked to sell and win business – very daunting
  • Referrals work! Think about this from the recruitment industry point of view
  • Story on selling – will someone sell to me now
  • It is said the brain starts working the momebnet you wake up and stops the moment you stand up in public
  • Referrals work! Think about this from the recruitment industry point of view
  • You will see this research again and again = the current supplier gets lazy or complacent Think of the word “indifferent” it does not necessarily mean a bad job is being done its more the connection with the supplier
  • You will see this research again and again = the current supplier gets lazy or complacent Think of the word “indifferent” it does not necessarily mean a bad job is being done its more the connection with the supplier
  • You will see this research again and again = the current supplier gets lazy or complacent Think of the word “indifferent” it does not necessarily mean a bad job is being done its more the connection with the supplier
  • not
  • not
  • So to reiterate don’t get me wrong I love technology just looking at an alternative view…
  • Ultimatum The ultimatum game is a game often played in economic experiments in which two players interact to decide how to divide a sum of money that is given to them. The first player proposes how to divide the sum between the two players, and the second player can either accept or reject this proposal. If the second player rejects, neither player receives anything. If the second player accepts, the money is split according to the proposal. WWTBAM PASSPORT story Given I don’t hear these stories very often I quickly realised the details HE was a money lender or a heavy The amount in question was 2k The guy in my end of the phone was not interested in excuses And as he lowered his voice even further so I could just make out the conversation he was clear what would happen if the money was not repaid – its hard not to be some what intrigued by this while also feeling sorry for whoever was on the other side of the phone! When my number came I had a Mr bean moment where I tried to get up and fell back again – who came to my help but yes you guessed it the guy on the phone and all I hear as he assists me is “isnt that lovely, chivalry's not dead yet” If only she knew! So we are not easy people to work out and that is our job and our skill
  • After a bit of research I realised this was only the tip of the iceberg and I came up with this list So don’t be alarmed but lets start by remembering this There is access to so much information about there right now – when are you going to have time to read any of it!
  • Our fears: No one knows me I do not know what to say I don’t know a single person here Everyone else is having a great time Is my badge on the right side Am I meant to sit down now or later or get a table No one will talk to me I will have nothing to say I don’t know how to go over and talk to people I always get stuck with the idiot I find small talk really difficult I don’t know why I am here Put these on a flip chart with as a second column – what's the worst that can happen
  • Referrals work! Think about this from the recruitment industry point of view
  • Ask them
  • We don’t know how o meet people
  • Networking is hard – don’t make it harder by not knowing who you are looking for Make a list of your ideal customers: Who pay you the most Who you’ve enjoyed working with Who you’ve had most success with What about suppliers What about those who will refer you PR opportunities Knowledge gathering… Professional bodies THE RETICULAR ACTIVATOR is a part of the brain the stays on alert. It's job is to make you notice some things and ignore other things (if you noticed everything , you'd be too distracted to function). When you buy a new VW, it seems like the whole world has bought VWs, because you notice them everywhere. That's the reticular activator at work.
  • Anecdote: Hi I really enjoyed today but of you don’t mind me saying you are very fat He then repeated it emphasising the word fat And then he carried on given I was speechless “and because you are so fat you’re putting extra weight on your lower back, well I sell lumber supports”
  • When you walk into a room full of people you immediately think Oh my god everyone knows everyone else – they were just like you two minutes a GO – so who do I talk to
  • When you walk into a room full of people you immediately think Oh my god everyone knows everyone else – they were just like you two minutes a GO – so who do I talk to … the best thing to do is to ask questions – that’s what we are good at!
