Latest / What is Business Development? / Episode 74: BD Leader...Top 3 Tactics from Gilad Liptz, Founder of the BizDevExec Club

Transcript

Episode 74: BD Leader...Top 3 Tactics from Gilad Liptz, Founder of the BizDevExec Club · What is Business Development?

• 0:03
  Speaker 1: Welcome to the Business Development Podcast, brought to you by
• 0:07
  Speaker 1: the Global Business Development Association, delivering the strategies and tactics
• 0:11
  Speaker 1: to boost your career and corporate growth.
• 0:21
  Speaker 2: Hello BD pros, and welcome to the Global Business Development
• 0:25
  Speaker 2: Association's podcast called What is Business Development? Now? Look, folks,
• 0:32
  Speaker 2: I've said this many times before on this podcast, business
• 0:35
  Speaker 2: development is a team sport, and as the Global Business
• 0:39
  Speaker 2: Development Association, we try to bring all of those team
• 0:43
  Speaker 2: members under one big, beautiful tent. And we have so
• 0:48
  Speaker 2: many associations now rapidly growing around the world that are
• 0:53
  Speaker 2: local to specific markets. And I've also emphasized many times
• 0:56
  Speaker 2: before the business development body of knowledge by the Global
• 1:01
  Speaker 2: Business Development Association. We'll give you competency that's global. We
• 1:05
  Speaker 2: can all be on the same sheet as music around
• 1:08
  Speaker 2: the world as business developers pick up the phone, contact
• 1:11
  Speaker 2: and work with each other on common basic principles. But
• 1:16
  Speaker 2: if you want to be a success in a specific market,
• 1:19
  Speaker 2: you need to understand the social norms, you need to
• 1:23
  Speaker 2: understand the local best practices, and most importantly, as a
• 1:27
  Speaker 2: team sport, you need some great contacts in that market,
• 1:30
  Speaker 2: some great fellow business developers to help you succeed and today,
• 1:35
  Speaker 2: we're bringing one of those fellow business developers. He's a
• 1:38
  Speaker 2: leader in the Israeli market and our guest today is
• 1:42
  Speaker 2: Gilad Lipps. He's made great relationships and great relationships are
• 1:49
  Speaker 2: great for business. He's hands on as a business development
• 1:52
  Speaker 2: salesperson project management partnerships. He started off in project management
• 1:58
  Speaker 2: and about twelve years ago entered into the business development profession.
• 2:02
  Speaker 2: He's also not only hands on but head on with strategy, leadership,
• 2:08
  Speaker 2: negotiation skills and most importantly in this profession, it's all
• 2:13
  Speaker 2: about building trust. And what is trust? It's the fundamental
• 2:17
  Speaker 2: foundation for love. And he's heart on with relationships in
• 2:22
  Speaker 2: networking and he is the founder of the biz dev
• 2:27
  Speaker 2: exec Club located in Israel, and it's designed to help
• 2:32
  Speaker 2: all business development executives in that market succeed. It's a
• 2:37
  Speaker 2: group of Israeli business development executives and leaders in Israel
• 2:42
  Speaker 2: and abroad and the goal is to provide an accessible
• 2:45
  Speaker 2: community for collaboration, networking, hiring and business opportunities. We love
• 2:53
  Speaker 2: business opportunities and we love to hear how we can
• 2:56
  Speaker 2: get some of those great business opportunities from GETA today.
• 3:00
  Speaker 2: So gay Laud, welcome to the show.
• 3:02
  Speaker 3: Tony, thank you so much for having me.
• 3:04
  Speaker 2: Well, it's great to have you here, and we're slowly
• 3:07
  Speaker 2: making our way around the world to all of the organizations.
• 3:10
  Speaker 2: We had bd PROS in New York City with Gary Anzelone.
• 3:15
  Speaker 2: Gary's the founder of bd PROS, which originally started as
• 3:18
  Speaker 2: the International Business Development Association, and by the way, they
• 3:21
  Speaker 2: just started launched a new chapter in South Florida. So
• 3:24
  Speaker 2: if anybody on this call is listening and wants to
• 3:27
  Speaker 2: go to South Florida or is in South Florida, go
• 3:32
  Speaker 2: to bed PROS, connect with them and join that organization.
• 3:35
  Speaker 2: We also had the Business Development Associations in other parts
• 3:42
  Speaker 2: of the world and Africa that we've engaged with, in
• 3:45
  Speaker 2: Europe that we've engaged with, So I'm super excited to
• 3:47
  Speaker 2: have you from Israel, gailad and talk to us a
• 3:51
  Speaker 2: little bit. First off, how did you start in the
• 3:54
  Speaker 2: business development profession and why did you create the biz
• 3:58
  Speaker 2: Dev Exec Club.
