Construction of the Business Development Plan and Targeting A workshop hosted by Sherran S. Spurlock October 24, 2005

Sherran S. Spurlock 9/19/05 ACTION ITEMS (From Basic Principles of Business Development Workshop) 1.List existing and past clients 2.Research networking events 3.Elevator speech 4.Define the IDEAL client 5.Develop a target list 6.Form questions that will help you gather the information you want.

Sherran S. Spurlock 9/19/05 Why Create a Plan A Road Map Set priorities and targets Work Smarter – not more Systematic approach Set goals and measurements Avoid getting caught up in some else's priorities A returning place when sidetracked

Sherran S. Spurlock 9/19/05 Parts of the PLAN 1.Mission Statement and Purpose 2.Identify target segments and prospects 3.Define Criteria 4.SWOT (Strengths, Weaknesses, Opportunities, Threats) 5.How plan will be implemented and used 6.Who will be responsible

Sherran S. Spurlock 9/19/05 Plan Preparation Loose Leaf Notebook –Keep it simple –Room for notes –Double spaced with wide margins to allow for notes and changes –Use dividers or tabs to separate major sections –Use plenty of headings and subheadings for clarity. –Update at least annually

Sherran S. Spurlock 9/19/05 Section 1. Defining Our Purpose What is our Objective? Current situation? Where do we want to go? How do we get there? Who will be driving? How long will it take? Costs? Expected Profit

Sherran S. Spurlock 9/19/05 Decide Where to Focus Efforts Where is most of our work coming from? What our long term goals? What are skill sets in our office? What is most profitable type of work? Most profitable type of client? Geographic area?

Sherran S. Spurlock 9/19/05 Defining Targets –Previous Clients Reestablish relationship Ask to conduct customer satisfaction surveys –Existing Clients - new (additional) work –New Clients - using existing experience Education, Transportation, Municipalities, Government, Contractors, Attorneys, etc. –Combination

Sherran S. Spurlock 9/19/05 Target Prospect Information Name and Location Type of business Decision Makers Phones and s Project opportunities MBP services they might need

Sherran S. Spurlock 9/19/05 Define Client Criteria Good fit for MBP Services Understands the value we bring We understand their business We have an internal champion A trusting relationship has been or can be established The company is financially stable Similar corporate structure and values Fairly and timely compensates business partners

Sherran S. Spurlock 9/19/05 RFP Criteria RFP and RFQ response –Target prospect –Good fit for MBP –Existing relationship –Knew about it before it became public –Reasonable timeframe

Sherran S. Spurlock 9/19/05 SWOT Analysis Strengths Weaknesses Opportunities Threats

Sherran S. Spurlock 9/19/05 Implementation Communication Methods –Direct Phone Personal Connection Networking –Indirect Mailings s Advertisement

Sherran S. Spurlock 9/19/05 The Process Define a target prospect –meet at networking or other event –Or make cold call, then Follow up with information about MBP Contact again to request meeting Outline questions to guide conversation Then follow up again …and again….

Sherran S. Spurlock 9/19/05 Rifle versus Shotgun Shot Gun Approach –Busy work – waste of time Rifle Approach –Targeted effort - more effective

Sherran S. Spurlock 9/19/05 Brick by Brick Each brick builds on the previous

Sherran S. Spurlock 9/19/05 Networking Part of the overall BD Effort Which ones? –Trade Organizations your prospect belongs your competition is there –List and prioritize A….B….C categories Who is responsible?

Sherran S. Spurlock 9/19/05 The Individual Plan Apply the plan to the individual –Who has the knowledge? –Who has the time –Who is dependable? –Must be coordinated

Sherran S. Spurlock 9/19/05 Example of Individual Plan Joe has knowledge of a particular area of MBP service. 1.List prospective company and contacts 2.Determine geographic area 3.Determine networking organizations 4.Research and build schedule –Decide what their needs are likely to be –Prepare list of questions to gather information –Make contact and set up meeting

Sherran S. Spurlock 9/19/05 It’s a living document Subject to changes and updates Review periodically Make necessary changes USE your plan!

Sherran S. Spurlock 9/19/05 Next Session- Putting the Plan Into Action How to be a “Rainmaker” –November 14 –Create new business through Relationship skills Networking Writing and publishing Working events And other methods of meeting prospects and clients face to face

Sherran S. Spurlock 9/19/05 Sherran S. Spurlock Atlanta Office: