3 steps to business development success

In an ideal world potential clients would identify themselves with a big sticker, and offer you cash up front on first meeting. In the real world you’re told that the answer is “networking” – a seemingly interminable process of casual meetings where we hope that something might happen. Sometimes it does, normally it doesn’t, so it’s easy to lose heart. So how can we know if it’s working? Try a simple 3-stage process.

• Step 1. Decide who you want to meet. Key people are rarely at networking events. To use a fishing analogy, you need to be more like a trout fisherman, going after specific fish, than a trawler-man.
• Step 2. Plan to meet them. If you want to meet a specific construction director (Bill) at Wimpey Homes Ltd, find out who in the firm knows people he knows, which of your contacts could make an introduction (try asking them – it’s easier than guessing) or which events/gatherings you are likely to find him at. Pick a few key people you’d like to meet, and make plans.
• Step 3. Take action. Measure how successful you are. Give yourself ½ point for every intermediary you meet face-to-face, and 1 point for every potential client you meet face-to-face, and set a monthly points target. Start at 2 points, and work your way up until you reach a stretching but achievable ceiling

The outlined plan may not be 3 steps to heaven, but they are 3 practical steps to increasing partner revenue.