I had an epiphany this week Thursday. Well, maybe it wasn’t an epiphany as much as it was an important reminder about the art of the elevator pitch. I was on a conference call with my Executive Leadership Team (ELT) discussing business development and the process of closing the sale. Specifically, the conversation became focused on understanding the needs of the prospect before selling our capabilities. I used the metaphor of a Family Physician, a General Practitioner diagnosing a patient’s malady. The GP begins with questions to understand their patient’s symptoms. In
My epiphany was that building a relationship is confusing to many. They become so focused on presenting their value proposition, they fail to connect with the prospect. Some people I know are honest about their lack of appreciation for networking. As a result, they, avoid it, having a more difficult time generating business. This recognition triggered me to address the issue head-on as it is so fundamental, it cannot be ignored.
“People will forget what you said. People will forget what you did. But people will never forget how you made them feel.” Maya Angelou
Networking for business development, qualifying prospective clients, isn’t much different than making friends or courting a prospective mate. Again, some are better at this than others. People who are good at making friends demonstrate a sincere interest in the other person, the target of their interest. These people ask questions to learn the other’s background and interests to identify common ground. Similarly, my single female friends say that the best prospect is one who shows sincere interest in them. One who asks questions to learn the lady’s background and interests, to identify common ground. Prospecting for business, or networking, works the same way. When your prospect is confident that you understand their needs they will invite you to present your
Making friends takes time and patience. As an Air Force Dependent, I’ve had a lot of experience moving from place to place and making new friends. My best friendships developed over time. I learned that often the wrong people were the first to reach out to me. It wasn’t because I was a magnet for those folks, but I encountered them with every move. They were overly aggressive, inappropriate even, which made me uncomfortable. I learned to be careful with these folks. During my corporate career, I moved around quite a bit as well. I experienced the same issues, although I was much better equipped to deal with them as an adult. I am confident that my experience, making friends is fairly commonplace. I am sympathetic to the trepidation of business leaders on the receiving end of one’s business development efforts. And, they should be wary as the stakes are greater.
The advice to my colleagues is to be respectful, to show interest in the prospect, and build a relationship. When your prospect feels there is mutual interest and respect, they will ask to hear what you have to say. In other words, don’t lead the conversation with your elevator pitch ask questions to get to know your prospect.
Qualifying your prospect is the same process you use to make friends or to find a mate. Make them feel that you understand their pain and will be a good partner. Demonstrate your respect for their situation and a sincere interest in helping them improve their performance. If you are in a more traditional networking situation, spend the bulk of your time listening and asking relevant questions. You will be rewarded with more business.
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Jim Weber, Managing Partner
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Author of: Fighting Alligators, Job Search Strategy For The New Normal