  • Neighbours House (where have you come from where do you live) Business Card on roof (work, job) Aeroplane (how'd did you travel here) Tennis racquets on wings (hobbies and interests, sport) Pilot reading a newspaper (current affairs, industry topics) Anecdote -tony blair and 30 min compendium of all the soaps each week
  • People love a good story I've learned that people will forget what you said, people will forget what you did, but people will never forget how you made them feel.” ― Maya Angelou
  • Working for others’ success will: separate you from all your competitors / create far greater loyalty than any price cut or special deal ever willcreate more value at no extra charge Understand the universal law of reciprocity. This basically states that what you give out comes back tenfold – if you want referrals – start giving them to others.” I have more fun, and enjoy more financial success, when I stop trying to get what I want and start helping others get what they want.” Spencer Johnson, One Minute Sales Person On the Importance of Scratching Backs In December 1970, psychologists Phillip Kunz and Michael Woolcott conducted perhaps the simplest social psychology experiment ever. Over the course of a couple of weeks, they popped some Christmas cards in the post. However, Kunz and Woolcott did not send the cards to their friends, family or colleagues, but instead randomly selected the recipients’ names and addresses from a local telephone directory. The two intrepid researchers were interested in the psychology of reciprocity, and wondered whether the act of receiving a greetings card from a total stranger would be enough to persuade people to send a card back. The answer was a resounding yes, with Kunz and Woolcott quickly receiving cards from the majority of those on their random list of complete strangers.
  • It shows real interest in them It helps me help them since I can point them in the right direction It can also help extricate you form the conversation
  • Examples Would you say you are in your dream job – we try and make that happen Have you ever found it difficult to find the best staff – I make that happen Were you ever disappointed to lose a key member of staff
  • Accept invites to go to event Continue to build on your list of who you want to meet Have something to say Have a goal every time – makes it much easier Give referrals and you will get referrals So remember one of the key reasons to network is that it is one of your main competitive advantages over the perceived threats out there
  • So to reiterate don’t get me wrong I love technology just looking at an alternative view…
  • not
  •   The importance of newsletters, writing articles, running events The benefit of lunches – partners rarely do not sign off on lunches as always beneficial Important to know who your likely customers are The importance as a skill that marketing is – it takes more than just being a good lawyer 0 you need others to sell you Understand the need / problem of the client and you are half way there – you do this through great questioning Facts tell – stories sell  
  • Write down your actions from the session

Transcript

  • 1. Peter Cosgrove Date: February 23 rd 2012
  • 2. Agenda
    • Selling and Business Development
    • Networking
    • Takeaway Actions
    • Questions
  • 3. What do we think when we hear the word “sales”
    • Apprehensive
    • Uncomfortable
    • Terrified
  • 4. Talking in public?
  • 5. Why do you need to develop business
    • Its how every business survives and thrives
  • 6. Sales is about needs ...
  • 7. Sales is about questioning ... Actively listen to the answers and probe further
  • 8. The indifference of their current supplier. Sales is emotive ... Its 5 times harder to sell to a new client than to an existing one
  • 9. Features vs Benefits
  • 10. Feature Benefit What is in it for the client – they don’t care about you, they care about them
  • 11. Why Network... the old fashioned way.
  • 12. Ultimatum game The ultimatum game highlights people are not rational– that’s why face to face networking and meetings is the only way you will really understand your client
  • 13.  
  • 14. I hate networking!!
    • Our biggest fears
    I hate networking!
  • 15. Have you ever
    • Used a tradesmen based on a referral from a friend.
    • Gone to a restaurant because you know the owner or someone who works there.
  • 16. What is/ is not networking
    • NOT Selling – it’s a PLATFORM for future sales
    • What is it:
        • The ability to create and manage professional relationships
    What is/ is not networking
  • 17. Why network
    • To gather market information and knowledge
    • To create prospects – a growth strategy
    • To Build Visibility
    • To Build Relationships
    • Because the competition is doing it
    Why network
  • 18. Where to Network
    • Accept Invitations
    • Prioritise it – easy client meetings
    • “ Crocodiles at the watering hole”
    • ACTION: Where is appropriate to network in your area?
    Where to network Go where you believe your audience will be
  • 19. Biggest Concerns
      • People do not work the room
      • People are in the wrong room
    • With so many events the key is to:
      • Go to the right events
      • Do the right things at these events
    • Networking is hard – don’t make it harder by not knowing who you are looking for.
    The Biggest problems with networking
  • 20. Starting Point – who would I like to meet?
    • Make a list of your ideal customers:
      • Who pay you the most
      • Who you’ve enjoyed working with
      • Who you’ve had most success with
      • What about suppliers
      • What about those who will refer you
      • PR opportunities
      • Knowledge gathering…
      • Professional bodies
    • … things are much easier when you know who you are looking for.
