Business development isn’t just about networking events

Many professional services people dislike the thought of being involved in business development. There are several reasons for this. They may feel they ‘aren’t that sort of person’, worry about coming across as salesy or pushy, or feel it isn’t authentic. It also isn’t part of most technical training, so people aren’t used to seeing it as part of their role.

Another common issue is that people either don’t know what business development really means or assume it is all about attending networking events where they don’t know anyone and have to make awkward conversation. In this article, I want to dispel the belief that business development only equals networking events and help you think about other ways you can contribute to effective business development.

Client-facing individuals need to bring work into the firm. If they don’t, who will? If you rely on only a handful of people to do this, have you considered the risks and the opportunities you could be missing?

Setting the scene

What we are discussing here are the activities you can do – and encourage your team to do – that contribute to business development: creating long-term value and growth for a business by identifying, building and strengthening opportunities through relationships that generate repeat and new work.

This is the Prospecting part of my framework. If you haven’t read the updated guide to The 5 Ps of Proactive Business Development^©, you can do so here.

Before deciding which activities make the most sense, you need clarity on your Positioning – the key services you want to proactively develop and the clients you want to deliver them to. Without that, you’re unlikely to choose the right activities. You can read more about this in the guide.

It is also important for individuals to think about their strengths, what they enjoy doing, and who they already know. That will help identify the business development activities that are most likely to suit them.

I remember one workshop where someone told me it took her seven hours to write a LinkedIn article. With support, I’m sure she could reduce that by improving both her writing process and her mindset about the purpose of the article. However, in the meantime, it made far more sense for someone else in her department, who could write one in two hours, to take on that activity. It is good to stretch yourself occasionally, but it also makes sense to play to your strengths.

Once you stop thinking about business development as being solely about networking events, you open the door to involving more people through a wider range of activities.

The value of networking at events

The purpose of this article is to encourage you to think beyond networking events. Whether you have avoided business development because you thought it was all about networking, or you already network regularly, there are many other valuable activities worth considering.

That said, networking can be incredibly valuable.

It is a great way to build your profile, meet a number of people in a relatively short space of time and develop your understanding of the market. It can even be enjoyable when you meet people you connect with, or the event involves something you genuinely like.

Some of my favourite events have included wine tastings, cheese tastings and interesting speakers, as well as experiences I would never otherwise have had, such as a day at the polo or driving high-performance cars at Mercedes-Benz World (slightly scary taking corners at 100mph!). I’ve also had the opportunity to visit places such as the House of Commons, embassies and private members’ clubs.

As your network grows, you often start receiving invitations to these smaller, invitation-only events, which can be especially valuable because attendees already have a degree of trust through the person who invited them.

However, to get the most from networking, you need to:

• go to the right events
• clearly articulate the value you bring
• know how to navigate an event well – joining groups, building rapport, leaving conversations naturally and following up afterwards.

That is the short version! If you don’t feel confident in these areas, or you’ve been networking for years without seeing results, then it’s time to upskill. If you’d like to understand how I can help, get in touch.

Other business development activities

Networking skills training is one of my favourite workshops to deliver because it can be transformational for people who dread networking or simply aren’t getting results. However, there are many other activities to consider. Here are just a few, together with examples of how they’ve worked for me.

Writing articles

Write articles for relevant third parties, such as businesses that work with similar clients or publications your prospective clients read.

Last year, a firm I worked with across several of their departments first came across me through an article I wrote for a PR business specialising in law firms, followed by another article for a legal marketing company. Because I had been featured by two businesses they already knew and trusted, there was implied credibility, which encouraged them to get in touch.

Speaking at events

Many people fear public speaking even more than networking. However, if you’re willing to do it, speaking is an excellent way to build your profile, demonstrate your expertise, and allow people to experience your communication style and personality. If speaking in person feels like too big a step, webinars can be a great alternative. Many of my client relationships started that way.

Hosting an event

If attending networking events isn’t your thing, could you host one instead? Bringing together existing clients or trusted introducers in a small group can be an excellent way to strengthen relationships.

‘Bring a contact’ breakfasts or lunches

This works particularly well if you prefer smaller groups. You and two or three trusted contacts each invite someone the others don’t know. Agree in advance on the type of people who would be valuable introductions for everyone.

It’s a relaxed way to meet new people and, once again, there is an element of implied trust because you’ve all been introduced by someone you already know. Several of my client relationships began this way.

These are just a few ideas to get you thinking about business development beyond the traditional networking event.

Final comments

Remember, it is vital to think about your Positioning and what is relevant for the people you want to build relationships with, whether they are prospective clients, introducers, or existing clients.

Also, remember that business development is a marathon, not a sprint. One client I am currently working with first attended a webinar I ran five years ago and only got in touch last year. Metrics are important too, as they help you understand which activities are gaining traction and which are not, allowing you to refine your approach over time.

If you thought business development was simply about networking, I hope this has encouraged you to broaden your thinking and be more creative.

If you want to think more deeply about the work you want to do, who you want to do it for, how to identify the right clients and introducers, and how to develop the skills to implement these activities consistently, get in touch, and we’ll have a chat.