• 3:59
  Speaker 4: Yeah, well, great, Domini. I'll start from the beginning, I
• 4:03
  Speaker 4: guess or what I think is the beginning. So you
• 4:06
  Speaker 4: mentioned I on my background going back twelve fourteen years
• 4:09
  Speaker 4: ago in project management.
• 4:12
  Speaker 3: Actually I was on your side of the globe.
• 4:14
  Speaker 4: I was based in just outside of the Boston, Massachusetts,
• 4:18
  Speaker 4: relocated with an Israeli company. And the time, oil prices
• 4:24
  Speaker 4: were very high and there was a lot of it
• 4:27
  Speaker 4: investment in the oil and gas industry, and I was responsible.
• 4:31
  Speaker 4: I led the implementation teams doing oil and gas projects
• 4:35
  Speaker 4: and into these vast.
• 4:38
  Speaker 3: Projects they were we had our project plan. I was
• 4:41
  Speaker 3: the vendor.
• 4:42
  Speaker 4: I had a customer, and I managed to work, you know,
• 4:46
  Speaker 4: work the works. But then I slowly and slowly noticed
• 4:50
  Speaker 4: that there are more players in the game. But we have, example,
• 4:54
  Speaker 4: the Center of the world, the SAPs, the Deloittes, and
• 4:59
  Speaker 4: I said, just said it.
• 5:00
  Speaker 3: If I they're essential to the game.
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  Speaker 4: If I go out and I have a beer with
• 5:05
  Speaker 4: it Centure and right, you have beer with Center, that's
• 5:07
  Speaker 4: part of the game.
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  Speaker 3: That's great. That's where business is done.
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  Speaker 4: I don't charge the project for it, right, Or if
• 5:14
  Speaker 4: I sit down with.
• 5:15
  Speaker 3: PwC and run a two to five year plan.
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  Speaker 4: That doesn't fit in the gand it's got to fix
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  Speaker 4: somewhere else. And that's where I started drawing this mental
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  Speaker 4: theoretical box. And I was looking for a name for
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  Speaker 4: this box, and I said, wouldn't strategy be a good
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  Speaker 4: name to kind of hold greater things, greater than the project,
• 5:38
  Speaker 4: greater than the gand but within strategy, what do I do?
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  Speaker 4: And it literally, Tony took me a good ten years
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  Speaker 4: to understand that maybe what I'm doing is business development.
• 5:51
  Speaker 4: So throughout the old decade coming from project management, first
• 5:57
  Speaker 4: step was, as it described, working with partners, acknowledging the
• 6:01
  Speaker 4: importance and the challenge of working with partners. Then long
• 6:05
  Speaker 4: term planning initiatives, new territories and products.
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  Speaker 3: Well, maybe I'm a business developer.
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  Speaker 4: So that was the ten, twelve, fourteen years of evolution
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  Speaker 4: that brought me to where I am now, where I
• 6:17
  Speaker 4: call myself a business developer, or he's presumed to.
• 6:22
  Speaker 3: Call myself a business developer.
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  Speaker 2: I love that story because it maps so closely to
• 6:28
  Speaker 2: my pathway as well into the business development profession. Gillot
• 6:32
  Speaker 2: I started in project management. I think I saw my
• 6:36
  Speaker 2: first business developer in the wild in two thousand and one,
• 6:39
  Speaker 2: and I thought I would love to do that. And oh,
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  Speaker 2: I think I'm actually doing some of that right now
• 6:44
  Speaker 2: in my job. And then it took me ten years
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  Speaker 2: to break into the profession. And folks, it's great to
• 6:50
  Speaker 2: see organizations like biz dev exec Club coming together with GBDA,
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  Speaker 2: the Business Development Body of Knowledge, because you know, the
• 6:59
  Speaker 2: whole objective here is to lower the bar, lower the
• 7:03
  Speaker 2: bar for entry into our profession. If you're a project
• 7:05
  Speaker 2: manager and you're thinking, oh, I'd love to be a
• 7:07
  Speaker 2: business developer, now you have a pathway to do that.
• 7:09
  Speaker 2: You don't have to wait ten years. You don't have
• 7:11
  Speaker 2: to figure it out on your own, like Glad for
• 7:13
  Speaker 2: twelve years ago. And I think I'm doing business development,
• 7:15
  Speaker 2: but I'm not sure. Can I call myself a business developer?
• 7:18
  Speaker 2: Now you can? Okay, this is this is so wonderful
• 7:22
  Speaker 2: that what you're doing at the local level in your
• 7:25
  Speaker 2: country and your community and the diaspora as well of
• 7:29
  Speaker 2: it's just fantastic.
