How To Be Strategic With Your IT Hiring

June 18th, 2014 | Posted by Sarah Jones in Guest Blogs - (Comments Off)

NVTC is inviting members and industry leaders to serve as guest bloggers, sharing insights and information on trends or business issues relevant to other members. In the below post, Marc Berman of member company Vector Technical Resources shares strategic steps for managers when hiring an IT staff.


Hiring tech talent can be a serious challenge for many organizations. Depending upon where your company is located, you may be competing with shinier, flashier tech
companies that can offer massive salaries, on-site gym memberships, free daycare, and other perks. Conversely, you may be operating in a rural area where new IT talent is hard to come by.

The (somewhat) good news is that no matter where you are or what your organization does, you are not alone. The Technology Councils of North America conducted a survey in 2013 that found nearly 70% of participating executives believe there is a shortage of quality tech talent in the marketplace. They feel that “all the good ones are taken,” and it can be difficult to attract and hire the right people.

Making Strong IT Hiring Decisions

This climate can lead companies to make poor IT hiring decisions. Hiring managers may feel pressured to jump on the first candidate with the appropriate skill set. But even if an IT candidate’s skills match up with your needs, there are other things to consider before making an offer.

Here are some tips to help you make strategic IT hiring decisions:

  1. Documented Work – An IT candidate can claim certain skills and accomplishments, and it may be possible to glean their expertise from an interview, but it is important to get documentation of previous projects.
  2. Look for Broad Experience – Specialization can be beneficial for certain positions, but more often than not, your organization will depend upon IT pros with a broad knowledge base. When someone focuses narrowly on one specific skill, it can lead them to be less effective at solving large problems.
  3. Match Personality with Company Culture – Employees must be happy in order to do their jobs well, and if the culture of the organization isn’t a good fit, your new hire won’t feel comfortable or happy. For example, individuals with a laid-back attitude and work history in casual environments may feel stifled in a workplace with a more rigid corporate structure.  Be sure to take personality and your company culture into consideration before making an offer.
  4. Don’t Make a Panic Hire – Making a fast hiring decision out of sheer panic rarely turns out well. If the position is so critical that it must be filled immediately, it’s worth it to take a breath and move deliberately, because a bad hire will ultimately force you back into a desperate situation. Never hire for an IT position after one interview.  Always conduct a phone screen first. This can help narrow the field before you potentially waste your time and the candidate’s time on an in-person interview.
  5. Include the Team – If an IT professional will be reporting to three managers, include all three managers in the hiring process. It is important that everyone gets a sense of a candidate’s personality and work style, so that they can feel comfortable bringing that individual on board.

 

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NVTC is inviting members and industry leaders to serve as guest bloggers, sharing insights and information on trends or business issues relevant to other members. In his second post on the NVTC blog, Matt Rajput of CohnReznick shares his insights on new methods for valuing technology companies.

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As the IPO market continues to churn and with plenty of money on the sidelines, could it be that investors are changing their models for valuing a technology company?

In recent years, a company’s top line revenue and projected growth carried significant weight in attracting interest from investors as evidenced by valuation multiples of 5x, 10x, even 20x. However, we’ve recently seen that an increasing number of investors are taking a closer look at “marginal gross margins,” which is defined as a new dollar of revenue minus the cost of producing that revenue as the company grows.   Simply put, this measurement identifies the cost incurred in earning another dollar of revenue.

Calculating marginal gross margins has become a more popular method of calculating the value of a technology company because it is considered a cleaner look at operational efficiency, which is often challenging to measure in acquisitory companies that actively buy customers and market share to drive growth.  Some investors feel that buying customers and market share through acquisitions is not a favorable long term strategy for solid growth.  What happens when customers become more challenging to find and the next couple of deals fall through?

