By Carrie Steffen

If 2020 has taught us nothing else, it’s that Greek philosopher Heraclitus, who said the only constant is change, knew what he was talking about. So much of what we do in our day-to-day lives is different than it was six months ago. But when humans think about change, we often place it in the context of what has been lost. In times of change, we lose a sense of comfort and find it difficult to accurately predict outcomes. It is too easy to focus on what has been taken away.

For those of us responsible for developing new business for our firms, we now have new questions about how we do our jobs. Our ability to find opportunities has been reliant on developing and nurturing relationships – whether with existing clients, prospects, or referral sources. Our inclination is to focus on the fact that we’ve lost the ability to meet for lunch or coffee. There are no opportunities for in-person networking. At the same time, the pressure continues for us to meet revenue goals and help the firm meet its cash flow needs. We can’t wait (or afford) for things to “go back to normal” to resume our growth activity.

Relationships Continue

Many things may be on hold, but relationship development is not one of them. Even with social distancing restrictions there are ways to build relationship and find new business. The key is to focus on what you can do instead of what you can’t do. Concentrate on these five areas:

Lean into client relationships – Your firm will count on relationships with its best clients to bring stability to the practice, while your firm’s best clients need you now more than ever. Business developers can play a key role in championing client check-in meetings via online tools such as Zoom. Decide who is checking in with which clients, how often, what questions are being asked, and what opportunities may be uncovered as a result. Practitioners aren’t always comfortable with client meetings not connected to a specific project or engagement. If needed, coach them on how it should go. Offer to sit in on meetings with clients where this may be a new kind of conversation. Be sure there is a process to track what you are learning and circle back to offer to help however you can.

Do check-in meetings with key prospects and referral sources – Just like clients, schedule check-in meetings with key prospects and referral sources. These meetings aren’t necessarily to discuss specific opportunities, but rather they’re about nurturing relationships by demonstrating you care about the other person’s well-being. Ask about their family’s health, how they are doing sheltering in place, how they are feeling about returning to an office. Be prepared for them to vent. If they are feeling isolated, worried, or even depressed about their circumstances, you may find you become an outlet for them to express those things. Listen and empathize. Make plans to check in regularly. You may even consider organizing a virtual “networking” events with some of your key contacts. Have an activity ready, like trivia, to get people to engage. Or do a virtual lunch!

Keep moving forward with business – Tread lightly here. You have to be aware of how your contacts seem to be reacting during your check-in conversations. If your prospects and referral sources seem to be doing well emotionally, it’s OK to ask them about their plans related to the opportunities you have been discussing. Don’t wait for business as usual to ask about working together or assume they don’t want to talk about it. Discuss any adjustments that may need to be made to previous opportunities based on current circumstances. Emphasize your firm’s ability to deliver remotely. In addition, the CARES Act, Paycheck Protection Program loans, and the current economic environment have created many short-term needs. If their current accounting provider has not been attentive or proactive in communicating, there may be a window for you.

Use technology – People have become much more comfortable with videoconference technologies such as Zoom, Microsoft Teams, and Go-to-Meeting. With limited opportunities to interact in-person, these tools are a critical part of continuing communication. The effectiveness of email marketing has also improved as it has become a primary way to share important information quickly. Work with your marketing team and make sure your prospects and referral sources are on your firm’s email distribution lists. Follow up as those emails go out, and schedule video calls with interested parties to discuss key ideas.

Sell strategically – With many firms tightening their belts, it’s more important than ever to direct sales efforts toward finding profitable opportunities. Revisit your firm’s definition of an “A” client. Make a list of 10 prospects that match the profile. Get to work researching those companies. Who are the decision makers? What does their supply chain look like? Who do they bank with? You can find this information on their website, using LinkedIn, by asking people in your professional network if they know anyone on the list, asking partners in your firm if they know anyone, and so on. Gather as much information as you can for each one. As you begin to get a clear picture of each prospect, start connecting on LinkedIn with those prospects (making sure you have a compelling “here’s why we should connect, message”) and begin the relationship development process. Work with your marketing team to deliver relevant content to each prospect regularly.

Refocus, Reimagine, and Reciprocate

While much business development work has changed, one thing has not: relationships matter. Just because you can’t meet in-person doesn’t mean you can’t nurture your most important professional relationships. The time is now to refocus your efforts on the right opportunities and keep the process moving. Reimagine networking by creating your own virtual events. Be intentional about reciprocating and what you are giving in the relationship, even if that means simply listening. You may even find that taking care of your professional relationships is good for your own mindset and wellbeing, too.

Carrie Steffen is cofounder and president at The Whetstone Group in Cedar Rapids, Iowa. She can be reached at carrie@thewhetstonegroup.com.

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