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  Speaker 3: Thanks Toonan.
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  Speaker 4: You know, you actually hit the nail on the head
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  Speaker 4: there wearing the or donning the help of.
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  Speaker 3: A business developer.
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  Speaker 5: I just paused, probably somewhere around the twenty nineteen ish timeframe,
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  Speaker 5: and I asked, do I actually know what I'm doing
• 7:50
  Speaker 5: even ten years into it?
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  Speaker 4: And I said, I'm not sure, And wouldn't be wouldn't
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  Speaker 4: it be fantastic? Well, if I could hire a coach,
• 7:58
  Speaker 4: that'd be great, But I have the budget is there
• 8:01
  Speaker 4: that capacity.
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  Speaker 3: But wouldn't it be absolutely fantastic if I had.
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  Speaker 4: A community to reach out to a community of business
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  Speaker 4: development experts that I could go back to my bosses
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  Speaker 4: and say, hey, there's a community of fifty one hundred
• 8:15
  Speaker 4: and five hundred development professionals here that I reached out
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  Speaker 4: to and together we put they helped me to put
• 8:22
  Speaker 4: together strategy. So that was and I think that's exactly
• 8:25
  Speaker 4: what you're talking about, this vast network of professionals. We
• 8:28
  Speaker 4: are here to help each other grow and build a
• 8:31
  Speaker 4: profession and this was one of the key vectors that
• 8:35
  Speaker 4: brought me to found the Business exec Club back in
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  Speaker 4: twenty nineteen. If it's okay, what you would like to
• 8:43
  Speaker 4: share a personal story to add to that, because I
• 8:46
  Speaker 4: think there's that personal flavor which we probably call relationship,
• 8:52
  Speaker 4: so to that very professional clear business.
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  Speaker 3: May I call it.
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  Speaker 4: Capitalist aspect of business development, which is fine because that's
• 9:04
  Speaker 4: the profession of development the business.
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  Speaker 3: I had a good friend worked way back together at SAP.
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  Speaker 3: He was a tremendous guy. He still is.
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  Speaker 4: Unfortunately, this friend of mine called the Rome back in
• 9:19
  Speaker 4: twenty nineteen went out to the Judean Desert as it
• 9:23
  Speaker 4: was about to help his cousin who suffered fear of heights.
• 9:26
  Speaker 4: Their own slipped and became paralyzed. When I reached out
• 9:31
  Speaker 4: to d N at the rehab, he was on a
• 9:34
  Speaker 4: call with a French multi millionaire trying to get a
• 9:38
  Speaker 4: donation to the hospital, and I said, that is probably
• 9:45
  Speaker 4: what I need to do. How can I connect the
• 9:47
  Speaker 4: capital as a business developer with the support to the individual,
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  Speaker 4: and doesn't that then build a community, putting the professional
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  Speaker 4: aspect alongside with the individual being in the focus the forefront.
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  Speaker 4: How can we help each other, which is what we're
• 10:09
  Speaker 4: here now on the call discussing how can we all
• 10:11
  Speaker 4: help each other be better business developers for the greater good.
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  Speaker 4: So just wanted to share the professional asset that I
• 10:19
  Speaker 4: believe adds to the context of the Business exec Club.
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  Speaker 2: Yeah, well, Guillard, such a powerful story and it resonates
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  Speaker 2: with me because I post on LinkedIn. I tell people
• 10:33
  Speaker 2: I'm on a peacekeeping mission and people say, well, I
• 10:36
  Speaker 2: don't get it. You're a business developer. What does that
• 10:39
  Speaker 2: have to do with peacekeeping? And I tell them a
• 10:41
  Speaker 2: famous military axiom that says, if goods and services do
• 10:45
  Speaker 2: not cross borders, soldiers will, and so we as business developments,
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  Speaker 2: we collectively are driving the global good, not just the goods,
• 10:56
  Speaker 2: not the goods and services. We are driving good. Hey,
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  Speaker 2: we're sharing, We are building trust globally as business developers,
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  Speaker 2: sharing the best of what our cultures, our countries have
• 11:09
  Speaker 2: to offer. And we're helping everybody out as one team.
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  Speaker 2: And it brings the world together. It unites us because
• 11:17
  Speaker 2: at the end of the day, fundamentally you start off
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  Speaker 2: in the first few pages of the Business Development Body
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  Speaker 2: of knowledge. Business development is trust building. That's it. No
• 11:26
  Speaker 2: deal ever gets done without one iota of trust. You
• 11:31
  Speaker 2: don't have trust, the deal will never get done. And
• 11:33
  Speaker 2: so we're trust builders around the world and we're peacemakers.
