Professionals often cringe when they hear the term “business development” (BD). They either feel they don’t have the time to spare from their work, believe they lack the skills for BD, or simply dread the thought of engaging in small talk with strangers. These initial reactions, however, can set them up for failure, as it’s important to remember that thoughts, not feelings, drive our actions. Your mindset plays a crucial role in your success.
According to Amy Morin, a psychotherapist and bestselling author on mental strength, “Your thoughts are a catalyst for self-perpetuating cycles. What you think directly influences how you feel and how you behave, so if you think you’re a failure, you’ll feel like a failure. Then, you’ll act like a failure, which reinforces your belief that you must be a failure.”
But how does this relate to business development for professionals? If you approach BD with the mindset of lacking time or being anxious about the process, that’s precisely how it will feel when you approach a potential client, and success is unlikely. On the other hand, adopting an open or growth mindset can set you up for success.
Here are some ways to approach business development with a growth mindset:
1. Tell Yourself that Business Development Equals More Business: BD can lead to more clients, financial freedom, vacations, a fuller portfolio, or even a promotion. This is your “why,” the reason you became a lawyer/accountant/economic developer/etc. and continue to work tirelessly.
By shifting your mindset to see BD as a path to more, you replace the perception that it consumes non-billable time with an “open for business” perspective. Prospective clients and referral sources will notice this change in your attitude, making you more approachable and appealing.
Instead of dreading networking events, remind yourself that they could lead to more clients. Repeat this positive affirmation on the day of the event, and your improved attitude will yield better results.
2. Take a Positive Approach: Many people believe they’re only good at a specific area of their job, often claiming they don’t know how to do business development. However, if they meet contacts for lunch or drinks regularly, they are already engaging in BD.
BD is not rocket science; it’s about building relationships.
A mindset shift is needed: stop saying you don’t know how to do BD or that you’re not good at it. Instead, tell yourself:
- “I’m good at building relationships.”
- “I can strike up a conversation with anyone.”
Even if you don’t fully believe it yet, repeating these thoughts helps rewire your brain—a concept supported by neuroplasticity, the brain’s ability to adapt throughout life.
3. You Don’t Know Until You Try: For introverted professionals, the common excuse is “I’m not outgoing enough for business development.” However, there are numerous BD options beyond networking events, such as one-on-one lunches, video or phone calls, making connections on LinkedIn, or seeking introductions from your network.
The key is that you won’t know how effective you are at BD strategies until you try them. Claiming to be an introvert won’t help you gain more clients or achieve financial freedom.
Shifting your mindset to believe in your BD skills can open doors for you.
You can start implementing this exercise today. If you struggle with change, consider hiring a business development coach who can help you shift your perspective and guide you toward changing your beliefs and approach to prospective clients.
Change is not always easy, but it often leads to better outcomes. Now is the time to work on shifting your mindset and growing your business development efforts. If you’re looking for business development coaching or assistance, you can reach out to me at rebecca@LotusBizGrowth.com.