The one sentence summary
Using personal chemistry to convert contacts into contracts works better than spreadsheets and pestering.
Can’t be bothered to read it? Too much screen time lately? Listen to the 5-minute podcast in two parts.
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:
- Do your research: don’t send out generic stuff.
- Connect as people, not prospects: show the kindness of strangers.
- Hunt in a pack and take your time: approach a company from many different angles and patiently seek those from many disciplines.
- Seek to understand and then seek to help.
- 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.