To me, it doesn’t make sense for investors to acquire a company that spends a dollar to earn a dollar in revenue, even if revenues increase by millions of dollars resulting in impressive top-line results.  A few months back, the $19B valuation of WhatsApp seemed outrageous to some, but when industry analysts began to dig deeper into the numbers, it came to light that WhatsApp had a very high operating gross margin. Coupled with its ability to grow as a cutting-edge technology, the sustaining membership revenue cash flow, and the sizable market cap, this valuation seems more reasonable.  WhatsApp passed the sticky test with flying colors!

Stickiness usually leads to higher gross margins.  The better that a technology company can become engaged with its current client base, the greater the opportunity for increasing gross margins and in turn the more positive an impact on the valuation of the company.  So, as an alternative strategy to building value, technology company decision-makers may want to think twice about buying that next customer or company and instead develop new and engaging products and services that contribute to the organic growth of their customer base.

If you’re a technology investor or a technology company decision maker, I’d be interested to hear your thoughts.

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Matt Rajput, CPA, is an Audit Manager with CohnReznick LLP and a member of the firm’s Technology Industry Practice. Working from the firm’s Tysons Corner office, Matt has eight+ years of experience servicing publicly-traded and closely-held companies in the technology sector and he routinely provides services to private equity and venture capital backed companies. Contact Matt at matt.rajput@cohnreznick.com.

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Considerations for a Cybersecure Network

June 8th, 2014 | Posted by Allison Gilmore in Guest Blogs - (Comments Off)

NVTC is inviting members and industry leaders to serve as guest bloggers, sharing insights and information on trends or business issues relevant to other members. In the below post, David Farmer of member company Environics Communications shares cybersecurity advice for companies and their CIOs. This blog was originally posted June 2, 2014, on the Environics Communications blog.

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According to CNN Money, half of American adults have been hacked this year.  That is a frightening statistic, especially since the year is not even half over.  Virtually every day a new cyberbreach is exposed, increasing risks associated with everything from conducting transactions in-person and online to ongoing national security efforts designed to protect Americans.

Last week at the Hub, Environics Communications sponsored a panel on which several cyberexperts shared valuable insights for CIOs to consider as they deploy their various networks.  The Hub is a networking organization that inspires ideas by connecting leaders in the technology communications industry with one another for business development, innovation and insights.  Cyberindustry expert Jason Gayl of Cyber Capital Partners moderated the panel.  Panelists included Chris Kauffman of Personam, Christopher Garcia of Calibre, Brett Wilson of Cyren and Kevin Jones of Thycotic.  Each company offers unique solutions to help organizations better protect their networks against cyberthreats.

One key take-away from the discussion is that companies need to properly prioritize their cybersecurity efforts in order to ensure adequate protection from cyberthreats.  Such prioritization must be done carefully after performance of a risk-based network assessment.  A prudent first step is to consider what is typical in your sector, and then determine how to do it better.  Since decisions made at this point will identify the required internal and external resources (and therefore budget allocation), it is imperative to make sure priorities are actionable and implementable.

Companies must also be sure to account for insider threat possibilities as they continue to be one of the largest opportunities for security breaches, whether intentional or accidental.  Insiders are integrated into an organization’s culture, and they know what the most valuable data is and where it is stored.  Therefore, insiders can cause more damage more rapidly than an external hacker.  Typically, malware does not identify insider threats, so CIOs should explore the growing field of insider-threat detection technology.  Since their job is to protect the network, CIOs must weigh the potential cost of stolen data against the potential HR liability stemming from insider threat detection.

CIOs sometimes have a thankless job.  When all is well, their effort is taken for granted.  The minute something goes wrong, CIOs become the center of attention.  Budget constraints are not an acceptable reason to fail to deliver the security required to protect an organization or business.  CEOs need to keep cybersecurity top of mind when it comes to considering the technology, resources, and budget CIOs need to deliver the security required.  Failing to employ the right cybersecurity tools and procedures has enormous implications to the long-term viability of an organization.