    Who are you there to meet? Make a list of who you want to meet – the more specific you are the easier it will become
  • 21. If you do not know what you are looking for, do not be surprised if you do not find it .
  • 22. Preparing to network
    • Choose an objective – make it activity based
    • Plan your route (when to arrive, who to sit with etc)
    • Research the group and the dress code
    • Business cards
    • Read newspapers
    First steps
  • 23. What you need to be a good networker
    • You need to have good manners
    • You need to be able to talk
    • … EASY!!
    Tool-kit
  • 24. Never compare your inside to someone else’s outside - because you will always lose .
  • 25. How to start networking
    • Pause and survey the room
    • Targeting groups
    • Eye contact and smile
    • Maintain Distance
    • Ask Permission – Please may I join you?
    • “ Hi I am FIRST NAME – make it easy
    • Use an open question – Where have you come from today
    • Badge – put on right lapel
    Entering the room…
  • 26.
    • Getting into the conversation
    • Talk about them
    • Talk about you
    • Chat
    • Get out of conversation
    • Questions to ask
    • Where have you come from
    • Who do you work for
    • What do you do
    • When did you get into this business
    • Where are you based
    • How long have you been doing it
    • How any staff/ branches have you got
    5 Steps
  • 27. ... so look for open groups. Ref: Andy Bounds – The jelly Effect
  • 28. The Power of Words
  • 29.  
  • 30. Conversing
    • How’s business – Going well, we get lots of referrals
    • Small Talk – Picture the following
    • Talk about them – key question is…
    • Talk about you – Facts tell, Stories sell – mention something you did with a client recently that made a difference
    What’s your elevator speech
  • 31. People watch Xfactor as much for the story behind the singer as they do for the singing
  • 32. Help others ! “ Understand the universal law of reciprocity. This basically states that what you give out comes back tenfold – if you want referrals – start giving them to others .”
  • 33. THE BIG QUESTION What professions are good contacts for you? The Big Question
  • 34. Exercises
    • Examples
    • Traditional “ Afters based ”
    • I am an accountant I help people pay less tax
    • I work in real estate I help people buy the property of their dreams
    • I’m a personal trainer I make my clients more attractive to their ideal partner
    • What can you say as opposed to I’m a lawyer / solicitor
    Your 30 second introduction
  • 35. The Follow up
    • The Business Card: Ask, Look, Comment, Ask Permission to make a contact call. Note time when you are going to call
    • Call when you say you will
    • Sell the meeting is the next stage
    • Now you SELL!!
    Always Do…
  • 36.
    • Be Respectful – Provide an exit
    • Moving on – “I’m going for a coffee – do you want one
    • Parking
    • Never Dump
    Moving on Leaving…
  • 37.
      • Accept invites to events.
      • Build a list of who you want to meet
      • Have an objective every time
      • Know what you are looking for.
      • Have something to say.
      • Help others.
      • ... and you will build your network and knowledge .
      • Now lets revisit our fears….
  • 38. Simple business development ideas
  • 39. Where to start
  • 40. Ways to Develop Business
    • Newsletters
    • Articles
    • Events
    • Lunches
    • These need to be relevant, topical and of value to the end client
  • 41. Moving on Know yourself online… Know your online profile
  • 42.
    • Social media has relevant up to date discussions on everything – use this as a source
    Moving on The advantage of youth… The “older” generation are less comfortable with the use of social media – there is much to distract you but there is good information also
  • 43.
    • Know who you are “selling” to
    • Know what you can sell
    • Know your companies benefits and practice
    • Have a mentor
    • Build a simple actionable sales plan
    • Start networking and practice practice practice
    • Handle objections e.g. “you charge how much an hour!!”
    • Review, ask for help and keep informed
    Moving on Takeaway Actions
  • 44. QUESTIONS? Name Peter Cosgrove Title: Director – Cpl Phone: +353 1614 6160 / +35387 6200836 Email: [email_address] Twitter: @petercosgrove Name Linda Evans Title Careers Register ( A Cpl company) Phone +3531 500 5907 Email [email_address]