Recap: Business Development Strategies - The Path To The Cash!

The topic of the March 22, 2019 MCCC Business EXCELerator was "Business Development Strategies: The Path to The Cash." The meeting was moderated by Erin Allen, President, CONTEMPORARIES, Inc., who is the Vice-Chair of the MCCC Small Business Committee. The presentation was made by Caryn Kopp, Chief Door Opener, Kopp Consulting.

​Ms. Kopp distinguished that the purpose of marketing is to achieve awareness; the purpose of business development is to achieve sales.  To achieve sales, it is recommended to follow this chronology:

1. Identify the right targets. Narrow your search to those for whom you will be an obvious solution, who will also willingly pay and feel urgency around having a meeting and moving forward with next steps.
2. Devise the right sales message. Be specific Try this: Anyone one can___________; But not everyone can __________; For example ___________.
3. Craft the right sales approach. Use the appropriate language and delivery methods to achieve positive outcomes. Avoid long email messages and run-on voice messages.
4. Plan the right answers to prospect objections. Prepare for the "no, thank you" reaction. Be able to pivot using better responses.
5. Select the right colleague(s) to "open the door" and "close the deal." Consider the DNA needed for each of these important roles.
6. Develop the right execution strategy. Appreciate that time is needed for successful business development. There is both non-revenue and revenue generating work in organizations. If you want more revenue, more time needs to be spend on revenue generating activities.
7. Develop the right messages. Think about questions that lead to YES. Avoid questions like, "What keeps you up at night?"  
8. Follow-up. "Nurture-Request-Nurture, repeat" to remain relevant to your prospects and clients. Be respectful of their time. Be persistent with patience without being a pest.

​This step-by-step strategy is proven to create Caryn Kopp’s The Path To The Cash®!