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  Speaker 2: So good od that I love that story. All right, Well,
• 11:40
  Speaker 2: I'll tell you what. It's a team sport. Everybody loves
• 11:43
  Speaker 2: to share tactics with their teams and what works, what
• 11:46
  Speaker 2: doesn't work. And so I always love to bring folks
• 11:49
  Speaker 2: on the show and here, what are their top three tactics,
• 11:52
  Speaker 2: What are the top three takeaways in their mind as
• 11:54
  Speaker 2: to what makes a great business developer. So I'd love
• 11:57
  Speaker 2: to hear if we can your number one tactic.
• 12:01
  Speaker 4: Sure, I would say a business developer should sing Okay,
• 12:08
  Speaker 4: let's just pause, let's just lingern that.
• 12:10
  Speaker 3: So let's break down sing S I n G. This
• 12:15
  Speaker 3: would be the.
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  Speaker 4: Significant contribution to the business. We're not the marginal one
• 12:20
  Speaker 4: more deal. Nothing against more deals. We're all into more deals.
• 12:24
  Speaker 4: But the significant aspect of business development is the bi
• 12:28
  Speaker 4: probably the needle mover, you name it. That is the
• 12:31
  Speaker 4: s of we're waking up in the morning and singing.
• 12:36
  Speaker 4: Business must have a significant contribution to the business. The
• 12:42
  Speaker 4: I would be the innovative, something new, not more of
• 12:47
  Speaker 4: the same.
• 12:48
  Speaker 3: There are so many.
• 12:49
  Speaker 4: People, great people, important people in their organization who wake
• 12:53
  Speaker 4: up to their saying day job fantastic is essential, crucial.
• 12:57
  Speaker 3: To the business.
• 12:58
  Speaker 4: There's got to be one guide or a team or
• 13:02
  Speaker 4: an entity that wake up and say, no more of
• 13:07
  Speaker 4: the same. We're going to be the innovators, whether it's
• 13:10
  Speaker 4: brand new, whether it's renew And I always give myself
• 13:14
  Speaker 4: the example of my wife has a pair of.
• 13:17
  Speaker 3: Genes in her in her near.
• 13:19
  Speaker 4: Closet that she wore probably five years ago. Maybe those
• 13:23
  Speaker 4: pair of genes are back in fashion. That is the
• 13:26
  Speaker 4: art of daring and saying let's renew something. Why because
• 13:34
  Speaker 4: it could make a significant impact. And now over to
• 13:37
  Speaker 4: the G of the SING, so significant innovative G goes
• 13:42
  Speaker 4: to growth. Business developers contribute to growth. We're not operational.
• 13:48
  Speaker 4: With all due respect to operations, we are measured by
• 13:52
  Speaker 4: the overall return on investment. We gotta be patient in
• 13:57
  Speaker 4: us ourselves as business developers that are going tozations in
• 14:00
  Speaker 4: which we work to bear with us for months, years,
• 14:06
  Speaker 4: five years out to demonstrate the overall r I. And
• 14:12
  Speaker 4: if you wake up in the morning and you have
• 14:13
  Speaker 4: some kind of balance of S I N G significance
• 14:19
  Speaker 4: innovative growth, you're probably doing business development. So that's my
• 14:24
  Speaker 4: first kind of tactic of make sure you wake up
• 14:27
  Speaker 4: in the morning and.
• 14:29
  Speaker 3: You sing your way through the day.
• 14:30
  Speaker 4: Easier said none, but that's significant innovative growth.
• 14:35
  Speaker 2: Yeah, I like that, all right, S I N G
• 14:38
  Speaker 2: significance innovation and N stands for the end goes with
• 14:43
  Speaker 2: the I M so it's innovative.
• 14:47
  Speaker 3: I have to put something together.
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  Speaker 4: Actually, one of my students said, hey, it's actually sing.
• 14:52
  Speaker 4: So it's the S for significant, I N for the innovative,
• 14:55
  Speaker 4: and then the G for the growth.
• 14:57
  Speaker 2: Yeah. Yeah, I love that. Signific against innovation and growth sing. Well.
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  Speaker 2: I'll be singing that acronym all day long because that
• 15:07
  Speaker 2: really embodies a lot of what the business development professional
• 15:11
  Speaker 2: is all about. You know, significance meaning in the business
• 15:16
  Speaker 2: development body of knowledge, I reference that as purpose. You know,
• 15:20
  Speaker 2: do you have a valid purpose? And purpose is what
• 15:25
  Speaker 2: we humans are fueled by. Pure purpose. This is what
• 15:29
  Speaker 2: makes us motivated every day. And it's and it's not
• 15:33
  Speaker 2: just a nicety to say, it's actually neuroscience. Purpose triggers dopamine.
