It’s that time of year where we all have maintenance and reliability on our minds. We usually hear those two words and think only from a plant perspective. Successful business development managers keep maintenance and reliability on their daily radar from another point of view.
Business development is a confusing term to many. If you ask a dozen people to define it, you will likely receive a dozen different answers. I personally like the way Scott Pollack defined it in his “Forbes” article on March 21, 2012 when he said, “Business development is the creation of long-term value for an organization from customers, markets and relationships.”
Business development professionals who create long-term value for a company are equally committed to diligent maintenance and reliability, rather than the more narrow vision of simply building a client list.
Be present
Relationships grow stronger through consistent contact. Business development professionals generally are consistent in following up on leads. Equally important is ensuring we are following up consistently with existing clients, vendors and employees. I was visiting with a colleague recently who mentioned he had learned through experience that not maintaining contact with existing clients was far more important than he previously thought. When his account manager moved on to another opportunity, he felt he was starting over with his relationships. There is no rule of thumb on the ratio of new contacts versus maintenance of relationships, but it is important to figure out what works best for your business and then be diligent in scheduling your time accordingly.
Be a good listener
We should always be listening more than we talk with the intention of learning all we can to help us build our relationships. Stephen R. Covey explained this so well when he said, “Most people do not listen with the intent to understand; they listen with the intent to reply.”
Sometimes the simplest things mean so much to people. I was visiting with an acquaintance and he asked how my son was doing and we talked for a few moments about his military adventure. About a week later I received a handful of coupons from him for my son’s frequent haircuts. He asked me to pass them on to my son and thank him for his service. While this had nothing at all to do with work, I can assure you I will not forget it. It meant so much to me that he heard what I said and took the time to send me those coupons. He is very successful and always surrounded by great people and I sincerely believe that is in part due to his ability to develop and nurture relationships.
Be swift with corrective action
If we are consistently visiting with clients, vendors and employees and are genuinely listening, we will learn about areas where we can improve and we will likely be the first point of contact when there is a problem. When we make mistakes it is imperative we be honest in recognizing the mistake, sincere in our apology, quick to resolve the issue, and then follow up in order to build trust and respect in our relationships. We all make mistakes. How we handle the mistake is remembered more often than the mistake is. Warren Buffett stated this brilliantly when he said, “It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently.”
Be a giver
Make it a point to contact people when you do not need something. Take a couple of moments to learn more about them and their business. In doing so, we most often learn of ways to be helpful.
I also believe it is important to give back to our industry. We are so blessed to be working in an incredible industry and we receive tenfold the blessings when we are giving back. I have many great friends as a result of volunteering my time and participating in events and associations.
It requires constant effort to maintain mutually beneficial relationships. The most successful business development professionals are focused not only on initiating relationships but have a persistent dedication of maintaining long-term and reliable partnerships.
For more information, contact Sandra Baucom at sbaucom@kapproservices.com or call (281) 842-8333.
