Course:  How to Build a Business Development Consultancy - Module 4

"Other than simply helping people to create an income flow that adds to their business or becomes their business, I wanted to open the door to collaborative opportunities with my company and other business developers. That's how we get big, impactful things done.  So, here we are, at a new beginning and opportuniy.  Welcome to the Business Development Consultancy course."  

This page includes Module 4 for the Business Development Consultancy course.  There are 5 modules with 3 segments each that include video tutorials along with the script in text form and some other resources here and there.  When you are complete with each module, you'll find a button to click to access the next module at the bottom of the page. And, if you get stuck or have a question, all that you need to do is to click here for contact.

Module 4 - Segment 1 below is "Attach Your Why to Something Meaningful."

Script and Resources: Attach Your “Why” to Something Meaningful

This module is about helping you to set up your business development consultancy.  I’m not assuming that you already have anything set because I don’t want you to miss something that you could use even if you do.

In this video, we’re specifically going to focus on attaching your “why” (or your base reason for connecting people) to something that is external to your own interests.  What I mean by that is when you fix your reason for doing anything on something that has a specific and measurable meaning that is bigger than your own personal gain, you become more motivated and inspired.  The reward is mutual benefit, greater joy, and even impact.

What you’ll learn in this video is:

    • To connect your professional goals to a purpose
    • Connect the purpose to an external focus
    • How to put a measurement to the focus

And, when you are complete with this video, you will:

    • Know your purpose or “why”
    • Be able to apply the purpose to your business development work
    • Be able to measure your reach with the purpose

First, let’s start with a review of your professional goals from Module 3.  Remember that you started with what’s personally relevant to you and then connected that to your professional interests creating a statement that reflected your mission as if it were currently realized.

With that statement in mind, let’s explore a few keywords that resonate with you based on your statement.  These words are meant to reflect an external or “big picture” element.

    • Global (How important is it that you reach around the planet?)
    • Diversity (How important is it that you have a richly diverse business development community?)
    • Space specific (Are you already heavily involved in a particular space like health, education, or economic development) where focus would be key?)
    • Innovation (Do you lean toward innovative solutions?)

You may think of another one or two, yourself, but, the point is that you land on that one key factor that is external to you which creates the understanding that your business development consultancy is a seriously important endeavor - significant and impactful.

And measurable.

So, how do you measure your “why?”  I can share a bit about how I measure mine.  My “why” has to do with peacebuilding.  I feel as though every new contact I make with someone is an act of peacebuilding with each connection a “bridge” of peace.  I’m aware that some people in small countries may not ever get to meet someone from my country beyond me, and I feel I must do a good job of representation.  I also feel that friendships around the planet cannot be taken for granted.  It’s important and creates impact.  Because reaching globally is important to me, I measure this in terms of new connections and new countries right on my own website.  There’s a digital counter on my site that is updated each time I interview someone new.  I keep a personal log of the countries and even aim for people from new countries to coincide with my focus on peacebuilding.  It’s not only important to me personally to do so, but the numbers are data that can be incorporated into my business marketing.

This all meshes beautifully within my business development scope of work and enhances everything I do.  (Please see the Resource Sheet in this segment with professionals I know and their “Why.”) 

How could you measure your own “why?”  Ideas below:

    • If you utilize a mailing list platform that allows you to apply keywords or tags to the new contacts, you can apply tags that make sense for tracking and measuring.
    • Make a digital list or “pin” a map of all of the key cities in a continent so that you have a target for purposeful connecting and tracking.
    • Create an impact chart where business development is making an impact in a particular region.  Use “people” statistics rather than dollars.  (Example: medical devices sold in SubSaharan Africa that will save 500 people from infections during surgeries)

I’m sure if you thought about it, you’d come up with a means of measuring that will work just for you. It doesn’t have to be overly complicated.  It’s really important to know beyond the dollars what good your work is doing in the world.  Keeping track is just smart business, as well.  It’s your credibility at work.

Let’s review:

    • Review your professional goals (from Module 3)
    • Determine keywords that help you to attach your goals to an external “big picture” focus - that’s your “why”
    • Find a way to measure your “why”

Resource Sheet: Attach Your “Why” to Something Meaningful

The “why” people have for what they do is so important to me in my business development work that it is the first question I ask when interviewing new people.  It gives me an instant snapshot of what drives this person in their work.  That’s great intelligence to have when you are looking to connect people.