• 15:39
  Speaker 2: Dopamine is the purpose drug. So every time we achieve
• 15:43
  Speaker 2: a purpose, we have a little flicker of dopamine that
• 15:47
  Speaker 2: triggers in our mind and continues us down that path
• 15:50
  Speaker 2: on that purpose. And it's what wakes us up in
• 15:53
  Speaker 2: the morning and puts a little pep in our step
• 15:56
  Speaker 2: and a makes us sing throughout the day. Because also
• 15:58
  Speaker 2: the innovation piece is constantly looking at the organization. The
• 16:01
  Speaker 2: process is the relationships with the customers, the relationship with
• 16:04
  Speaker 2: the community, and saying what can we do better? What
• 16:06
  Speaker 2: are the competitors doing that we're not doing. What are
• 16:09
  Speaker 2: the customers saying that they want, What are the prospects
• 16:12
  Speaker 2: saying that they want? We need to innovate because all
• 16:15
  Speaker 2: of that comes together in growth that measurable return on
• 16:19
  Speaker 2: investment of growth. And that's what we're all judged on
• 16:22
  Speaker 2: is is the organization growing? Are we contributing to that growth?
• 16:26
  Speaker 2: So I love the sing as your top takeaway? There
• 16:31
  Speaker 2: is there a number two? Or is number two blended
• 16:33
  Speaker 2: in with the sing?
• 16:35
  Speaker 3: Happy to go with number two? And number two goes to.
• 16:40
  Speaker 4: The fact that we keep looking for the win, win,
• 16:43
  Speaker 4: and I think that's fantastic. So the two customers, the
• 16:46
  Speaker 4: two business reps from the both the parties say okay,
• 16:50
  Speaker 4: we think we got something good and we think it's
• 16:52
  Speaker 4: a win win, And incomes the director and says, yeah,
• 16:57
  Speaker 4: well it's a win win for both party and it's
• 16:59
  Speaker 4: a win for the customers. Well, of course it's a
• 17:01
  Speaker 4: win win win, And incomes the VP and says, well,
• 17:05
  Speaker 4: my grandmother always thought about doing business with IBM, so
• 17:09
  Speaker 4: it's a win for my grandmother too.
• 17:11
  Speaker 3: And we're all about winning, which is fantastic.
• 17:15
  Speaker 4: Where are we willing to sacrifice? Mind you lose? So
• 17:23
  Speaker 4: it's fantastic to look for the win. We're all looking
• 17:26
  Speaker 4: for the win and let it. Let it be a
• 17:27
  Speaker 4: mutual win. That's the art we must remember. Easier said
• 17:32
  Speaker 4: than done that in every win, we must invest, we
• 17:38
  Speaker 4: must sacrifice, sacrifice, we must reprioritize. And I think the
• 17:43
  Speaker 4: biggest fault in my business career is in a contract
• 17:48
  Speaker 4: where both parties self included, constantly, stubbornly only looked for
• 17:55
  Speaker 4: the win. And I can say the only person who
• 18:00
  Speaker 4: one is the lawyer managing the contract. Everybody else lost.
• 18:05
  Speaker 4: The contract fell through. The partnership didn't actually happen. The
• 18:12
  Speaker 4: lawyer won a hefty amount, but the almost the greed
• 18:18
  Speaker 4: of constantly looking on what can I take more from
• 18:22
  Speaker 4: the partnership without that willingness for the other part party
• 18:27
  Speaker 4: to benefit caused this specific And I still have a
• 18:30
  Speaker 4: part this the scar tissues to fall through. So win
• 18:34
  Speaker 4: win is great. You don't need to lose. You need
• 18:38
  Speaker 4: to identify the investment in order to facilitate the win.
• 18:46
  Speaker 2: Yeah, well, gilaid, I could tell you're a fellow business
• 18:49
  Speaker 2: development philosopher because this was something that drove me down
• 18:52
  Speaker 2: this path as well. You know, if you look at
• 18:54
  Speaker 2: the modern business organization, and I'll say, up until about
• 19:00
  Speaker 2: twenty years ago, you had the typical structure of the CEO,
• 19:05
  Speaker 2: the CFO, the COO. Okay, now ask yourself. What is
• 19:11
  Speaker 2: the primary objective of the CEO. The chief executive officer's
• 19:15
  Speaker 2: role is to advocate for the shareholders, right, that's their mission.
• 19:21
  Speaker 2: They are reporting to the shareholders. The CFO, well, they're
• 19:26
  Speaker 2: advocating for profitability, the financial viability of the business. Very
• 19:31
  Speaker 2: selfish oriented right inward about the business, about the corporation.
