Can You Say $100,000 Per Year?
9:02 AM
Dear Entrepreneur:
I’ve been involved in a unique business for more than 20 years. Hardly anyone knows this business even exists. I’ve made more than $100,000 per year more than a dozen times. You’re probably thinking “That’s great Marc. But what about in this stupid economy”?
It’s real simple….
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There has never been better time make money by providing this service. Granted, you probably won’t make $100k right out of the gate. But you could make a nice income offering this service.
This week I’ll focus on the Internet side of this business. You’re not limited to the Internet or eBusinesses…but that’s my focus this week.
What I’m referring to is business development.
Now get this……
If you can spot opportunities, work with people, write proposals, close deals or generate “buzz” and traffic to a website….you’re in! If you think that’s great, then you’ll love this…
Unlike most entrepreneurs, I dislike traveling these days. I’ve made enough money and slashed my expenses so I can usually bypass hotels, restaurant food, airport delays, and other fiascos. In fact, working on the Internet enables me to live where I want and do business on my terms…..without the headaches of being “on the road”.
I’ll leave “business traveling” for someone else. If you enjoy traveling, then even more opportunities will be available to you in this business. Okay….here’s the deal.
I’m not talking about business development the way most MBAs approach it. Most of the MBAs I’ve met, hired, retained or worked with couldn’t sell themselves out of a wet paper bag! I’m serious. If you have an MBA that’s wonderful…but my advice would be to start or run a profitable business before investing in an MBA education. However, that’s another story for another time.
Being able to sell a vision, a concept, or an idea are prerequisites to successful business development.
What the Heck is Business Development?
Business development is the process of finding legitimate partnership opportunities, and developing agreements which enable two or more parties to make money or profit. It’s that simple. I’ll show you how to find people who desperately need business development right now. On top of that, I’m also going to show you how to develop proposals and agreements which anyone can understand and, thereby, profit from.
I recently introduced two entrepreneurs who went on to build a multimillion-dollar business together. The relationship also gave me an opportunity to consult on other projects (including a new casino).
“Can I Make Money Doing This”?
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Business development has many facets and angles to it.
But here’s my definition:
Business development is the process whereby you identify and develop relationships which would likely enhance the profitability of two or more companies.
A business development specialist identifies companies and opportunities and then develops proposals which clearly describe how both companies would profit by joining forces or by working together on a project. The most successful business development specialists typically develop proposals so all of the parties involved are satisfied with the objectives, terms, and conditions of the agreement.
Look…..I know this sounds hard to do or “sticky” as some of clients would say.
But in reality…the most successful business development specialists I know do what comes naturally to them. In other words, it would be difficult to jump into million dollar real estate development deal if you’ve never been involved in real estate.
But, if you have specialized knowledge of Web development, e-commerce, direct marketing, sales, programming or thousands of other fields – chances are you would be good at business development in those areas.
Here’s a true story….
Recently, one of my clients developed an Internet search engine. He asked me to help “monetize” their database. “Monetize” is a popular business development term which simply means to find additional ways to make money with an existing product, brand, tool, or application.
In the course of developing ways to monetize my client’s search engine database, I discovered an opportunity they could exploit. In order to make this opportunity work my client’s company would have to partner with several large Internet traffic sites.
And so I focused on identifying and securing partnerships in this area for my client’s company. The project was very successful. The agreement I developed was easy to understand and implement. More important, the partnership was beneficial to all parties … and everyone made money! By the way, the agreement is still active as of this writing.
It took a business development guru (yours truly) to identify and help the companies involved capitalize on new opportunities and revenue streams.
How to Learn This Crazy Service
One of the best ways to learn the skills necessary for a business development is to mentor with someone who’s already doing it. If that’s not a realistic option for you, visit the top job sites (like Monster.com, HotJobs, CareerBuilder, and CraigsList) and read the descriptions and qualifications for business development specialists or managers. That will give you an idea of what’s involved.
Where to Find Business Development Clients
Checking out the major job sites is also a one way to learn about freelance business development opportunities. But rather than apply for one of the 9-to-5 jobs listed, you could contact the company with a proposal to work as an independent contractor or freelance business development specialist. I’ve secured dozens of projects with this strategy over the years.
Granted, most companies want a warm body in a cubicle or an office. So the freelance approach is not going to work every time. On top of that, most of SVPs I’ve met or worked with want people to serve “under” them. These “corporate” types are never thrilled with freelance Lone Rangers.
But don’t let that stop you! You’ll be amazed at how receptive companies will be to the idea of hiring a freelance business development guru.
If you contact enough “A Prospects” (companies already working or retaining freelance business development people), you will secure projects.
You can also post your availability on the major jobs sites and search engines too (with links to your business development bio). For example, on CraigsList.org recently there were 216 postings for business development help in San Francisco alone – and many of these were freelance opportunities!
A good way to keep abreast of companies that need business development help is to subscribe to news briefs like Google NewsAlert and Yahoo! News Alert.
