Melvin Feller MA Discusses Business Development Ideas
Melvin Feller MA Discusses Business Development Ideas
Melvin Feller is known as “The Entrepreneur’s Mentor” because Melvin walks his talk. Melvin Feller has been there and done that and more importantly, Melvin Feller knows how to transfer the skill set for success. This is main reason that he has been the sought after coach to hundreds of small business owners, entrepreneurs, Realtors, Real estate investors and service professional internationally. Melvin Feller’s main talent is to show you how the step by step process to build and enjoy a successful 6-figure plus business while having a balanced life. Melvin Feller is currently pursuing another graduate degree as an MBA.
If you are satisfied with the level of business and the profitability of your firm — STOP. If you want something better for yourself and your firm — READ ON! READ ON!
Most business students upon graduation are comfortable with their technical education and envision a position where their knowledge and some common sense will provide the means to have a successful career. Then they enter the business world. So, where in their business curriculum did they learn the people skills and business savvy necessary to go out and “get business” for their company or firm? In this current sluggish economy, acquiring new business is proving to be a greater challenge each day, and getting clients to make decisions takes skills that most of us did not acquire in college. The old adage “experience is the best teacher” often proves to be a very expensive educational lesson.
How do you develop business in your company or firm? Are you able to be selective in going after profitable business or are you forced to take what business comes your way? Why is your competition selected over you; are they doing something you are not? Is it technical ability or something else? Are you proactive or reactive in your search for Business? How can you drive business your way? Is the profitability of your firm in someone else’s hands?
What is Business Development (here after referred to as BD)? BD is a way of thinking and the process of establishing and enhancing long-term business relationships, where all parties involved benefit and profit. BD is also a behavioral discipline through which practitioners generate revenue and positively impact the bottom line. The BD mindset clearly communicates purpose ahead of goal — the practitioners place the client’s highest goal (purpose) ahead of their own goals.
The professional business partner does not just do things better than a traditional salesperson they think and do things differently and at a different level. They:
• think like a business person
• build long-term business relationships
• come from a win-win business position
• know the balance between goal and purpose in BD
• are customer focused and allow clients to qualify themselves to facilitate decision making
• understand how clients think
• know people buy to overcome or avoid pain
• know which questions to ask and how to ask them
• have a BD Process
• know clients don’t care how much you know until they know how much you care.
From the list above, it’s clear that the fundamentals of successful BD center around: Process/ Skills, People/ Psychology and Leadership.
As an example, in a recent conversation, a senior principal of a successful accounting company / firm asked: “What happens to my firm when I’m not able to develop business to keep my firm profitable or existing? Who in my firm will take over my BD responsibilities? Where will those individuals acquire the thinking and skills to do BD? As key client decisionmakers change, how do we keep our firm plugged-in to influence decisions?
We need to know how to stay in front of decision makers since our firm’s profitability is dependent on constantly developing additional business. We know our future success is based on acquiring sound people skills and we need to understand that people make buying decisions not firms.”
Of course, in this environment having the required technical skills is a fundamental requirement. It’s those individuals who understand why and how clients think that give them the “edge” to be successful in their BD efforts. While this ability may be considered the “soft skills” that technically trained people often overlook, this capability is the mortar that holds the “technical blocks” together, and can make all the difference in the success of your BD efforts. Successful BD people know how to do the “people stuff”, and understand that people buy emotionally and rationalize their decisions intellectually.
In the role of BD, it is critical to have confidence in your process to lead the client in making decisions. If you do not have and use a process, you will become part of someone else’s process (the Client’s) and you can lose control of your BD efforts. Instead of being proactive and moving in the direction you want to go, you become reactive and dependent on your client who will then control your opportunities.
Melvin Feller MA Texas and Oklahoma. Melvin Feller founded Melvin Feller Business Group and Melvin Feller Ministries in the 1970s to help individuals and organizations achieve their specific Victory. Victory as defined by the individual or organization are achieving strategic objectives, exceeding goals, getting results or desired outcomes and a positive outreach with grace and as a ministries. He has extensive experience assisting businesses achieve top and bottom line results. He has broad practical experience creating WINNERS in many organizations and industries. He has hands-on experience in executive leadership, operations, logistics, sales, program management, organizational development, training, and customer service. He has coached teams to achieve results in strategic planning, business development, organizational design, sales, and customer response and business process improvement. He has prepared and presented many workshops nationally and internationally.