Business development is key to a company’s survival and ultimate success. Every leader knows this – and spends a considerable amount of time analyzing the best way to do it.
Given that, you probably know by now that there are no quick fixes or guaranteed results. There are, however, some strategies that have proven enormously successful in my own experience – strategies that may seem counterintuitive and time consuming but have never failed me or our team of business development leaders across the U.S. In fact, in 2024, Dualboot Partners was named to the INC 5000 list of fastest growing companies in the U.S., with 283% growth over the previous three years.
I list that accomplishment not to brag about our success. Instead, I use it to illustrate the power of taking a wholly different approach to business development – one that emphasizes service, curiosity and intentionality at every step of the way.
Secret #1: Focus on Giving Rather Than Taking
Anyone who knows me knows that giving back is a vital part of who I am. And it’s not just about logging volunteer hours on weekends or serving on boards. It’s the way I live my life, and it translates to how I approach business development opportunities:
When I meet someone new, I focus on what I can do for them, rather than on what they could do for me.
It’s a simple strategy, but it comes with substantial benefits. Take this example from the other week: I recently met the CEO of a wholesaler with excess inventory on hand. Given the recent devastation in Western North Carolina, the wholesaler was looking for opportunities to donate this surplus to families in need. The CEO knew about my connections to the nonprofit world and reached out to me for help. I connected him to someone with an even bigger network than my own, and the wheels started turning. Now, three truck loads of supplies are heading to families in need across Western North Carolina.
But the impact doesn’t stop there: Because my name was mentioned on social media as part of this process, I’ve started to receive messages from others in the community – new connections that may lead to business opportunities now or in the future. I’ve played a small role in helping others, and my network has grown as a result.
That isn’t why I do it, of course. Philanthropy has been a core part of my life for as long as I can remember, and I never expect a return on my investment of time or resources. But connecting to others for the purposes of doing good creates deeper, more meaningful relationships. People remember me, not as the guy who tried to hard sell them software development services, but as someone who cares about others and supporting our community. And our connection is more likely to last as a result.
Secret #2: Be Curious (and Take Notes)
Successful business development is much more about listening than talking, and yet we tend to measure our efforts based on the latter, not the former. We ask, “What did you say?” “How did you represent our brand?” “How’s your elevator pitch?” In reality, though, business development is not about convincing someone to buy. It’s about building connection and trust over time.
So when I meet someone, I listen. I seek to understand their experiences and perspectives, and it changes the nature of our interaction. It is not transactional – what can we do for each other? – but relational. It allows those around us to feel like people, not prospects. In a world of transaction and disconnect, that is a rare gift.
Then – and this part is important – I take notes. I save a number into my phone and jot down what we discussed, how we’re connected, what interests we share. The next time we meet, I don’t want to mine the recesses of my brain for details of our last conversation. I want to build on what we started. It only takes a few minutes, and the impact can be profound. As Maya Angelou famously said, ”people will forget what you said, people will forget what you did, but people will never forget how you made them feel.”
Being remembered feels pretty good.
Secret #3: Slow. Down.
When you add a business development leader to your team, how long do you give them to start crushing their sales targets? One quarter? Two?
I understand the impulse. You’ve made the investment, and you’re ready to start seeing results. But in my experience, building the kinds of relationships that yield compelling, game-changing impact takes time. And while muscling someone into a deal may fulfill immediate goals, chances are, it won’t lead to the long-term relationships that allow one connection to multiply exponentially over time.
Here’s an example: 20+ years ago, I coached youth basketball at the YMCA, and I got to know the father of one of my players. In time, I learned he is one of the top neurosurgeons in the country. It was one of many things I learned about him that season, and I never forgot him. Fast forward to a few months ago, and a friend called with concerns about her parents and the potential for memory issues. I texted the father/neurosurgeon I knew from my past life, and he connected my friend to the right resources so she can get the support she needs. I remembered him, and he remembered me. The connection had stood the test of time, and the impact was powerful.
Now, companies can’t afford a 20-year return on investment, but we can be more patient. A good rule of thumb for a new business development hire? The first year, expect them to cover their salary. The second year, maybe they bring in their salary plus 50%. By year 3, the sky’s the limit. By that point, the foundation has been built, and the invisible work of building connections and nurturing relationships really starts to show.
Parting Thoughts
We live in a fast-paced world – one that tends to prioritize progress over connection – and these “secrets” don’t fit the new mold. They take patience and time, and they won’t deliver immediate results. Instead, this is the business development long game, and the benefits are exponentially more powerful – for your community and your business.
