This week, twenty years ago, I started a BD coaching and training consultancy with one laptop, an office in the spare bedroom, and a handful of willing clients. Twenty years later, I have hundreds of successful coaching alumni.
I’ve consulted through one global financial crisis and one global pandemic. I’ve seen the rest of the world realise that working from home is not an inhibiting factor to doing good work for good people. I’ve seen many competitors come and go and a few stalwarts in allied areas last the distance. All credit goes to those who tried to make a go of it, and it didn’t last. It’s a tough gig. And all power to the few who have survived and prospered.
Thank you to all the clients and fellow travellers that have helped me and taught me things along the way. And a special thank you is due to my wife, Sue McAllister, who has been by my side the entire time providing valuable input and keeping the business side of things ticking over like a Swiss watch.
So what has twenty years of providing BD coaching and training to lawyers, accountants, engineers, and the like, taught me, and that I can pass onto you?
Be clear about the problem you intend to solve. Don’t stray from what you’re REALLY good at. As a professional, you want to be an expert not a resource. If you want to be a resource, look for a good internal job.
Network with purpose – Who has the problem? Can you speak with them? Know who will be a likely buyer for your service and use your existing network to open access to these people. As Seth Godin says in ‘This is Marketing’ you are looking for the smallest viable audience to meet your needs. This is the minimum number of clients you’ve chosen to delight in your market segment. You don’t want to, nor are you capable of, servicing everyone.
Surround yourself with good people before you, and after you, in the purchasing chain, i.e., people who can refer you work and to whom you can refer work. They don’t have to be the same people and should be both internal and external. Just build a cohort that you trust and be open to client problems other than your own that might need solving. It will pay back in warm opportunities – and good friends.
Focus on one-one interactions, not one-many interactions (speeches, articles). Most professionals make their living doing the former.
Make these interactions count. Don’t ‘wing it’. Give the person you are meeting the courtesy of being prepared. And expect the same in return. Don’t just have coffee. Identify a problem you might be the answer to. Or not. But don’t leave the meeting not knowing which it is.
Don’t socialise with people who look like you. You want to be close to willing buyers and active referrers, not direct competitors.
Treat people generously, and with respect. Repeat business will be the outcome.
Published 4 October 2023