You can customize the news alerts anyway you want. One criteria could be the phrase “ business development” or “expands business development”. Every time this phrase appears in a news story or press release you’ll receive it by email, SMS or RSS.
I’ve used Google NewsAlert (and several other services) as a prospecting tool for years. I also use direct marketing and FedEx to prospect for business development clients.
For example, I sent an easy-to-read introductory letter via FedEx to the founder of a technology firm. I presented examples and stories of business development in action. The CEO immediately sent me an e-mail. We talked, and I secured a lucrative contract with his company. My business development assignment was to improve the company’s direct marketing efforts and sales letters!
You’ll never have a shortage of “A Prospects” when it comes to business development clients.
A Little-Known Key to Powerful Proposals
Back in the 70’s I sold new Buicks at a swanky dealership in Minneapolis. When I started selling cars I was a young, cocky entrepreneur. I thought selling cars would be easy. But I soon realized selling cars is hard work.
I remained at the bottom of the sales team until I stole a technique used by a million dollar car salesman.
I learned his “trick” by eavesdropping on his conversations with customers.
I watched in amazement as he closed deal after deal after deal. One month he sold more than 100 cars with a retail value of more than 1 million dollars.
Anyway, the “big man on campus” always asked his customers the same question:
“What can I do to make this work for you today?”
You’ve probably heard this line a thousand times. But believe me….this question works wonders. By understanding what you can do to make a deal work for the other person, you’ll know HOW create a POWERFUL business development proposal.
When you write a business development proposal just remember to include the exact words the other party used to describe what it would take to “make it work” for him or her. Listen….this isn’t a fancy sales trick to get somebody to do something they don’t want to do.
Most entrepreneurs and business development specialists could care less about what the other person wants. In my experience, most people are concerned about what they want!
But if business development proposals are written from the other person’s perspective then deals RARELY come undone. Proposals developed with the other person’s hopes and desires in mind always stand the test of time.
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Your Humble Host,
Marc Charles
(Ed Note: Marc Charles is referred to as “The King of Business Opportunities” ….and for good reason. He should be known as “The King of Legitimate Business Opportunities”…because he’s launched, bought, sold reviewed and advised on hundreds of businesses and money making opportunities. He understands legitimate opportunities. Marc has agreed supply League of Power members with crucial updates regarding legitimate business and money making opportunities.)
***Action Strategy***
There are several ways to get started in this field.
Obviously, if you’re new to the concept of business development, you’ll need to bring yourself up to speed quickly. You can do this by scouring the top job sites and reading about what companies are looking for with regard to business development.
One of the best ways to learn business development is to hang out with people who are already doing it. If that means taking on a part-time job or freelance assignment … do it!
Once you know enough to be able to produce profitable results for your clients, you can start to going after higher paying assignments and projects.
The approach I’ve used hundreds of times when approaching prospective clients or business owners is a simple sales letter.
You’re not trying to secure a contract or project with your first sales letter or introduction. The objective of your first letter is to have the prospect take one small action, such as e-mailing or calling you, or to visit a website to get more information about what you can do for them.
When it comes to posting your bio on a website I’ve found a convincing overview of your background written in everyday language, will always produce a greater response than a conventional resume.
And remember….You can launch websites for almost nothing these days … and host them for free.
Another way to get business-development clients is to post your availability on places like CraigsList.org (which has hundreds of cities for you to choose from).
Your bio or website should be submitted to all of the major search engines. You can do this yourself or contract someone like Bruce Clay or Whiz Kid SEO.
What’s more, you’ll be amazed how many qualified business-development clients and prospects you can attract to your site with a few good keyword ads on Google, Yahoo!, or Bing.
Yet another great way to find qualified business-development clients is by subscribing to a news clipping service like BusinessWire, Google NewsAlert, or Yahoo! News.
Simply submit words and phrases relating to “business development” or “business development expansion” and they’ll send you every press release and news story with that phrase in it.
By reading press releases you’ll learn about what companies are doing, and then shoot them an e-mail if there’s a fit.
*******Valuable Resources ********
CraigsList.org (200+ cities, hundreds of opportunities)
Reach Hundreds of Qualified Prospects by Posting Your Availability Website Bio or Sales Letter on any of these Sites and Search Engines:
SmartHunt
Snail Mail Marketing Approach
Snail mail is NOT dead!
In fact, as millions of people flock to Google, Facebook, Twitter and PPC advertising….postal mail and FedEx has been virtually ignored. But as your prospective clients receive thousands of emails, promos and pitches online and via email each week….very few of them are receiving personalized FedEx letters!
By sending personalized introductions and sales letters via regular post or FedEx you will stand out from the crowd…that’s the objective!
Therefore, you could reach and close a boatload of sales in 2011 by using viable mailing lists of “A Prospect” clients.
You can research hundreds of viable mailing list companies and brokers on the Direct Marketing Association website here.
Recommended Reading:
“Get Clients Now” by C.J. Hayden
“Selling Your Services” by Robert Bly
“Book Yourself Solid” by Michael Port