• 19:35
  Speaker 2: What about the CEO. Oh, well, their objective is to
• 19:38
  Speaker 2: make sure that they run their operations profitably. So they're
• 19:42
  Speaker 2: focused on what's in it for the company. And I
• 19:45
  Speaker 2: asked myself who in the boardroom is responsible to the customer?
• 19:51
  Speaker 2: Who advocates for the customer? And then I realized, wait,
• 19:54
  Speaker 2: this is the role of the business developer and the
• 19:57
  Speaker 2: most senior business developer Now, title that came around in
• 20:01
  Speaker 2: the late nineteen nineties is the chief growth officer. That
• 20:04
  Speaker 2: chief growth officer is the advocate for the customer. Now,
• 20:09
  Speaker 2: we have somebody who walks into the boardroom and says, well,
• 20:12
  Speaker 2: it's great for the company, but it's a horrible thing
• 20:15
  Speaker 2: for the customer. So we need to change the way
• 20:17
  Speaker 2: we do business because we're not helping out, we're not
• 20:20
  Speaker 2: advocating for our customer. That trickles down to the individual
• 20:23
  Speaker 2: business developer. Our mission is to be the advocate for
• 20:26
  Speaker 2: the customer, the advocate for the prospect, so that when
• 20:29
  Speaker 2: you're sitting there in a boardroom deciding are we going
• 20:31
  Speaker 2: to sell this product to customer XYZ, and we say
• 20:35
  Speaker 2: it's the wrong product for them, This is not the
• 20:38
  Speaker 2: right solution. It does not help them achieve their purpose.
• 20:41
  Speaker 2: We're not being empathetic, we're not listening to them, and
• 20:43
  Speaker 2: we're not being truthful. Purpose, empathy and truth these are
• 20:47
  Speaker 2: the fundamental components based on neuroscience that create trust. If
• 20:52
  Speaker 2: you have no trust in the relationship, that deal will
• 20:53
  Speaker 2: fall through, just like the deal you just you mentioned, Gilad.
• 20:57
  Speaker 2: And so this is such a powerful thing to be,
• 21:00
  Speaker 2: if I may paraphrase paraphrase what you said, is to
• 21:03
  Speaker 2: be the advocate for the customer and the prospect so
• 21:06
  Speaker 2: that it is a win a win relationship. And yeah,
• 21:09
  Speaker 2: there may be people in the company who say, well
• 21:12
  Speaker 2: it's not a really great win for us, Well, too bad.
• 21:15
  Speaker 2: You know, that's not my job. My job is to
• 21:18
  Speaker 2: advocate for the customer and the prospect. And I'm here
• 21:22
  Speaker 2: to keep us all on a path of success and
• 21:26
  Speaker 2: be able to lead to growth and We're only going
• 21:28
  Speaker 2: to do that by building trust in the community with
• 21:30
  Speaker 2: customers so very powerful, there is the win win, going
• 21:34
  Speaker 2: for that win win and constantly keeping that in mind. Okay,
• 21:37
  Speaker 2: what's number three?
• 21:38
  Speaker 4: So the number three and you kind of alluded to
• 21:41
  Speaker 4: significance and the.
• 21:47
  Speaker 3: Value that comes along with business development.
• 21:50
  Speaker 4: Now I found that the term value is a pretty
• 21:54
  Speaker 4: profound term.
• 21:56
  Speaker 3: We're all looking for value. Is there any way to
• 21:59
  Speaker 3: simplify the value?
• 22:01
  Speaker 4: So by now, and you notice that the thing as
• 22:05
  Speaker 4: an abbreviation, I'm trying to come up with yet another
• 22:09
  Speaker 4: abbreviation to simplify the concept of value. And what I'm
• 22:16
  Speaker 4: attempting to share is what I call wy W.
• 22:22
  Speaker 3: Is it worth your while? And I'll give you an example.
• 22:27
  Speaker 4: This morning, I was exactly on a long three hour
• 22:31
  Speaker 4: ride dropping down stuff to meet a partner, and I
• 22:34
  Speaker 4: was gonna call my CEO and trying to figure out
• 22:37
  Speaker 4: how to price a certain offer a certain SaaS product.
• 22:41
  Speaker 3: And we couldn't actually come up with a good value proposition.
• 22:48
  Speaker 4: Isn't that the you know, the pinnacle that the essential
• 22:51
  Speaker 4: job of the business developer is to put together the
• 22:53
  Speaker 4: value proposition? All honesty, we couldn't crack the nut so
• 22:59
  Speaker 4: we tried to simplify it and ask ourselves what would
• 23:03
  Speaker 4: be worth our customers while, And sure enough we came
• 23:10
  Speaker 4: up with it's not only going to be a monthly subscription.
