The one sentence summary

Using personal chemistry to convert contacts into contracts works better than spreadsheets and pestering.

WHAT THE BOOK SAYS

  • This book is all about prospecting for and winning new business. Good business developers know how to create chemistry with the people they meet. They catalyse a positive reaction from strangers when they connect.
  • Diligent farmers are the best model for business developers to adopt. They nurture other peoples’ interests and then reap the benefit when the appropriate time comes.
  • By contrast, sales dogs and spreadsheet bureaucrats generate a lot of online and meeting activity but don’t do as well. Interestingly, 80% of sales require five follow-up calls after the meeting but 44% of sales representatives give up after one follow-up.
  • Stop trying to control your networking universe. It works best when you let it be its natural state: random. Show up and keep showing up because you never know who you will meet and what might happen.
  • It’s all about developing chemistry – how you make them feel.
  • Beware of charmers at networking events who want a contact or a sale but are only interested in themselves. They are called ANTHONYs:
  • All about me
  • Not interested in you
  • That reminds me of something I did that is a lot more interesting than what you did
  • Happy to talk over you
  • Over your shoulder is someone far more useful to me (scanning the room)
  • Never follow up or say thank you if you help them
  • You are now, apparently, one of 500 of their closest friends
  • Being helpful is the aim. Help the prospect identify their real needs, expand them, and create new ones. Approaches to a prospect should be completely customised every time – do not cut and paste from previous efforts. The best approach is:
  1. Do your research: don’t send out generic stuff.
  2. Connect as people, not prospects: show the kindness of strangers.
  3. Hunt in a pack and take your time: approach a company from many different angles and patiently seek those from many disciplines.
  4. Seek to understand and then seek to help.
  5. Don’t make enemies: smile and keep going.

WHAT’S GOOD ABOUT IT

  • To fashion the right approach, you need to understand 4 different types of people: Drivers, Expressives, Amiables, and Analyticals. Work this out first and tailor your approach accordingly.
  • The FEES method: Facts, Explore, Expand, Specify the solution.
  • After a presentation, 63% of attendees remember stories. Only 5% remember statistics.
  • “Integrity is doing the right thing, even when no one is looking.” S. Lewis
  • “Know what you need to know before you believe what you want to believe.” CIA expression
  • “If you’re not getting flack, you’re not over the target.” RAF expression

WHAT YOU HAVE TO WATCH

  • Not much. New business is quite a specific topic but if you are interested in it then there are many approaches to learn from here.