How Business Owners Can Develop a Strong Business Development Mindset

If you are like the vast majority of entrepreneurs I have coached or consulted with over the years, you’re default behavior is just to put your head down and focus single-mindedly on delivering your products or services. Your unspoken but unquestioning belief is that if you just worry about delivering excellent service, the business will come.

Wrong.

In today's competitive environment, you can't afford to simply wait for business to come to you. Adopting a business development mindset is critical for driving growth.

What does this mean? It's about being strategic and proactive in going after new business opportunities. Here are some key elements of the business development mindset:

See Yourself as a Growth Leader

Don't just view yourself as an operator. Embrace your role as a growth leader for your company. Be open to new ideas, partnerships, and collaborations that could expand your reach. Once you truly adopt this growth-focused mindset, it will permeate through your team as well.

Honestly and Objectively Evaluate Your Offering

Take an outside-in view to assess your products or services. Look at your products and services not as you think they are, but as how they appear to your customers and prospects.

Identify any gaps in your offering, weaknesses to improve, or opportunities to tailor to customer needs. Get feedback from clients on what aspects they value most. Use this knowledge to continuously refine your offering for greater appeal.

Expand Your Network

Actively build relationships with existing and new referral sources and potential partners. Join industry/community organizations and attend events to make new connections. Build your visibility through social media and content. A broad network improves access to new opportunities.

Craft a Targeted Outreach Strategy

Do your research to develop a list of viable prospects. Craft customized outreach messages focused on communicating the value you provide. Leverage email, phone calls, social media and in-person meetings. Set goals and track your outreach efforts to determine what works best.

Maintain Disciplined Follow-Up

Persistence pays off. Methodically follow up and build rapport with prospects over time. Set reminders for when to check in again. A good basic CRM system will help immensely with this, but even if you use the old-fashioned calendar and note card approach, the key is consistency in nurturing your connections.

Does shifting to a business development mindset take some adjustment and effort? Of course it does. But doing so should be non-negotiable if you’re serious about maximizing your business success.

Taking a strategic approach to seeking new opportunities – seeing yourself as a strategic growth leader, assessing your offering, expanding your network, crafting an outreach strategy and diligently following up - you can successfully develop new business and achieve your growth goals.

Sound simple? That's because it is!

But just because it's simple doesn't mean it's easy.