CEOs and their respective communications officers must be forthcoming when a cyberbreach occurs.  It is important to learn from recent examples where major corporations suffered breaches of their electronic payment systems and online shopping networks.  Being proactive in informing the public what a company does and does not know will earn favor from its customers.  Not sharing information about the breach instills a lack of trust among customers and can be detrimental to business and profits.  Communications officers must be ready to share information quickly, even if one does not have all the answers.  In such an instance, it is ok to let the public know when you expect to have more information.

One way to stay informed on the latest cybersecurity advancements is by attending industry events on the subject. Additionally, blogs published by some of the panelist companies mentioned above also offer some guidance: Cyren Security Blog and Thycotic Blog.

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David Farmer is with Environics Communications, a mid-sized, full-service marketing communications firm.  He has 25 years of corporate communications and marketing experience in the technology sector with a track record of producing results for domestic and international telecommunications, security, and information technology companies serving business, consumer and government clients.  He has broad experience in strategic planning, corporate communications, messaging, public relations, marketing, product management, mergers and acquisitions.  In addition, David is actively involved with NVTC. 

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NVTC is inviting members and industry leaders to serve as guest bloggers, sharing insights and information on trends or business issues relevant to other members. In the below post, Elizabeth Harr of member company Hinge explains how research is an essential element for tech firms in differentiating their brand.


Technology firms go to great lengths not to reinvent the wheel when developing new ideas. Staying on top of industry trends and tools keeps them from wasting time and money developing last year’s products or services. Tech firms live and die based on the quality of their research, of how in-tune they are with competitor’s capabilities. But even as technology providers differentiate their products and services, they often forget to differentiate themselves. And in the struggle to understand the competition lies the risk of blending in with the competition.

But if your firm is looking to grow, blending in is not the way to go. Our research shows a strong correlation between brand differentiation and growth. In fact, high growth firms are three times as likely to have a strong differentiator than firms with average growth.

So what makes a differentiator strong? Three things:

  1. It must be true. You can’t just make it up. Well, you could. But if you don’t practice what you preach—if you don’t deliver what you promise how you promise—you’re going to hurt your brand and your business.
  2. It must matter to your clients. More than just setting you apart, your differentiator must be important to your clients. You can boast having the best kickball team in the state, but if it’s not serving your clients’ interests, you can’t count on your differentiator gaining much traction.
  3. It must be supportable. So your differentiator is true and it matters to your customers, but you can’t prove it. That’s a problem. If it’s not quantifiable in some way, it can be difficult to communicate it to your clients. This is particularly tricky with “soft” differentiators like commitment to clients. A good rule of thumb is to avoid differentiators that everyone claims. Things like customers coming first or having the best team in the business are both hard to prove and everyone claims these. If everyone’s has (or at least claims) a particular focus, it can’t set you apart.

Discovering Your Differentiator

There are two ways to approach brand differentiation. You can uncover what you’re currently doing that sets you apart and play to that strength, or you can look for customer needs that are currently not addressed by the marketplace. Find out what your customers value and how you can rise to the occasion. Take a long hard look at the marketplace. Ask questions. Is there no one providing both of a couple of services that seem like a natural pairing? Is no one focused on a particular region, industry, or process?


Elizabeth Harr is a partner at Hinge, a marketing and branding firm for professional services. Elizabeth is an accomplished entrepreneur and experienced executive with a background in strategic planning, brand building, and communications. She is the coauthor of Inside the Buyer’s Brain, How Buyers Buy: Technology Services Edition and Online Marketing for Professional Services: Technology Services Edition.

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NVTC is inviting members and industry leaders to serve as guest bloggers, sharing insights and information on trends or business issues relevant to other members. In part three of her Engaging Your Total Enterprise Series, Board member Marta Wilson of Transformation Systems Inc. explains how a strategic plan can create impeccable decision-maker skills


How are you sure you’re moving forward in the right direction? Where’s the compass? Where’s the plan? One great misconception about strategic planning is that it sets in stone a course for the long haul. For those of us in the business of nimble, responsive strategic plans, the very idea seems linear, stale before it’s done—rote. I’m thinking of a word, and that word is “boring.”

