By Dorothy Potash

Part of the job for many CPAs in public practice is business development. And as business developers, we sometimes find ourselves in a game of Kick the Can. We often are told, “Now isn’t the best time, but we really want to work with you.” Or maybe, “After Q1, or perhaps next fiscal year.” Then, the potential client just keeps delaying the decision.

This gives us hope, but, if we are smart, we won’t spend a whole lot of time prioritizing this work; we should do just enough to make sure we are paying attention and keeping the lead warm. We check in periodically, try to find ways to add value, send articles, or invite them to firm events. Most importantly, if we hear or learn about something going on that may trigger a more demanding need, we are there to reach out and offer help or insight. If we are not so smart, though, we will spend too much time researching, prebuilding potential solutions, and expending a lot of energy on something that may never come to fruition.

Finding the right balance is essential.

Complex organizations and strategic targets require a serious effort. Understanding ever changing goals, priorities, mindsets, burdens, and benefits for the client takes a lot of time. Developing the right strategy also requires a lot of fact-finding meetings. Sometimes, the best way to build rapport is to share the questions your other clients are asking. Inquiring how your target plans to manage similar situations/fears/challenges and sharing how your other clients are approaching these issues could be helpful. You can’t offer full solutions when you are not close enough to see the entire picture, but supplying your targets with the questions they may need to ask themselves as an organization is valuable and potentially advances your discussions.

Such is life in business development, sometimes we are told “no.” Seasoned business developers have developed a thick skin that allows those words to just roll of their back. True rainmakers never really take a “no” to mean anything other than “not now.” “No” scares a lot of people. Hearing it, or just anticipating hearing it, triggers temporary paralysis for many, or worse, a decision to give up. For me, hearing “no,” especially when it’s early in the sales process, is sometimes a welcome sound. While that may sound counterintuitive, it can be a relief because now I can focus on those potential clients who are more likely to work with me rather than wasting time with someone who won’t.

The most painful experiences are those in which you invest a great deal: you established a fabulous rapport, you have been helpful in the past, you and your target worked out a mutually acceptable scope, fee structure, and approach for a very real engagement. You were told numerous times that it is really happening, only to have it pushed further and further back – even after you reserved space and resources and hours. Then, all of a sudden, you’re ghosted. You reach out a few times asking to reconvene to discuss the start date and the deliverables, and then boom! After all that time, all that investment, you get a “no” – a no without any explanation or apology. This can be debilitating.

Asking, “What could I have done differently, or done better, to improve the outcome” and trying to ascertain where we went wrong is always meaningful. It can improve how we approach similar situations or serve others in the future. It helps with our own evolution and success as business developers, client servers, and people. Examining and questioning how we handled something and identifying ways for improvement are necessary and profoundly important.

However, sometimes, there is just nothing more we could have done, or done differently. Companies get acquired, boards’ concerns shift focus, or markets demand new priorities. When things like these happen, being told “no” as soon as possible can be a blessing, but being told why is just as important.

Sometimes we need to know that we really did do everything right; that it is not “me” or “us,” but that we came up short because it truly was you. Occasionally, those with whom we want to work turn out to be jerks, or they are afraid to tell others no because they are people pleasers. Sometimes a “no” comes from above, but the person with whom you have been engaging doesn’t want to admit that it was not their decision, but someone else’s. Sometimes people think that they are just too busy to provide you with a complete or honest explanation. This is the worst kind of situation.

So, for those readers who hire strategic partners, consultants, other professionals, please remember that no matter how busy you may be, if others invested time in your relationship, in trying to serve your organization, treat them with respect – the same respect you would expect others to treat those in your organization. Tell them “no” as soon as you know it is a no, but also be honest and take five minutes to tell them why it is a no.

For those who lost out on a potential deal or a huge opportunity, the best thing you can do is to get right back on that horse. Take advantage of that heartbreaking no. In that moment, things will not get any worse, but they literally can only get better. Face your fears and start making calls to some folks you haven’t spoken to in a while; maybe reach out to someone new. There has never been a time in all the years that I have done business development that within those raw hours of a heartbreaking no that fate wasn’t turned around with a new and exciting opportunity. That is where the fun and the real excitement is. Turning things around.

Never be afraid of “No.” If it is an early no, it really is the second best answer, regardless of whether “it’s you” or “it’s me.”

Dorothy Potash is the president and co-founder of Development Dynamx in Radnor, Pa. She can be reached at dorothy@developmentdynamx.com.

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^{Statements of fact and opinion are the authors’ responsibility alone and do not imply an opinion on the part of the PICPA's officers or members. The information contained herein does not constitute accounting, legal, or professional advice. For actionable advice, you must engage or consult with a qualified professional.}