• 23:13
  Speaker 4: It's going to be a monthly subscription that comes along
• 23:16
  Speaker 4: with four hours of consultancy. And suddenly it makes sense
• 23:21
  Speaker 4: because we expect the customer to say, you know what,
• 23:25
  Speaker 4: it's going to be worth my while or worth your.
• 23:30
  Speaker 3: While, essentially saying that's value.
• 23:34
  Speaker 4: So the concept, the profound and essential concept of a
• 23:38
  Speaker 4: concept of value being maybe at times challenging to grasp.
• 23:43
  Speaker 4: I would therefore offer breaking it down, softening it up
• 23:46
  Speaker 4: a bit, and asking ourselves back to what you just said,
• 23:50
  Speaker 4: what would be worth dear customer, we want to do
• 23:54
  Speaker 4: what's going to be.
• 23:55
  Speaker 3: Worth your while?
• 23:58
  Speaker 4: And maybe by paraphrasing that, it makes the whole business conversation,
• 24:02
  Speaker 4: the whole value driven conversation, more palatable and hopefully worth
• 24:07
  Speaker 4: your while.
• 24:09
  Speaker 2: Yeah, I love that because it's a natural progression down
• 24:12
  Speaker 2: from the win win environment. And yes, you want it
• 24:16
  Speaker 2: to be a win win. Now, will it be a
• 24:20
  Speaker 2: great win for you as the company, probably not one
• 24:23
  Speaker 2: hundred percent. Will it be a great win for the customer,
• 24:26
  Speaker 2: probably not one hundred percent, But it gets down to
• 24:29
  Speaker 2: is it worth your while? Is it worth your while
• 24:31
  Speaker 2: as the corporation is it worth their while as the
• 24:35
  Speaker 2: customer to pay that amount and establish a sense of value?
• 24:39
  Speaker 2: And in the business development body of knowledge, again you
• 24:42
  Speaker 2: are a profound business development philosopher because you're thinking about
• 24:46
  Speaker 2: these fundamental elements that people always say. Well, everybody uses
• 24:49
  Speaker 2: the word value, they throw it around every day, value, value, value,
• 24:53
  Speaker 2: and you know, you ask people, Okay, what does that mean?
• 24:56
  Speaker 2: Uh well, I really don't know what it means. And
• 24:58
  Speaker 2: so in the business development body of none knowledge, we
• 25:00
  Speaker 2: characterize value. It's simply a measure of the trust that
• 25:04
  Speaker 2: you provide to a prospect, because you could provide value
• 25:07
  Speaker 2: for free, and so it's a quantitative measure of are
• 25:13
  Speaker 2: you how much purpose, empathy and truth are you providing
• 25:16
  Speaker 2: that prospect. Now, when it comes to pricing, pricing is
• 25:20
  Speaker 2: simply matching the price to the value that's provided. If
• 25:24
  Speaker 2: it's a lot of trust that's being provided, well it's
• 25:27
  Speaker 2: probably going to be a higher price, okay. If it's
• 25:30
  Speaker 2: lower trust item, it's probably going to be a cheaper
• 25:33
  Speaker 2: price okay. And so fundamentally this is what it comes
• 25:36
  Speaker 2: down to, purpose, empathy, and truth. Are we aligned on
• 25:39
  Speaker 2: purpose with the customer? Are they aligned with us? Do
• 25:42
  Speaker 2: they see us as a great fit for them? Are
• 25:44
  Speaker 2: we empathizing with them? Are we understanding? Oh, you know,
• 25:48
  Speaker 2: our product is about twenty percent of you know, it's
• 25:51
  Speaker 2: not quite a good fit. The other eighty percent is
• 25:53
  Speaker 2: right on. I mean, we've got this. They're going to
• 25:56
  Speaker 2: be loving the eighty percent, but we're just not they're
• 25:58
  Speaker 2: twenty percent. Okay, well, you're going to have to discount
• 26:00
  Speaker 2: a little bit, probably because you're about twenty percent short
• 26:04
  Speaker 2: on empathy. And then finally, the truth. Are you delivering
• 26:06
  Speaker 2: the truth and telling them, hey, this is the price?
• 26:11
  Speaker 2: And you know what, sometimes they may not like to
• 26:12
  Speaker 2: hear that, but you're telling them, if you want this
• 26:16
  Speaker 2: to succeed for you, mister or missus prospect, this is
• 26:19
  Speaker 2: the price. And that's the truth. I've got to tell you.
• 26:24
  Speaker 2: And so when you proceed in that type of environment
• 26:26
  Speaker 2: my experiences, you end up with what's in it for me?
