Mo asks Mike Duffy: When was the moment that you decided that business development was important and you needed to get great at it?
- Mike’s dad started in sales so he had a front row seat on making sales from the very beginning. He started his sales career by selling ad space in a travel magazine, and once he got out of college, Mike started selling ladies clothes in California.
- He took a $500,000 territory and in 18 months turned it into $2.5 million. He won salesman of the year at the age of 24 and ended up having a beer with his sales manager which led to a conversation that changed everything for him.
- Mike took a deep dive into discovering what really makes a good sales program and he became a student of sales for the rest of his career.
- Mike teaches lawyers business development now under the assumption that he has to sell the idea to his students. The goal is to help them understand that adding value to a relationship or closing a deal is sales by another name.
- If we want to live the life we want, we have to get great at growth.
- Start with the people you are going to call and how you can have a conversation that creates curiosity. That allows you to learn about what they need. Business development is about helping people.
- Business development habits set you apart when it comes to employment as well. It’s hard to ascertain someone’s technical expertise in a 30-minute interview, but it’s obvious when you care, listen intently, and make the conversation about the other person.
- You always have to be thinking about the long game. Some prospects may not turn into clients for years, so you need to focus on just moving the ball a little bit further each day.
- Be transparent, have humility, and be honest. Tell people when they are your #1 target and allow them to shape the relationship in a way that’s valuable for them.
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