CRAFTING A BLUEPRINT FOR SUCCESS

Building a Strategic Business Development Program

In today’s rapidly evolving landscape, the ability to adapt and thrive amidst market shifts is crucial for sustained success. Whether facing economic fluctuations, technological advancements, or changing preferences, A/E/C firms must embrace a strategic approach to business development (BD) to navigate these challenges effectively. This article explores key strategies for creating a culture of BD, structuring your team for success, prioritizing efforts, and staying ahead of market shifts.?Contrary to popular belief, BD is more than wining and dining clients.?

Business development is focused on relationship building after initial contact. It’s about understanding client needs, deepening connections, building trust, and identifying opportunities for collaboration – all while providing solutions that add value. Importantly, BD is not just the responsibility of a dedicated department or small team of individuals; BD should be ingrained in the company’s culture and every person in your firm should understand how they contribute to building relationships with clients and prospects. While sales is focused on transactions, BD is building and nurturing relationships. It’s a long-term, relational approach aimed at creating value for both parties involved.?

Successful business development starts with creating a great business development culture internally. All employees participate in BD in some way, whether they realize it or not. From the person who answers the phone and makes a first impression to the project manager who is managing the project, the way we interact with clients results in a positive or negative experience. And so many team members within a firm have the opportunity to actively gather intelligence about client challenges, needs, and preferences in their everyday interactions. Firms who cultivate a BD mindset, and train every employee to serve as a passionate advocate for the company and for relationship building, foster a strong sense of loyalty and engagement within the firm and with their clients.?

To create intention in your BD efforts, start with a comprehensive BD plan that aligns with the company’s strategic goals. Your plan should include elements like a SWOT analysis, client personas, target clients with measurable goals, accountability tactics, collaborators, organizational involvement,?marketing support, and team expansion. Once you create a BD plan you can build a marketing plan that supports your business development goals.?

Process is critical for a successful business development program. Developing your BD process and playbook helps you streamline those processes and craft effective tools to supercharge your BD endeavors. Your goal is to stay focused on the strategic objectives that outline your BD program and work the systems, use the tools, and deploy the resources to meet your goals.?

Position your business development and marketing efforts by market rather than the services you provide or the project types you design or build. Markets are client-centric and shift the focus to the client type that is hiring you. Remember, BD planning is about how you operate and the markets you serve. Organizing your efforts by market (rather than service) allows for stronger positioning, improved efficiency, and competitive advantages simply by knowing what your clients want and providing it to them.?

Structure your team for success by assigning roles such as Market Sector Leader, Client Manager, and Client Team Members to streamline BD efforts and ensure accountability. Each role plays a specific part in cultivating relationships, identifying opportunities, and delivering value to clients.?

Adopt a strategic targeted approach to your business development efforts by focusing on ideal clients who align with the company’s values, capabilities, and growth objectives. Allocate time and resources based on client priorities and stages of engagement, with a focus on cultivating and positioning rather than solely closing deals.?

Other key tips to a successful BD process include:?

Constantly monitor market trends, client needs, and competitive landscapes to anticipate shifts and adapt strategies accordingly. Use data analytics, diversified lead sources, increased marketing efforts, and enhanced team communication to pivot effectively and maintain resilience.?

Establish regular BD rallies (no round-robin meetings) and client capture plan updates to review progress, set goals, and allocate resources effectively. Foster a culture of accountability and collaboration to drive continuous improvement and growth.?

In conclusion, crafting a blueprint for success requires a strategic BD approach that prioritizes relationship building, adapts to changing dynamics, and fosters a culture of innovation and collaboration. By embracing these principles and staying proactive in your response to market trends, firms can position for long-term success in an ever-changing business landscape.?

Strategic Time Management

HOW MUCH time to spend with your prioritized client groups?

• 60% Priority 1 Anchor Clients – Clients whose loss or gain would have a significant impact on the firm’s goals.?
• 30% Priority 2 Growth Clients – Clients who have growth potential and still meet ideal client profile.?
• 10% Priority 1 Static Clients – Clients who would not impact the firm if won or lost or those in the initial research stage of development.?

WHERE to spend time during the stages of client development?

• 20% Prospecting – Identifying the right clients and opportunities.?
• 40% Cultivating – Building strong relationships and uncovering client needs.?
• 30% Positioning – Demonstrating your value and developing innovative solutions.?
• 10% Closing – Delivering a compelling win-win proposal.?

For help with developing your strategic BD program, contact Jen Newman, FSMPS, CPSM at [email protected]