Wordle: Strategic Plan

By contrast, a strategic plan can create impeccable decision makers. That’s because a successful plan puts everybody at work in the same place. In other words, a plan creates nexus. Everyone’s work is connected by common understandings. All the right people have all the right information to make all the best decisions that move everybody forward—one person, one decision at a time.

A strategic plan isn’t so much a piece of paper as a shift in mind. It moves responsibility for a company out of the hands of a few executives and into the hands—and heads—of everybody working the plan. For success, a strategic plan is a daily awareness. It’s simple. A strategic plan is what makes sure that the vessel leaves the hands of the manufacturer and is handed over to crew for passage to bolder destinations. Each person relies on his or her own power for many key decisions and knows when to turn to leadership for guidance with larger, collective changes.

A strategic plan is the best way—whether sailing is smooth or rough—for you to be involved in every decision without being in the way. The plan is a robust mechanism that keeps you from exerting a dampening influence on your teams. When you step out using a strategic plan you can count on unleashing the full power of your organization’s talent. Once a strategy is planned and in place, your only remaining challenge is stepping back, listening, and being humbled by the brilliance you find working for you.

How is this done? The well-crafted strategic plan isn’t complicated, although its development can take some time. The goal is clarity, and the process is energizing. What you have, in the end, is a shared understanding that becomes a familiar reference point. It’s used as a sure-fire way for each person to move forward independently without creating chaos or downward drag. This plan becomes the filter for sifting out meaning from all the noise among the rush of daily priorities.

A strategic plan doesn’t start on a blank sheet of paper. It builds on the organizational assessment that precedes it. Discoveries from the assessment are integral to how the business works and shares information—and also for the quality of information you have for keeping executive-level decisions in tune with what your people are doing. It also removes impediments to decision-making, because everybody knows the parameters for choices and the end goal that drives them.

Rapid response is possible no matter how large or far-flung your enterprise, and strategic planning is the key to rapid response, empowering everybody working ably within their spheres to be poised to make decisions quickly and in synch with everybody else.

All too often, though there is a plan, one no one takes it seriously as it sits in a three-ring notebook on an executive’s shelf. Having watched, over the years, the impact of a well-honed strategic plan on a business endeavor, I find it a shame that people slog to work to be part audience, part player in a poorly tuned, cacophonous symphony. It doesn’t matter if there is a skilled conductor— or executive—if there’s no sheet music from which to play. Just like an orchestra with its various instrumental sections, there are various subgroups within your enterprise. It’s natural for subsystems habitually to act independently and, all too often, at cross-purposes. But strategic plans are the integrating factor. They carry your leadership to the level of the individual instrument. They drill down into roles and responsibilities— and performance measures. Execution becomes smooth. There is little waste of effort and little reason for decision-making angst. Your team is finally working in unison, empowered to implement the daring decisions needed for triumph. Only with strategic planning can you get the musical score squared away so that you, as conductor, can restore order— enterprise integrity—among all the various parts of the ensemble.

A focus on the strategic plan typifies a skillful orchestral conductor who, amid the dynamic, ongoing flow of the music, can sense when the woodwinds are too soft, or the brass section too loud, and can guide the delicate adjustments that put the performance back into balance. When people in your group find themselves at that kind of nexus, there’s one way for you to be sure they can act with full ownership of the wellbeing of the organization: make sure they are fluent in the strategic plan and involved full force in the creative dialogue. Remember to keep everybody at the nexus: fully informed and informing decisions.

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NVTC is inviting members and industry leaders to serve as guest bloggers, sharing insights and information on trends or business issues relevant to other members. In part three of her Engaging Your Total Enterprise Series, Board member Marta Wilson of Transformation Systems Inc. shares ways to gain the best human capital management skills.


