Do Your Homework – A Business Development Essential

When my son was in school, I believed that the homework assigned to him was important to help him retain knowledge of the principles he was learning.  I believe the same thing about doing business development – you must do your homework.

What I have found from my coaching is that most consultants work with a particular client, yet they don’t do any background research on the individual, or the firm/company. They don’t know anything about their client!  They miss essential information that might improve their relationship.  So here are a few tips of things you need to look for that will help you understand your client better and find additional “common ground” to provide discussion.

• Check your own company information to see if they have worked with you in the past. This is fundamental but often overlooked.
• Review their website.Understand what they do for business – review services or products developed.

Read their news – what is going on at their business at the current time.

Review individual biographies – what do people say about themselves?

What do their financials tell you about the health of their organization?

Sign up to receive information – stay ahead of what they are talking about.

• Check Linked-in

Review individual profiles and their posts.

Check their educational and work history and find common ground

Look for mutual connections.

• Mine the internet

Google alerts can be your friend – it helps you keep on top of timely news.

As they say, “knowledge is power”.  The more intel you have, the more you can have broader discussions with clients about their business and their products and how you can provide value.

About Meyer Vorst Consultants

We provide strategic marketing and business development support for consultants and professional services firms.  Can we help you?  For more information, check out our website at www.meyervorst.com