Watching a Business Develop Around You Is a Gift

Are you wasting time getting your business off the ground? The time we spending on building a business is never wasted. Entrepreneurs are consistent in their business efforts. So why does it take some of us longer to see the results? Is there something we’ve missed? No, it is not a race, you will see others there before you and that’s okay. Be happy for them, ask them how they did it. They are happy to share and you maybe surprised at what they tell you.

Everyone can start with the same opportunity, the way you approach it is different. Some of us have a wider learn curve then others. Training is your part of the equation. You have to take what you have learned and act on it. Learning is not a waste of time unless, you think it is. If you feel that it is,your letting your emotions over ride your thinking process. You have to stop giving your emotions power over your decisions. If you are having a negative emotional reaction, it is because your not getting what you want without doing the work that it takes to get there. If you are busy worrying about someone else you will never see what you have in front of you.

People that feel like they are wasting their time are busy complaining. They are not doing what they need to do to get the results they want. They are still hoping that someone will come in and do it for them. Building a business is work. When you feel discouraged, you are not feeling the rewards for your efforts. What are you thinking, you can’t complain and have a positive out look at the same time. Whining is a negative act fuel by emotions. If your personal business development is lacking momentum you are the only one who can change it.

Adding a new training task to your list that will benefit you and make it easier. You can start building up your tool box with positive acts. Volunteer or go out and do an act of random kindness if you want to feel good about something. Only you can move forward, I can’t push you or hold your hand to success. You are the secret to the success of your business or your career. Fitting in to the role as a success person developes as you act on the training and the informed decisions you make. Exercising positive thinking because if you are only putting your toe in to test the water, you may never get in. What I learn today I can use to help someone do what I do. It is part of my business model.

Be too busy to dwell on negativity. Everyone is different so their challenges are different, Waiting for your light bulb moment will keep you in limbo. Everyone that sticks to the training long enough is going to see results. When your moment happens you will be ready because you invested on it. People, you have to carry out the training or it will not work. Entrepreneurs do not get paid for time. They get paid for results. Entrepreneurs really are too busy to worry about your negativity, they focus on whats important.

Watching a business develop around you is a gift. You will see it if you stay positive through the experience, you are the secret to your success so don’t give up. When my business changed, it was when I realised that I am the business. I have to take this to the next level and treat this like a business not a hobby. I am responsible for the decision I made. Most entrepreneurs can tell you when things stared turning around for them. Now when an opportunity comes they are ready. The reason they can do this is because they are positive thinkers that are successful because the took advantage of the opportunity in front of them. They look at it with an open mind and then zoom in on the facts taking emotion out of the decision-making.

Training your mind to take action is the way an entrepreneur’s mind works. You can teach your mind to leave emotion out of your decision-making. You start by training it to take action on facts, so it doesn’t react to emotion. You want it, doesn’t mean you need it. Take some time, up to a day if you need it to make decisions. Give your brain time to wrap around it. Listen to your gut as the facts unfold and you will make the right decision. A business mind will zoom in and out putting their focus on what is the best decision for the business and the people the business supports. Leave the emotions at the door and look at all the ways you can make a positive impact versus a negative one. Celebrate small milestones as much as the big ones, because they keep your momentum growing. Be positive take one day at a time and keep the future where you can see it.

Business Development Advice from the Chair of the ABA Commission on Women

Pamela Roberts, Esq., a partner at Nelson Mullins Riley & Scarborough, has cracked the code to becoming a rainmaker: get active in a big national organization, focus on public service and let the referrals come in. Her story illustrates how any lawyer can do the same; and her questions at the end of the article can stimulate your own success story.

She is no ordinary lawyer. Roberts is the Chair of the ABA Commission on Women in the Profession, a prominent national position that gives her frequent exposure on the wide range of issues facing women lawyers. And she does it while being a mother of four, wife of another partner in her firm and full-time business litigator at a 400-lawyer firm.