Managing human capital as a resource is like assembling a kind of jigsaw puzzle using talent for pieces and a strategic plan for the box top. If you want results, you need the best human capital management skills possible. You either have these skills or you hire expert skills. The experts either provide a short-term infusion or become embedded in your organization to uphold the human capital endeavor. No matter how well you manage human capital or how you choose to incorporate the process into your business, human capital strategy is doomed to be just one more plan— indeed, just one more empty ritual—unless it plays out in a vibrant cultural dialogue that motivates, inspires, and magnifies greatness in all your people.

As you devise a human capital strategy, you are aiming for the multipliers. You want to plan for the ineffable quality that gets you to a sum of five when you start with two and two. What is that? The best human capital management professional may have theories, but ultimately no one individual can provide that surprise extra, the multiplier. That’s because people magnify each other. As the Hawthorne Studies found in the early twentieth century, bonding among people has a magnifying effect on productivity and even a quotient of happiness. These days, the team may entirely co-locate in the same office or be connected across time zones and continents. It doesn’t matter whether people share projects or knowledge. What matters is that they share the dialogue and exchange the ideas. They thrive in the dynamic. People in a successful dynamic do more in ways that are leaner, faster, better, and smarter. That’s exactly what you need in today’s economic climate.

We all see shifting environmental drivers, tumultuous innovations, and advancing technologies that can undermine a stable and able workforce. Human capital, that underpinning of all the production in an Ideas Economy, is itself churning and unpredictable. Human capital risks can manifest themselves in different ways. One is the sheer lack of knowledge and leadership depth across the organization. Or, there can be a protracted and unclear development path for entry and journey level staff. There can be poor alignment of talent to priorities and strategic objectives. One of the greatest risks is when nobody is talking to each other about possibility, knowing, and change.

So, your first question when it comes to your talent mix must be, “Do I have enough of the right people in the right places performing the right work at the right time?” The immediate follow-up question must be, “Will I have that in five years?” My answer to either question is another question. “Who’s talking about what?” There’s one proven way to make sure the dialogue in your business isn’t idle chatter or bitter grievance motivated by boredom.  It’s collaboration. Of course, collaboration, while an art in itself, still relies on the baseline art of dialogue where business is concerned. In the end, whatever drives the conversations that magnify the potential greatness of your team is exactly what you want people to be discussing.

Steve Case, most widely known as co-founder of America Online and retired chairman of AOL Time Warner, spoke at an NVTC Titans Breakfast that I attended.  That morning, I was inspired when I heard him say that his focus is to “invest in people and ideas that can change the world.”  So the question for you remains: Are you prepared to be a dynamic partner? Are you ready to partner with your employees, your vendors, your investors, and your community? If so, that’s excellent! You’re setting yourself up to thrive in the future economic realities, which are upon us already.

Are you tentative about launching a human capital strategy initiative with so many priorities competing for your time and attention? If so, here are some questions for quiet contemplation:

  1. Is an effective performance management system in place and understood by all employees?
  2. Do employees have knowledge of the results their actions produce?
  3. Do we have a full complement of strategies to initiate, direct, and sustain desired individual and team behavior?
  4. Do we have enough of the right people in the right places performing the right work at the right time? Will we in five years?
  5. How many key people are likely to retire or leave in the next five years?
  6. What strategies will entice my best people to stay?
  7. Are we motivating staff with career paths?

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Building Relationships: Developing the Relationship

April 22nd, 2014 | Posted by Sarah Jones in Guest Blogs - (Comments Off)

NVTC is inviting members and industry leaders to serve as guest bloggers, sharing insights and information on trends or business issues relevant to other members. In the four of a five part series on “Building Relationships,” Matthew Falls of BusinessUSA shares his insights on maintaining relationships with customers.


