Mike Duffy on Business Development Habits – Time To Get Great At Business Development
Mo asks Mike Duffy: When was the moment that you decided that business development was important and you needed to get great at it? Mike’s dad started in sales so he had a front row seat on making sales from the very beginning. He started...
Mo asks Mike Duffy: When was the moment that you decided that business development was important and you needed to get great at it?
Mike’s dad started in sales so he had a front row seat on making sales from the very beginning. He started his sales career by selling ad space in a travel magazine, and once he got out of college, Mike started selling ladies clothes in California.
He took a $500,000 territory and in 18 months turned it into $2.5 million. He won salesman of the year at the age of 24 and ended up having a beer with his sales manager which led to a conversation that changed everything for him.
Mike took a deep dive into discovering what really makes a good sales program and he became a student of sales for the rest of his career.
Mike teaches lawyers business development now under the assumption that he has to sell the idea to his students. The goal is to help them understand that adding value to a relationship or closing a deal is sales by another name.
If we want to live the life we want, we have to get great at growth.
Start with the people you are going to call and how you can have a conversation that creates curiosity. That allows you to learn about what they need. Business development is about helping people.
Business development habits set you apart when it comes to employment as well. It’s hard to ascertain someone’s technical expertise in a 30-minute interview, but it’s obvious when you care, listen intently, and make the conversation about the other person.
You always have to be thinking about the long game. Some prospects may not turn into clients for years, so you need to focus on just moving the ball a little bit further each day.
Be transparent, have humility, and be honest. Tell people when they are your #1 target and allow them to shape the relationship in a way that’s valuable for them.