Learning Through Business Development

Building relationships and learning about organizations is a large part of any consulting business. 

Spending time getting to know the people, issues, and opportunities within a company is the only way I know to identify real needs and determine if the skills I offer (or represent through partners) can effectively address them.

I might talk with people in organizations several times before a potential engagement is even identified.  

There are also times when I sign confidentiality agreements and perform at least a cursory review of strategy, product, process, or project ideas in order to create a proposal.

I’ve always enjoyed this part of consulting.  

But, it didn’t occur to me until recently just how valuable business development activities are as a learning experience.

By building relationships and listening to leaders describe their companies and their aspirations, I become more knowledgeable and gain a broad and diverse view of my industry. 

An effective balance between business development and service delivery allows me to maintain a healthy business and a fresh perspective.

What more could I ask for!!

Comments

[Pamela]

Building a relationship with our superiors at work usually makes us feel awkward about it. But spending some time with them will boost our career development leading to a better business. This kind of strategy is important to developing businesses today.

[Scott McArthur]

The art (or should that be black art?) of persuasion is as critical as it ever has been. I have been using the work of Robert B. Cialdini to help my clients with this for a number of years.

Cialdini defines six "weapons of influence":

Reciprocation - People tend to return a favor. Thus, the pervasiveness of free samples in marketing. In his conferences and books, he often uses the example of Ethiopia providing thousands of dollars in humanitarian aid to Mexico just after the 1985 earthquake, in return to past gestures (more than 40 years before!) Mexico had with Ethiopia.

Commitment and Consistency - If people agree to make a commitment toward a goal or idea, they are more likely to honor that commitment. However, if the incentive or motivation is removed after they have already agreed, they will continue to honor the agreement. For example, in car sales, suddenly raising the price at the last moment works because the buyer has already decided to buy.

Social Proof - People will do things that they see other people are doing. For example, in one experiment, one or more accomplices would look up at a tower block; the more accomplices the more likely people would look up to see what they were seeing. At one point this experiment aborted, as so many people were looking up, that they stopped traffic.

Authority - People will tend to obey authority figures, even if they are asked to perform objectionable acts. Cialdini cites incidents, such as the Milgram experiments in the early 1960s and the My Lai massacre.

Liking - People are easily persuaded by other people that they like. Cialdini refers to the marketing of Tupperware in what might now be called viral marketing. People were more likely to buy if they liked the person selling it to them.

Scarcity - Perceived scarcity will generate demand. For example, saying offers are available for a "limited time only" encourages sales.

[ann michael]

It's been very interesting for me to read the comments on this post.

My point was that in learning by doing - we're also learning in the business development process.

Whether or not we actually formally work with specific people or companies, the process of building relationships and looking for work also enriches us.

I'm sure I'm quite naive on this subject, but I don't feel as though I'm trying to manipulate the circumstances.

I'm trying to determine if there is a benefit that I can offer someone and, if so, how to communicate that benefit effectively. To determine that, I need to understand them to some degree. To understand them - I need to listen and learn.

[ann michael]

Scott -

I visited your blog and found it very interesting. What a great goal "do the impossible and read all the good books ever written". I'll keep checking in to see how you're doing with that!!

Thanks for coming by!
Ann

[Blaine Collins]

Hi Ann,

Your post inspired me to some additional thoughts on my blog. I guess the trackback is not showing up. Anyway, here is the link, and thanks.

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