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Build Boston 2009 Bd New Econ

Our 2009 Build Boston Presentation on Business Development in the New Economy

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Build Boston 2009 Bd New Econ

  1. 1. 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
  2. 2. 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
  3. 3. It’s all about relationships!
  4. 4. 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!
  5. 5. Business Development?
  6. 6. 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.
  7. 7. 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!!
  8. 8. Fish Finding
  9. 9. 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
  10. 10. Don’t Hate The Player Fish Finding
  11. 11. 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
  12. 12. Fish Finding Don’t Forget to Smile!
  13. 13. Get the Fish In The Boat <ul><li>The Difference Between: </li></ul><ul><ul><li>Business Development </li></ul></ul><ul><ul><li>Marketing </li></ul></ul><ul><ul><li>Public Relations </li></ul></ul><ul><li>Where are you in the cycle? </li></ul><ul><li>It’s all about balance </li></ul>
  14. 14. What’s new in this day and age? Before Before 1. Team 2. Experience 3. Fee 4. Risk What does this mean for your marketing? Now 1. Risk 2. Fee 3. Experience 4. Team
  15. 15. Do I Stay or Do I GO now? <ul><li>Smart Go/No Gos: </li></ul><ul><ul><li>Is this within our business goals? </li></ul></ul><ul><ul><li>Can we make money? </li></ul></ul><ul><ul><li>Does the opportunity have a champion? </li></ul></ul><ul><ul><li>Do we have existing relationships? </li></ul></ul><ul><ul><li>Can we be in the top 5? </li></ul></ul><ul><ul><li>What’s the short and long term impacts? </li></ul></ul>
  16. 16. 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
  17. 17. #1 reason why you win an interview <ul><li>Chemistry </li></ul><ul><li>You can affect chemistry </li></ul><ul><li>Don’t try to cover it all, only the most important points </li></ul><ul><li>Opportunity most often blown here – don’t under estimate the need to TRAIN, PREP and REHEARSE </li></ul>
  18. 18. <ul><li>Getting someone to switch is really difficult. </li></ul><ul><li>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. </li></ul><ul><li>The chances that you can top a trusted provider on the very thing the provider is trusted for are slim. </li></ul><ul><li>Instead, you gain converts by winning at something the existing provider didn't think was so important . </li></ul><ul><li>Seth Godin </li></ul>Can’t touch this
  19. 19. Seek feedback Be gracious Refer others Keep an eye on it! Whether you win or lose…
  20. 20. The Client Service Factor <ul><li>What is the difference between “nice to </li></ul><ul><li>have” and “need to have?” Good and great? </li></ul><ul><li>Having a supporter and having a champion? </li></ul><ul><li>Client Service </li></ul>
  21. 21. The Client Service Factor <ul><li>The 80/20 Rule </li></ul><ul><li>80% of your business is coming from 20% of your clients. </li></ul><ul><li>Use this metric to focus </li></ul><ul><li>Identify your best clients and find the champions </li></ul><ul><li>Don’t take any client for granted—it’s much harder to win new business, and there is always someone in the wings </li></ul>
  22. 22. The Client Service Factor <ul><li>Make client service part of your standard business practice </li></ul><ul><li>Schedule action </li></ul><ul><li>Principal to project staff </li></ul><ul><li>Build real friendships </li></ul><ul><li>A good relationship </li></ul><ul><li>doesn’t have to be exclusive </li></ul>
  23. 23. The Client Service Factor <ul><li>Client Service and Business Development for all project staff </li></ul><ul><li>How good relationships = growth </li></ul><ul><li>Listen </li></ul><ul><li>Be proactive </li></ul><ul><li>Make your client a hero </li></ul><ul><li>Free stuff? </li></ul><ul><li>Stand in their shoes </li></ul>
  24. 24. The Client Service Factor <ul><li>Customer Satisfaction – No Surprises </li></ul><ul><li>Feedback </li></ul><ul><li>Principal involvement </li></ul><ul><li>from beginning to end </li></ul><ul><li>Open communication </li></ul>
  25. 25. The Client Service Factor <ul><li>Wash, Rinse, Repeat…. </li></ul><ul><li>Repeat and repeat and repeat…. </li></ul>
  26. 26. <ul><li>Do what you are comfortable doing. Have fun. </li></ul><ul><li>Generosity begets generosity but be patient for payback. </li></ul><ul><li>Know where your clients go and be there too. Out of sight is out of mind. </li></ul><ul><li>Do something extra every day – make the extra call or send the extra email, post an update on linked in or send a tweet.  </li></ul><ul><li>Plan, plan, plan – block out time on your calendar where you make calls and have a list of calls to make. </li></ul><ul><li>Know the difference between BD, marketing, and PR and have a balanced approach. </li></ul><ul><li>Make smart go/nos – don’t waste time or money. </li></ul><ul><li>Identify hot buttons and specifically address throughout all steps in the process. </li></ul><ul><li>Encourage client service activity/awareness by staff at all levels – Principal to Receptionist. </li></ul><ul><li>Schedule client service actions. Find ways to add value for your client and to the relationship before, during and after the engagement. </li></ul><ul><li>Build Boston workshop 2009 (Kathy McMahon, James Koloski, Gary Pease, Katy Emmott) </li></ul>Top 10 BD Tips for the New Economy