Business Development, Like a Boss!
In my late twenties I tried my hand at building a Mary Kay empire. And while I never found myself behind the steering wheel of a pink Cadillac, I learned a lot of valuable lessons from the experience. One of them, holding myself accountable to complete essential business development actions. The other, honing my skills building out core operational processes.
During my time as a skin care consultant, I learned how to apply a popular industry method to set goals around my targeted core business development actions and more importantly, how to track my progress. The method helped me stay on course in regards to actions that were key to the growth of my Mary Kay business such as the number of parties booked, weekly sales and face-to-face interactions.
From an operational standpoint, I got to exercise my strategic muscle through a lot of if-then thinking. For example, if I talked to a prospect that agreed to host a party, then what kind of process would I need in place to secure the booking, i.e. calendar tool, date confirmation email, hostess information, etc.
Here’s how my experience in direct sales supports the entrepreneurial boss that I am today, and how it can help you too.
Checklists Give Me Life!
When you’re feeling a bit overwhelmed, does a checklist help bring about a sense of order?
Then you’re going to love everything about implementing the BOSS Code method!
Similar to the method I mentioned above, I now use what I call my BOSS Code to systematically track my business development. And it most definitely helps me keep my ass in gear when I’m not necessarily feeling very motivated to take action in my business.
Want to know what my BOSS Code is?
So at this point, you might be wondering, ‘what the heck does 59213 even mean?’ Let me break it down for you - each number represents a core business development action that I track on a weekly basis. Below is my core list:
Tiny Marketing Actions
Tiny Marketing Actions
Completing daily TMAs (Tiny Marketing Actions) is a concept created and taught by my mentor and badass business guru, Pamela Slim in her Giant Client Magnet program. Most of my TMA’s are focused around creating content to share with my audiences on Instagram and LinkedIn.
My BOSS Code digit for TMAs is 5 per week (hint, hint that’s only one per day!) It’s a reasonable goal with fruitful benefits - because I’m planting seeds for the harvest, every single day.
Through my operational lens I’m always looking ahead to forecast that if my marketing message resonates with my audience, then do I have an efficient intake process in place to handle the inquiries I’m expecting.
Even though I’m a speaker and the founder of a networking community, I’m a textbook introvert. As an introverted leader, I know that authentic, relational networking is critical to the growth and sustainability of my business. And while I do venture out from behind my Mac to network in person, I greatly leverage virtual networking.
Each week I host informal, non-pitchy virtual chats with other entrepreneurial women to get to know them better and to learn more about how I can support them in the marketplace. I send out the invites and my guests are able to self-schedule times that work best for them to chat. I love the dialogue and we always have such a great time together.
My BOSS Code digit for networking is 9, which represents connecting with at least 9 other entrepreneurs per week. And with the virtual chats I host, I’m able to hit those numbers each week.
The core operational aspect of this process is the strategic follow up. Before I ever invited my first guest to a virtual chat I thought about if they accept / don’t accept my invite, then what does my follow up look like in both of those scenarios.
Not a fan of sales? Then you might want to check the pulse of your business – because sales is what sustains it. As a result of strategic networking, I usually generate a healthy amount of interest around the work I do. And when this happens, I follow the process I have in place to get them scheduled for a sales call.
My BOSS Code digit for sales calls is 2 per week. Again, a very reasonable goal and one that keeps me in the practice of asking for the business I want. My closing record isn’t perfect, but I’m consistent in having the conversations. My dear friend and sales goddess, Dr. Nadia Brown shares this sage wisdom about sales calls - consistency trumps perfection.
My main operational focus with sales is always, how can I make it as easy as possible for people to do business with me. If a client says YES to an offer, then what is the most seamless process I need in place in order to on-board them.
Since a lot of the work I do is project based, entering into new contracts on a regular basis is a must for my bottom line. Although these short-term commitments are the norm, I pride myself in the on-going relationship nurturing that is baked into the culture of my company.
My BOSS Code digit for new contracts is, 1 per week.
What’s at the top of my operational priority list when it comes to contracts? Risk mitigation. If a new client signs a contract with me, then I want to be confident that I’m protected as I enter into the relationship. Contracts are the heart of how a business mitigates risk and one of my business besties, a kick-ass business attorney, Lauren Morgan, ESQ offers an amazing contract resource - thelegalknow.co that is a must have for every business owner.
While revenue is connected with sales calls, it most definitely is not the same. So while I schedule sales calls on a pretty consistent basis, I don’t always walk away with revenue. Oh, but when I do close a sale, you best believe that me and my business besties celebrate! Why? Because why not?! There is no client relationship that I’m not grateful for, and growth is always something to cheer.
My BOSS Code digit for revenue is 3, which represents $3,000 in revenue each week.
My operational focus here is around giving the revenue that comes in an assignment. If revenue comes in, then what do I want it to do within my business. My colleague Connie says, “Profit isn’t accidental. It’s planned.” If you didn’t already know this, you have permission to tell your money what to do.
So What’s Your Boss Code?
Above, I outlined what my weekly BOSS Code of 59213 looks like in action.
However, your BOSS Code is all about the key business development actions that you want to track in your own business - so they may be very similar to mine, or they may be completely different. And that’s the beauty of it, the BOSS Code method is all about you and the sustainability and growth plan for your business!
When identifying your BOSS Code, consider the core business development actions that will help take you to your next level - you need to start tracking these today.
If you want a way to track these actions, I’ve created a FREE BOSS Code template for you to download, print and start using today! And don’t worry, it doesn’t have my specific development actions listed - the template is completely customizable to you!
I want to help you to track what is most important to you. Although I do recommend revenue being one of the five, because as Dr. Nadia often says, “no sales = no business.”
Get your FREE download of the BOSS Code template today!