• 26:30
  Speaker 2: You know what's in it for you? What's in it
• 26:32
  Speaker 2: for me? The fundamental negotiation. I love this, gaild I
• 26:37
  Speaker 2: could talk to you for hours. Let me summarize your
• 26:39
  Speaker 2: top three takeaways because they're just so fun they resonate
• 26:44
  Speaker 2: with me. And so tactic number one, the key takeaway
• 26:48
  Speaker 2: here is sing ah, let's sing. Let's sing our praises
• 26:52
  Speaker 2: as business developers, let's sing together with our customers. And
• 26:54
  Speaker 2: a big part of that is as significance. Then the
• 26:58
  Speaker 2: eye stands for innovation. Constantly be inevasioning about that common purpose,
• 27:02
  Speaker 2: that significance that you have in your community, and then
• 27:06
  Speaker 2: finally doing all of that so it creates corporate growth.
• 27:11
  Speaker 2: You know. The the official definition, according to the Business
• 27:13
  Speaker 2: Development Body of Knowledge for the role of business development,
• 27:18
  Speaker 2: business development is is defined as customer and community advocacy
• 27:23
  Speaker 2: that creates corporate growth. And so it's a double entendrera.
• 27:29
  Speaker 2: We advocate for the customers and so that they are successful,
• 27:32
  Speaker 2: but ultimately our mission is to make them so successful
• 27:35
  Speaker 2: that they advocate for us. They bring us referrals. Referrals
• 27:38
  Speaker 2: converted over fifty percent. Sometimes this is a beautiful thing.
• 27:42
  Speaker 2: This is the ultimate exponential growth factor is having customers
• 27:46
  Speaker 2: that sing for you. And then the second tactic is
• 27:52
  Speaker 2: win win. Focus on the win win. This is not
• 27:55
  Speaker 2: a sales transaction. This is business development we're offering value.
• 27:59
  Speaker 2: We're here to advocate for the prospect. We're here to
• 28:02
  Speaker 2: advocate for the customer within the corporation. And there are
• 28:05
  Speaker 2: some people in that corporation which who may not like
• 28:08
  Speaker 2: to hear what we have to tell them, but it's
• 28:10
  Speaker 2: the truth. We work for the customer, We work for
• 28:13
  Speaker 2: the prospect. Those others in the boardroom work for the shareholders.
• 28:18
  Speaker 2: And then finally, the number three tactical takeaway here is
• 28:23
  Speaker 2: what's in it for the customer and the prospect and
• 28:26
  Speaker 2: what's in it for you? Understanding the value statement that
• 28:30
  Speaker 2: value proposition so that they find it to be a
• 28:34
  Speaker 2: compelling price they pay to achieve their own success. Gild,
• 28:39
  Speaker 2: I think folks can take your top three tactics and
• 28:42
  Speaker 2: takeaways and achieve success with these fundamentals of business development.
• 28:48
  Speaker 2: And Folks, if you're in Israel, connect with Gilad and
• 28:53
  Speaker 2: join biz dev exec Club Gild, how can folks connect
• 28:56
  Speaker 2: with you, follow your work and most importantly join buses
• 29:00
  Speaker 2: to have exec club.
• 29:01
  Speaker 4: Absolutely so LinkedIn it is so either reach out to
• 29:05
  Speaker 4: me personally on LinkedIn or look up a business of
• 29:08
  Speaker 4: exec Club on LinkedIn. The community itself is a WhatsApp group,
• 29:13
  Speaker 4: so WhatsApp with its pros and cons, and I'm all
• 29:17
  Speaker 4: open about it, but the best way I would assume
• 29:20
  Speaker 4: for business developers to connect is absolutely over LinkedIn.
• 29:25
  Speaker 2: All right, well, folks, connect with Gilod on LinkedIn, connect
• 29:29
  Speaker 2: with the bisdev Exec Club as well. We'll have those
• 29:33
  Speaker 2: links in the show notes for you, so you can
• 29:35
  Speaker 2: just refer to those and join the organization and connect
• 29:40
  Speaker 2: with the BD philosopher himself, gild and a wonderful leader
• 29:45
  Speaker 2: within our community. So Geiloud, thank you for everything that
• 29:48
  Speaker 2: you do for the business development profession, bringing us all
• 29:52
  Speaker 2: together as brothers and sisters and business development to sing
• 29:56
  Speaker 2: as one united voice in peace.
• 29:59
  Speaker 3: Thanks, thank you, Thank you very much.
• 30:01
  Speaker 1: Tony, thank you for listening to the Business Development Podcast.
• 30:09
  Speaker 1: Join our free community of corporate partners and business development
• 30:13
  Speaker 1: professionals advancing the art, science, and ethics of the business
• 30:18
  Speaker 1: development profession at Gbdassociation dot org.