Mo asks Dennis Baltz: When did you realize that business development is something that would be interesting to you?
- Dennis’s interest in business development goes all the way back to his high school days in 1987, where he was trying to find people to participate in market studies. It was a tough gig and he had to stretch outside his comfort zone to get things done.
- Knowing that he had something of value to offer to the people gave him the confidence to ask for something they may not be initially open to. Dennis learned to be interested in the person first and think about the value he could provide, instead of assuming the ‘no’ right away.
- Dennis has been on all sides of the transaction when it comes to risk during his career, so that gives him some perspective on what potential buyers are looking for. Initial meetings are simply about identifying problems and how you can be helpful.
- Preparing for the meetings ahead of time is crucial to Dennis’s success. Following up usually involves finding resources or people to connect the prospect with that can help solve the problem in the meantime.
- Introducing techniques from another industry is a great way to appeal to a potential client’s desire for both safety and innovation.
- On the human side of things, Dennis realized that he needed to stay in front of clients at the beginning of the pandemic and that turned into a monthly blog post that he sends to clients and colleagues. Being open and vulnerable, and sharing some of the personal elements of his life, have had a tremendous impact.
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