Only 17% of women lawyers are equity partners, and most firms have just a lone woman rainmaker – statistics that Roberts finds distressing. “Becoming a rainmaker always been somewhat challenging. It’s so much more challenging for a woman,” she said.

But she herself is active in four local charities, which brought her referrals. She is a regular public speaker before audiences of clients, and she attends trade association meetings in the industries of her clients.

How does she do it all? “I gave up on sleep,” she joked. “Seriously, my husband and I made the decision that by having two people working full time, we have to pay for nannies and support help.” Help is essential, especially when one of your kids is on two traveling soccer teams.

Getting Business from the Bar (or other Organizations)

And so is focus. Roberts pursues activities and passions where she can build relationships. For her it’s been the American Bar Association, where she began more than a decade ago by working her way up the Litigation Section. Her husband gave her an early demonstration of networking.

“I was attending an ABA Litigation section meeting. My husband, who is also a lawyer and avid golfer, was with me and he went out for a round of golf. He came back to lunch with another couple: one, a potential client whom he had been golfing with, and his spouse, who was a litigator attending the ABA meeting. She and I had never spoken though it’s only a group of 200 people! Meanwhile, these two guys played one round of golf and had already exchanged business cards and followed up with notes to each other,” she said.

Roberts devoted herself to the ABA and today is a member of the ABA House of Delegates, the ruling legislative body. She served on the Board of Governors – the ABA’s board of directors – from 2002-2005, and is a former member of the commission on what is today named the Commission on Racial and Ethnic Diversity in the Profession. She was Chair of the Young Lawyers Division and served on the ABA’s Nominating Committee and Special Committee on Governance.

She was following a key rule of business development: to join an organization and become visible in it. “My continuing motive always has been the underlying work,” she said. “I’ve always been a believer in the public service aspect of the ABA.” At the same time she started seeing immediate business benefits, because South Carolina is a small state and lawyers around the country would refer local legal matters to her. “I’m not aggressive about business development in the ABA,” she said. “But certainly, yes, the ABA is a good arena to get referrals. Just like golf or trade association activity, once you’ve worked together with other lawyers you can build relationships.”

To achieve her success, she advises other lawyers: “You must treat bar association membership as you would treat a client: honor deadlines and respect other people’s time and input. It is not only rewarding, but you’ll succeed and will be around a long time and get the opportunities.”

Roberts uses several specific techniques to generate new business:

  • Speaking engagements. “A speech is absolutely a business development opportunity,” she said. “Sometimes it doesn’t even matter what you’re speaking on.” She said it impresses clients if they merely see their lawyer on a panel discussion at an industry event. “The ideal setting is when a client is in the audience and you’re speaking on something important that directly affects the client.”
  • Niche building. The bane of litigators is one-time engagements. Lawyers typically will work with a client on litigation for years, but when the case concludes, so does the relationship. To overcome this problem, Roberts built a niche practice to offer the same service to multiple clients. “I did a lot of securities fraud class action defense work. A lot of them were one-time cases. What I did was parlay my expertise so it worked for other clients. I can say to one client that I did this particular work for two others. That’s how you build a type of expertise into a niche practice,” she said.
  • Referrals from civic boards of directors. Roberts is on the board of the Trinity Housing Corporation, Claflin College, the local YMCA and the local children’s museum. “All four of them are outside the legal profession. They clearly introduced me to civic leaders and opportunities to talk about what our firm did. Those opportunities also led me to meet decision-makers of current clients. Board membership is a great way to solidify both the firm’s relationship and build my own expertise,” she said.

Rainmaking is the key to breaking the glass ceiling that stops women from moving up in law firms. See the other feature articles this month on the same theme. Lawyers who want to smash through the barrier should emulate Roberts’ example, starting with her

How Is FedBizOpps Useful in Business Development?

Anyone in the know in business development doesn’t get too excited if they happen to see something that looks exactly like what they are trying to bid on when searching FedBizOpps.gov (FBO). The Federal Government is supposed to post all unclassified opportunities over $25,000 on FBO. It is safe to say, however, that FBO is pretty much useless to you for bidding purposes because most of the opportunities that appear there have been discovered already by your competitors.

