Biz Dev Essentials
- 1. Biz Dev Essentials From Kohn Communications
- 2. About Larry Kohn • Coaching lawyers for over 30 years • Conducted over 31,000 coaching sessions with lawyers • Co-Author, ABA best-selling book Selling in Your Comfort Zone • For free tools, publications and seminars visit www.kohncommunications.com
- 3. Assess your interest in improving • When we are not interested in improving… – Change may feel like a burden – We don’t invest time, so we don’t get new ideas – Failure alienates – We defend avoidance – Old habits are not challenged • We repeat less effective activities • We blame others • When we are interested in improving… – We invest time and we get new ideas – Failure motivates – We fight for improvement
- 4. Elevate your interest • Interest is sparked by – Worthwhile benefits • Financial security, Power, Community – Accessibility • Safety, Skills, Resources – Immediate gratification • Fun, Intellectual rewards, Income
- 5. Identify your obstacles • “Lack of time” is usually a smokescreen – You make time for the things you want to do – The most important technique takes an instant • Post-It note - “Biz Dev Ops?” • Use the Capture Your Observations form – You will learn to slowly weave biz dev into your day • There are 2 primary obstacles – Fear of futility - a waste of time and money – Fear of humiliation - needy, greedy, seedy
- 6. My goal is to introduce a process that works that you will be proud to implement • Good news: You already have the personality and the resources you need for meaningful improvement • There are two fundamental components: Research • Identifying the people you want as clients • Identifying better ways to serve them Reliability • Demonstrating that you live up to your commitments
- 7. Get organized • Create a folder - Keep it in plain view • Update your contact data base – All your contacts - current, past – Your wish list of strangers - future • Identify your “Top ten” target list – End users (current, potential) – Referral sources (internal and external) – Use the Relationship Development Worksheets
- 8. Understand the value you offer • Value is a benefit/cost ratio “The most for the money” • When you list your benefits… – You will have a larger inventory – You will be more confident – You will be more inclined to reach out – You will be more skilled at revealing benefits – You will continue to innovate
- 9. Create your inventory of “Offers” • There are 5 categories of offers – Service – Lead-generation – Introductory - From you and from your colleagues – Low-barrier closing – Relationship-maintenance • Keep innovating – Post-It note – “Is there a better way?”
- 10. Build a larger, well-targeted community of allies • Follow the Biz Dev Process: – Meet - Introductions, Organizations, Invitations – Build Trust - Capable and Compatible – Clarify needs - Known and Unknown – Get approved - What is the procedure? – Close - Low-Barrier offers Success is not built on superficial conversations, false friendships and manipulation. Rather… Success comes from Communicating value to the right people
- 11. Best practices • Increase incubation • Keep aiming higher – Better organizations – More profitable, delegable targets • Negotiate the follow-up before you exit – If you don’t… there are 3 reason to connect: • Social • Research • Value – Call first, then e-mail
- 12. Start right now • You don’t need to change your personality • The benefits are worthwhile • The risks of avoidance are significant – Dilution is real – It takes time to find your formula – The sales cycle is long – Deferring gets easier
- 13. Please accept our offers: 1. Let us help you with some free guidance – We’ll provide a free consultation via telephone – We’ll customize what you just learned – We’ll help you accelerate the process – The only way to judge coaching is to try it – What is your alternative catalyst? 2. Let us send you the Biz Dev Toolkit – These tools are only available by request
- 14. Thanks. Best of luck! Call or e-mail for your free coaching session and the Biz Dev Toolkit 310 717 0998 larry@kohncommunications.com