Business Development For Startups -Part 3- Networking for business success mass challenge -...

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Part 3 of Business Development For Startups. This was run at the MassChallenge Accelerator in Boston.

Transcript of Business Development For Startups -Part 3- Networking for business success mass challenge -...

Stephen N. Davis

“Partnering With Clients to Drive

Sustainable Profitable Growth”

Networking for Business SUCCESS

2000 - 2012 © CXO Advisory Group

Business Development Workshops

Choosing the Right Sales Channel for Your Startup

Secrets to Maximizing Your Marketing ROI:

Aligning Sales & Marketing

Networking Your Way to Business Success

Maximizing LinkedIn for Business Development

2000 - 2012 © CXO Advisory Group

Getting the First

Meeting

Meeting with the

RIGHT Person

Your Biggest Sales Challenge

2000 - 2012 © CXO Advisory Group

2000 - 2012 © CXO Advisory Group

Trust Drives Transactions

66%

Of the Economy is Influenced by Personal Recommendations

SOURCE: McKinsey & Co.

2000 - 2012 © CXO Advisory Group

Referrals are WARM/HOT Calls

2000 - 2012 © CXO Advisory Group

Why Referrals Work

Leg up on the Competition

You’re Pre-Sold

Instant Credibility

You GET the Meeting

Shortens Sales Cycle

2000 - 2012 © CXO Advisory Group

It’s How People Meet, Engage,

Participate and Share ….

Networking

2000 - 2012 © CXO Advisory Group

It’s Not About Collecting Business Cards

2000 - 2012 © CXO Advisory Group

Your Ultimate Goal

Convert Your Contacts

Into a Word-of-Mouth Referral Network

2000 - 2012 © CXO Advisory Group

Your Network = Your Net Worth

$948

The Value of a Contact in YOUR Network

SOURCE: IBM

2000 - 2012 © CXO Advisory Group

Great Sales People are ALWAYS Networking

2000 - 2012 © CXO Advisory Group

They Invest The Time to Network

2000 - 2012 © CXO Advisory Group

They LISTEN More Than they Talk

2000 - 2012 © CXO Advisory Group

They Give More Than They Receive

2000 - 2012 © CXO Advisory Group

AND They Seldom Forget to Follow-up or Follow-through

2000 - 2012 © CXO Advisory Group

Networking Steps

Meet people

Start conversations

Answer questions

Ask questions

Offer to Help

Build Trust

Follow Up

2000 - 2012 © CXO Advisory Group

Networking is NOT

about you ….

It’s ALWAYS about the

other person

2000 - 2012 © CXO Advisory Group

Step 1: What is Your Brand?

? Your Personal Brand is

More important than the Company Brand

2000 - 2012 © CXO Advisory Group

What is Your Brand?

“We are CEOs of our own

companies: Me Inc. To be in

business today, our most

important job is to be head

marketer for the brand

called You.” Tom Peters - 1997

2000 - 2012 © CXO Advisory Group

What is Your Personal Brand?

Communicates your

personal story

What attributes set

you apart

How do you want to

be positioned

?

2000 - 2012 © CXO Advisory Group

Step 2: Establish Your Goals

Who are you trying to

meet?

How much time to

allocate?

How many meetings each

week?

2000 - 2012 © CXO Advisory Group

Step 3: Identify Natural Referral Sources

2000 - 2012 © CXO Advisory Group

Step 4: GET A BUSINESS CARD

2000 - 2012 © CXO Advisory Group

Step 5: Start Networking Effectively

You are Not Selling

Start a CONVERSATION

Introduce yourself

Ask the other person “What

they do for a living?”

Get to know the other

person

Use open ended questions

ALWAYS CARRY

BUSINESS CARDS

2000 - 2012 © CXO Advisory Group

The Right Questions

Separates the Pros

from the Amatuers ….