Your competitors may have been planning for these opportunities for a while, throughout the entire acquisition process from when the opportunity was created to the point of its culmination in a Request for Proposal (RFP) or Quote (RFQ). Rarely do you stand a chance of winning if you pick an opportunity off a website as public and popular as FBO late in the game, once a draft RFP, and especially the final RFP, has been issued. It has probably been “spoken for” or “wired” by some company that has taken its time to prepare.

Why would FBO be useful in business development, then?

It is actually useful for many purposes. Let’s take market research, for example, that every business developer should do periodically to figure out how the market is behaving, and if the company needs to adjust its course. You could use FBO to figure out which agencies buy what you sell. For example, you could search for “marketing communications.” Remember to use quotation marks if you use multiple keywords. See what contracts show up in the results. Make note of the contract titles and numbers that look especially interesting.

You will also see what companies are winning these contracts, and what companies may be issued sole source awards. Make a note of them, because these are your potential competitors or teammates. Look at the details about the contracts’ scope to zoom into the kinds of work you might be interested in bidding on.

FBO is a perfect place to learn about upcoming opportunities for educational and planning purposes and figure out what types of opportunities exist for a company like yours, and what are their key characteristics. You may not be using FBO for something to bid on, but the information on the solicitations is representative of the patterns of your potential customer agencies. You can see who buys what, how they do it, and how much and how frequently they buy.

Of course, you may indeed find some good opportunities in the early stages of procurement that don’t yet require proposals. All is not lost when the government issues a Request for Information, announces “Sources Sought,” or notifies of a “Presolicitation.” You may still have a fair shot at the opportunity if you start preparing right away.

On FBO, you can see what companies are registered to receive notifications about the RFPs and amendments. This will help you with your competitive analysis and teaming strategies. Some contracting officers may even require that your company register on FBO.

You may also use FBO for marketing yourself as an interested vendor to the government and partners.

Another great use of FBO is to find information about vendor outreach events, with its “Search Small Business Events” and “Vendor Collaboration” buttons.

As you can see, FBO has many uses – but all of them should be appropriate to your goals.

Business Development Consultants Share Experience, Know-How

Most business people can say that they have been involved in a situation where they later determined that they hadn’t seen the whole picture, and as a result they didn’t solve a problem or take advantage of an opportunity like they maybe should have. In other words, they didn’t see for forest for the trees. This type of situation is the primary reason why business development consulting is important.

Regardless of the situation, business development consulting can be an important step in the life of any business. With an experienced consultant, owners and managers of a company can learn new ways of doing things, or just bounce ideas off of a well-versed coach. This is someone who may have been in a very similar situation, and can teach others how to deal with such a situation effectively, efficiently, and most importantly, profitably.

Business development consulting gives company owners and managers first-hand experience in dealing with situations, whether problems or opportunities. Unlike books or many workshops, the owners have the benefit of a consultant’s full attention, as well as the opportunity to get answers to direct, real-world problems. Advice is not based on a lot of theory. It is real-world guidance to deal with concrete problems.

In recent years, these types of professionals have enjoyed exponential growth, due mainly to the success stories that have been told by their former clients.

Whether the situation has to do with financing, accounting, marketing, sales, administration or other areas of a company, there is probably a consultant that is available for the task, one who will give owners and managers the benefit of their knowledge, the good as well as the bad.

It is also important to note that just as is the case with any financial expense, since development consultants are not employees, their cost is a tax-deductible expense. They can be used when a company is considering expansion into foreign or domestic markets, or when an underdeveloped market in a foreign country is suspected.

Most importantly, these consulting professionals can offer experience and solutions from as wide or as narrow a scope as an owner or manager desires. Whether it’s an issue of making a company grow in general, or to focus on a particular aspect of marketing, sales and accounting, designing, development or a new product, service or project, a business development consultant can make the difference between success and failure.