Top 5 Business Development Strategies for Young Professionals (Part 5)

Top 5 Business Development Strategies for Young Professionals (Part 5)

5.     Develop Unique Business Relationships with Referral Sources

Unique business relationships (UBRs) are those relationships that are difficult, if not impossible, to replace. Young professionals must make it a habit of focusing on forming UBRs with potential clients and referral sources. UBRs are formed through creatively thinking about how best to form a unique bond with another person. A young professional should assess all those ways that he or she can establish such a bond with others. Interesting hobbies, activities, and events are gateways to UBRs. Further, identifying a potential client’s or referral source’s prized interests provides a viable means of tailoring one’s business development efforts to more efficiently yield the strong emotional bond behind UBRs. Once that unique emotional bond is built, it is difficult, if not impossible, for either person to replace such a relationship with any other person. Such a phenomenon leads to people who want to do business with each other.

If implementation of the strategies in this series improved a young professional’s business development success by just 10%, such a result would be a solid platform upon which to build for many years. Dust off your plan for developing business today with an eye toward incorporating these strategies as guideposts for improved success.

J.B.

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Top 5 Business Development Strategies for Young Professionals (Part 4)

4.     Help Referral Sources Grow Their Business Keeping the attention of great referral sources is a difficult task. The only way to remain top of mind with one’s referral sources is consistent communication with them and, more importantly, helping those individuals grow their business. Nothing speaks louder than facilitating a new client for a referral source or making a valuable introduction that otherwise can yield business to a referral source. Introducing a referral source to one’s existing clients is low-hanging fruit, especially in the midst of an immediate client need. Introductions to others within one’s network of contacts who can also become great referral sources is the next best way of helping a person grow his or her book of business. It is time well spent actively looking for ways to help one’s referral sources succeed. Nothing beats having a trusted strategic partner who is looking to return a favor. In the next post, we will discuss another top business development strategy, namely, Develop Unique Business Relationships with Referral Sources. J.B.

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Top 5 Business Development Strategies for Young Professionals (Part 3)

3.     Join Organizations to Rapidly Build a Powerful Network of Referral Sources

Ensuring a steady flow of warm introductions to potential clients from trusted strategic partners in the marketplace is essential to a successful long-term business development plan. There is no better way of securing a productive audience with a potential client than a timely referral. A sure-fire way to rapidly build a powerful network of referral sources is to join and participate in organizations. Participate in the form of a board position or as a committee member, as other ambitious professionals are typically also involved at such levels. Identify and participate in an industry organization, a charitable organization, and an organization that involves a personal interest or hobby. Such well-rounded involvement in organizations will materially increase the number of one’s referral sources.

In the next post, we will discuss another top business development strategy, namely, Help Referral Sources Grow Their Business.

J.B.

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Top 5 Business Development Strategies for Young Professionals (Part 2)

2.     Find a Mentor

A mentor is a coach. Just as great athletes have coaches to help refine their natural talent, take their careers to the next level, and inspire them to impressive professional heights, so too must ambitious young professionals have a coach to more rapidly achieve business development success. Not only can they help identify inefficient activities, they provide a wealth of instant knowledge gained over many years of originating business. Successful mentors have not only succeeded, they have failed, and failure is a remarkable teacher. They can share their wisdom with young professionals and provide much-needed encouragement as one attempts to build a solid book of business. Mentors are typically within one’s firm. Young professionals need to seek out and align themselves with a mentor as early as possible.

In the next post, we will discuss another top business development strategy, namely, Join Organizations to Rapidly Build a Powerful Network of Referral Sources.

J.B.

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Top 5 Business Development Strategies for Young Professionals (Part 1)

Ambitious young professionals who desire massive improvement in their business development success must implement an efficient and effective plan. A solid plan includes practical strategies for generating new business.  The following strategies in this series are designed to access innovative ideas that young professionals can harness to exponentially increase their book of business.

1.     Stop Inefficient Activities

A successful business development strategy is an efficient one. Accepting every networking event invitation, spending too much time and money on referral sources who fail to reciprocate, and pursuing a potential client without the assistance of a more senior member of one’s firm are examples of inefficient activities. In a young professional’s career success in originating business oftentimes comes from excising activities and strategies that simply do not work. Thus, before any other business development strategy can be effectively implemented, one must be willing to make an honest assessment of those strategies to date that have not yielded marked results, and then stop them immediately.

In the next post, we will discuss another top business development strategy, namely, Find a Mentor.

J.B.

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Release of New Happiness Book!

I am excited to announce the release of my new happiness book, titled, Happy is Cool: How to Ignite the True Happiness in You.

My work on the book started out simply as a labor of love for my kids–I was trying to put down on paper some of the things I could think of that might help my kids increase the likelihood of living happy and fulfilling lives.  After I let some friends read what I had prepared , they encouraged me to keep writing, and develop the content, and provide examples, anecdotes, and other stories to flesh out the ideas.  I then structured the book similar to a coaching session, where an idea is considered, questions are asked, there is reflection and visualization about the idea, and goals are set.  The original coaching-session like approach to the topic of happiness in Happy Is Cool is something I hope readers will find practical and effective in increasing their personal levels of happiness for the long term.

I would be honored if you would read the book!  Click on the book cover below to purchase Happy Is Cool on Amazon.com:

PP Native Cover.4476571_front cover

Thanks!

And remember:  Be Happy!  Be Cool!

J.B.

 

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The Happiness Sales Edge: Implementation

The last several posts have identified something that can unleash a massive surge in our potential to develop business:

Our personal level of happiness!

The extensive academic research on happiness and neuroscience and the wisdom of major thought leaders in the field of Positive Psychology provide a workable framework within which to use our personal happiness to boost sales success.  With a firm understanding of the academic definitions of happiness and the benefits of positive emotion, we can utilize practical interventions that can increase our happiness level.  And we can further maximize our happiness by considering the various coaching keys to happiness we have discussed.  With a higher level of authentic happiness, we can enjoy the numerous benefits happiness brings that relate to and can increase our sales potential.

As I’ve stated before, happiness is no longer merely a utopian notion with uncertain practical utility.  It can unleash a massive surge in the potential of sales professionals—providing a powerful edge to propel any organization to new heights.

Although Crux Rainmaking–as a business development approach–provides the tools and ideas to propel our sales efforts generally, tapping into the benefits of positive emotion allows us to employ the approach more effectively.  Thus, implement The Happiness Sales Edge now!  Harness your happiness and exponentially increase your sales potential!

J.B.

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