You’ve done whatever follow-up resulted from your conversation and it’s time to make the follow up call, or set the meeting. Again, prepare: research beyond the web site, set the agenda and focus beforehand with your contact. This is very important – it moves the conversation forward, lays the stage for the expected action items and demonstrates respect for the other person in that you are prepared for the call and do not intend to waste their time.

Dig deeper – look behind what’s in front of you – talk to multiple people – find out the real story, not just what’s on the web site. Look for ways to bring more value to meetings. Think beyond the meeting to your ultimate goals for this relationship. Focus on the person that you’re speaking with, the action item and how you can help this person.

If you are focusing on the other person and their needs, you can be patient and let the conversation progress naturally. trustSharpen your customer conversation skills. Ask about their interests, what’s important to them. It’s very important to cultivate the human side of relationships to get beyond the standard speech.

You can find out what they are willing to do and capable of doing, by listening to throwaway comments or venting, especially those made in frustration, they exhibit true feelings not stated. Cultivating the human side of relationships develops the trust that makes your contact feel comfortable enough to reveal such information, indicating pain points that your solution can solve.

Your goal is to come away from this first call with points of pain. It’s important to be aware of where you are in the process versus where you want to be and figure out how to advance to next stage – bring in an idea that adds value to them. Each conversation should build on the previous conversation; if you are having the same conversation, they are not ready.

There may not be any apparent points of pain. That’s ok. Keep the conversation going with contacts by looking at them and their business as a whole and send them information, interesting items, bits of news. Become a resource to them. Over time they may introduce you to opportunities, or pain points may be revealed. Your relationships should also give you intelligence about upcoming opportunities.

If you are a federal contractor or sub-contractor, bringing business to the prime obviously will make them see you as a resource and an ideal teaming partner. With contracting trends indicating that 1 of 4 contracts are multiple award vehicles, teaming decisions are often made before the Statement of Work is issued, so developing and expanding teaming relationships become critical to the success of the company.

Many contracts result from being on a team. Not just any team though, the right team. You also want to make your company desirable to the right team. A strategic advisor focused on generating revenue can assess your company, help you determine your core competencies, develop strategies to get on the right team and negotiate a teaming agreement that brings value to all team members.

All of this great research and preparation won’t deliver results if you can’t deliver the message to the customer. Take the time to practice so that you will be more confident in the moment. Anticipate how the call will play out and do some role playing.

Use the seasons analogy to guide the building of your relationships – plant the seed – introduce yourself – nurture the relationship – become a resource to them, send information, make introductions, etc. – harvest the seeds – if you have nurtured the relationship, the harvest time becomes apparent – enjoy the fruits – take the time to enjoy your success – start to think about new opportunities.


Matthew Falls works for the federal initiative BusinessUSA, focusing on outreach to the state and local partners and the business community.  He collaborates with state and local economic development organizations to feature their program content on BusinessUSA and to introduce BusinessUSA as a resource to small businesses. 

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NVTC is inviting members and industry leaders to serve as guest bloggers, sharing insights and information on trends or business issues relevant to other members. In the third of a five part series on “Building Relationships,” Matthew Falls of BusinessUSA shares his insights on utilizing your research to connect with potential customers.


You’ve identified the companies, agencies and program offices that are most likely to use your product or service. You have read their most recent press releases and blog entries. You also know the names of the leadership team, program managers and contracting officers for those programs. You’ve connected with them on social media networks. You also know those companies most likely to fit with your core competencies.

If you don’t know this information, you probably have not done enough research and it is best to find out this information. It will provide the basis for starting your matthewseries3relationship with a company, program office, or a prime contractor.

There’s an event next week. Perhaps it’s an Industry Day, a program office is giving a seminar, there’s a networking event sponsored by a trade association or economic development agency, or perhaps you’ve identified a key contact and you want to set up a meeting. Maybe you are attending a trade show or industry event.