2000 - 2012 © CXO Advisory Group

The Right Questions

Shows You’re

Concerned About

Helping Them Achieve

SUCCESS

2000 - 2012 © CXO Advisory Group

The Right Questions

Gets Them to Tell You

How to SELL Them

2000 - 2012 © CXO Advisory Group

Questions I Close With

Who is a Good

Prospect for You?

2000 - 2012 © CXO Advisory Group

Questions I Close With

Who Are Your BEST

Referral Sources?

2000 - 2012 © CXO Advisory Group

Step 6: Establish a Network Group

2000 - 2012 © CXO Advisory Group

Step 7: Review and Measure Effectiveness of Your Networking

2000 - 2012 © CXO Advisory Group

Working a Room/Event

2000 - 2012 © CXO Advisory Group

Be Strategic About Which Events to Attend

2000 - 2012 © CXO Advisory Group

Get There Early

2000 - 2012 © CXO Advisory Group

Don’t Hang Out With People You Know

2000 - 2012 © CXO Advisory Group

Circle & Scan for Targets

2000 - 2012 © CXO Advisory Group

Use Your Time Wisely

2000 - 2012 © CXO Advisory Group

REMEMBER!!!

2000 - 2012 © CXO Advisory Group

2000 - 2012 © CXO Advisory Group

Break Off Unproductive Conversations

2000 - 2012 © CXO Advisory Group

2000 - 2012 © CXO Advisory Group

Follow-up After the Event

Sort & prioritize

collected cards

• Contact within 48

hours

• Contact within a

week

• Those to TRASH

2000 - 2012 © CXO Advisory Group

Go Meet Someone

Make a Referral Today

Homework

2000 - 2012 © CXO Advisory Group

Questions

2000 - 2012 © CXO Advisory Group

Driving Profitable Growth

2000 - 2012 © CXO Advisory Group

Driving Profitable Growth

We help companies optimize business development and marketing; accelerate sales; and seize the most attractive growth opportunities.

2000 - 2012 © CXO Advisory Group

The CXO Advisory Group

CXO Advisory Group is a strategic operations advisory

and management firm comprised of proven C-level

executives with both breadth and depth of experience.

CXO Advisory Group Team members have achieved

success in positions ranging from: President/CEO to

COO, and VPs of Sales, Marketing, Corporate

Development and Human Resources.

Has proven success in business development and in

building US sales and distribution channels

2000 - 2012 © CXO Advisory Group

How Can CXO Help You?

Business Strategy Services

• Audit business practices and organization

• Evaluate product and pricing strategies

• Evaluate effectiveness of sales channel

• Assess effectiveness of existing sales and marketing

programs

Market Entry Program

• Analyze competitive landscape

• Market launch strategy and plan

• Channel strategy and programs

• Establish sales channels

• Generate sales and manage relationships

• Identify and develop strategic partnerships

2000 - 2012 © CXO Advisory Group

How Can CXO Help You?

Sales Channel Management

• Review and revise sales channel strategies

• Channel partner identification, prospecting and recruitment

• Eliminate channel conflict

• Channel contract development and negotiation

Business Development

• Strategic alliances

• Align sales and marketing

• Social networking integration into marketing mix

• Co-marketing ventures

2000 - 2012 © CXO Advisory Group

How Can CXO Help You?

Interim Management Resources

• Interim CEO, COO, CMO, CSO

• Interim VP of Sales and Marketing

• Consultant on staff

• Launch team coaches

Venture Advisory Services

• Fine tune operations, business strategy and market entry

• Assist with due diligence

• Strategic business assessment of portfolio companies

Stephen Davis Interim COO/VP Sales & Marketing |

Business Consultant | Sales Channel and

Business Development Expert | Author &

Speaker

Contact Information:

“Partnering With Clients to Drive

Sustainable Profitable Growth”

Phone: (508) 528-7571 Email: sdavis@cxoadvisorygroup.com Website: www.cxoadvisorygroup.com Linkedin: www.linkedin.com/in/stephendavis Twitter: twitter.com/stephendaviscxo