SmallBiz Technology
Whether or not your job title suggests you are in a business development role, you probably are! That’s the reality of our business world today. Our success and growth depends on relationships. This could be with a key client or supervisor, or a mentor. We can know that this is important, and even think that we are nurturing these important bonds, but most of us are not intentional enough.
Today I want to share a quick exercise that can be part of your business development plan and help you be more intentional about building and managing relationships. Working as a sports agent, I quickly realized the edge gained by taking raw connections and nurturing them into meaningful, sustaining relationships.
Here are three strategies that you can assess and intentionally transform your business relationships. It’s a simple exercise that I use often because time and time again, it’s worked. Even if you feel confident about this part of your business development plan, test your assumptions with these quick steps.
Strategy 1: What’s in Your Favor Column?
Brainstorm 10 ways that you can help your most important business contacts—those you already have and those you want to gain. Some examples of favors include:
- Introducing them to a person in your circle who can help them in some way.
- Forwarding industry-specific news or leads that is valuable; look for sources that your contact is not tapping.
- Pointing them to books and articles that could advance their goals.
- Providing knowledge, access or assistance that they cannot easily secure otherwise.
The more you think in terms of sharing assets and building a Favor Column, the more your empathy will guide your thoughts and actions , and that will project positivity to your key person. Remember that this is not about your gain, but theirs.
Strategy 2: What Are Your Stories?
Identify 10 stories from your experience that showed how you made an important difference to your company’s or client’s goals.
Think of moments when you shone, when your unique abilities and attributes made your team greater than the sum of its parts. You may have solved a difficult problem, found a new way to collaborate, or managed to deliver on a tight deadline.
Be as specific and detailed as possible with these anecdotes. “I made my sales quota,” is bland; “I increased my client’s portfolio by 40 percent, and in target markets that increase was 60 percent,” is way better.
These stories are your means and your message. You’re not selling anyone anything; you’re merely telling them facts of your past experience that can help them get where they want to go.
Strategy 3: Who Will You Pursue?
List five relationships you want to improve. These names will go in one column. In the second column, note whether you have provided so much value to this person that they “owe” you. If the answer is yes, put a plus sign (+) in this column. If the answer is no, put a minus sign (-).
For every relationship that is followed by a (-), write down:
- One specific way you can add value to this person.
- One story you could share authentically that would resonate with this person’s goals, desire and mission.
For every relationship that is followed by a (+), write down:
- Is there an introduction that this person can make for you? To whom?
- How and when will you make the ask?
The takeaway
Be intentional about how you incorporate relationship-building skills into your business development plan. These partnerships don’t just happen.
Take stock of what you specifically can offer a key client or prospect, and map out the best way to leverage your unique assets. Use these strategies and don’t be surprised if you become an indispensable ally to those who can help you the most.
Molly Fletcher helps men and women in business build better relationships . Her book, “A Winner’s Guide to Negotiating: How Conversation Gets Deals Done” (McGraw-Hill), will be in stores September 19 and draws on her decades as a sports agent and negotiator on behalf of pro athletes, coaches and broadcasters. Follow Molly on Twitter @MollyFletcher.