Do some research. Who is sponsoring? What programs or panel discussions are being offered? Can you contribute? Call the organization and ask how you can help with the event. Your research on the organization can tell you what programs they like to offer, what its membership does. Think about putting on a program for them in the future. This will better connect you to the organization and they will see you as a resource. Becoming a resource to them gives the organization the confidence to introduce you to an opportunity.

Focus on your goals for this event. Do you want leads, an introduction to someone, or just to build your brand? You’re not going to close a sale, so relax. You can take the time to nurture a relationship. Set performance metrics, i.e., I expect to have x substantial conversations that lead to an opportunity, I expect to collect x business cards, etc. Setting metrics allows you to objectively evaluate your performance and the usefulness of the event. Evaluating each event provides the information needed to make the most of your time, to focus on those events and organizations that provide the most value for you.

The SWOT analysis you did earlier has given you the information and strategic focus needed to craft a statement about your organization, what it does best and why the listener should care. People will want to know what you or your organization does and you need to have a clear vision that ties into your goals for this event.

When you meet that first person, pay attention to them. Look them in the eye, shake hands firmly and show an interest in their business card and what their position is in the organization. Figure out what concerns the person you’re speaking with; have a genuine interest in what they are doing. Ask about recent press releases, new initiatives they may be engaged in, talk about what they hope to get out of this event.

Make the focus on them. Don’t forget the human element of relationships. It is very important to understand what is possible and what the person that you are speaking with is capable of doing; if not, you’re wasting your time. The more you focus on the other person, the faster you will have the information to make a determination about this person.

The other person will ask about your business. Because you spent the time focusing on the other person in this conversation, you now have the information needed to craft your response around how your company’s product or service can be a benefit to the company. Talk about next steps. Leave the conversation with an action item. Write it on the back of their business card when you get a chance. Tell them that you will respond to them the next day.

If you get so lucky as to uncover a potential need and opportunity, try to learn who will influence the solution and the decision-making process. People connect to their colleagues on LinkedIn and some of them will be influential in the requirements development and selection process. Visit each of those buying influence’s LinkedIn profiles and pay close attention to whether they are linked to any of your competitors. If so, then that’s a red flag.

Sometimes there really is no connection to the person; you cannot provide what they need. Ask for a referral, do they know anyone who has a need for your product or service? If so, ask for a specific email introduction to their contact referencing the point of interest as an action item for this conversation. Write the contact’s name and point of interest on the back of the business card.

The event is over and you have a handful of business cards. Hopefully you wrote the action items on the back of the cards. Review the event. How did you perform against your goals? Be objective about the event. Perhaps you didn’t get many cards because you didn’t do the research versus the event not being a good fit for you. Maybe you didn’t get enough cards because you took too much time with a person. That’s good if it leads to a concrete opportunity, or a substantial conversation that moves the relationship forward. Keeping performance metrics allows to objectively evaluate the event, your preparation and your pitch.

Add the cards, points of interest and action items into your contact database and assign tasks for follow up. Always follow up when you say you will. It goes to your credibility, reliability and reputation for being able to deliver. These are some of the most important aspects in a good relationship and to gain the confidence of people who might be able to help you in the future.

At this point you have a few people who are connected to the opportunities that you’ve highlighted in your SWOT analysis. It’s time to cultivate these relationships, bring value to your contacts, assuring that they see you and your company as a valuable resource in their network.

Perhaps you don’t have a business development staff to make these contacts or your company is not located in Washington, DC if you sell to the federal government. Maybe you want to penetrate a different industry sector, line of business or another agency to win larger chunks of business.

Consider forming an advisory board comprised of very high-profile individuals who will open doors and act as advocates for your company. A properly constructed advisory board, whose sole purpose is to drive revenue, can turbo-charge your business development and harvest the value in your company.


Matthew Falls works for the federal initiative BusinessUSA, focusing on outreach to the state and local partners and the business community.  He collaborates with state and local economic development organizations to feature their program content on BusinessUSA and to introduce BusinessUSA as a resource to small businesses. 

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