Below are some examples from my Frontrunners Community of their purpose or “why:”

    • Angela is a champion in healthcare because, as an African woman, she has seen many who don’t have a voice or don’t feel their concerns are heard.  So, she started an organization to help refugees in Ireland getting them represented with their health concerns and today works on women’s maternal health solutions in Nigeria.
    • Ehsan is an innovator of an eye scan that can detect preventable blindness because he grew up with a father who was blind but it could have been prevented.  It’s important to him that accessibility be a key factor in the further development of his innovation because the reason many don’t get screenings is because of distance and the cost of the care.

    • Jill is an author and philanthropist who runs a multitude of programs for children and families in poverty in the poorest region of India. She grew up in the slums of India having to rely on others for handouts and watching her baby siblings die from disease and malnutrition.

    • Ghazala has spent time as a refugee in another country when her own country wasn’t a safe place for her and her family to live.  She spent years having to “pay the price” for just being a woman.  Today, she coaches, writes, and teaches on women’s empowerment as a Federation of International Gender and Human Rights Ambassador.

    • Rollan’s strong business intelligence took him to the top seat at one of the most popular US corporations at one point in his career.  From there, he started his own private college and nonprofit to help improve education and support growth in African countries - every bit of it based on his Christian faith and what he calls “Kingdom Business.”

    • Dean has spent most of his life protecting others - serving in UK’s military, then in the protection of embassies and private security.  He shares concerns in his own book about using violence to get out of conflict and how other nonviolent measures should be utilized first.  He raises money to fight human trafficking and works on projects to alleviate the concerns around safety in marginalized countries.  Protection and human rights are where his heart and his “why” lives.

    • Dick spent years as a diplomat seeing the best and worst the world has to offer.  His concerns about the planet and the many challenges faced by populations and places pushed him to utilize his professional skills as an architect to devise a solution.  Along with his partner, they bring smart villages to life in a way that no one else has conceived.  A realization of his particular skillset along with his unusual diplomatic experiences put Dick in a place of understanding that he must use both to open the right doors and create solutions.  Like a calling -  it’s a big “why.”

    • Lumbie’s father passed away in an African village leaving her the unfinished legacy of what she thought was securing some hospital beds for a remote clinic.  When she visited the place, they told her what they needed was water and they were quite adamant about that.  So, she worked until she found a way to get them access to clean water.  She is now the awarded Founder and CEO of a water-relief nonprofit based in the US.

    • Aaron works in a US-based high school in administration.  He is also an author and an innovator with a workforce readiness platform.  Aaron’s "why” is attached to his interest in bringing innovation into the education space believing that creative solutions are needed to open doors globally for better opportunities for students.

      It’s clear that these people have significant experiences that point them toward their “why,” but it doesn’t have to be that you’ve had a moment in your life that shook you up or an experience that pointed the way.  It could be a strong feeling you have about an issue or external concern.  If your “why” has yet to surface in a way that you can recognize it; just have faith that it is there.  Once you know it, your job is to bring it totally into the overall picture of your business.  Alignment is magic.

Course Author: Mary Kurek, President, Frontrunners Development, Inc.



To email the author:

Copyright 2022 © Mary Kurek

Next video is about business development tasks familiarization.

Module 4 - Segment 2:  Business Development Tasks Familiarization

Script and Resources: Business Development Tasks Familiarization

This video is all about familiarizing yourself with the tasks associated with your business development consultancy.  What we are aiming for with this video is to focus on the operations part of your consultancy.  At this point, your mindset and network should be on target, you’ve started building your attraction vehicle, your professional goals are set, and an external “why” is in place that keeps you and your business impactful.  So, let’s move into the nuts and bolts of business development.

In this video, you’ll learn:

    • 3 key elements to creating a successful business development consultancy
    • To develop your best business development skill
    • What to outsource to advance your consultancy

After this video, you will be able to:

    • Activate key features of your business development consultancy that fits with your own model
    • Hone your craft at sourcing for clients
    • Develop your outsourcing plan

The 3 key elements to creating a successful business development consultancy are:

  1. High-level sourcing consistency
  2. Scheduling management  (Time to source, time to interview,   time to process)
  3. Business Development Partners

Your ability to consistently source high-level types to add to your network even before you need them is critical because having those relationships before you need them creates serious value for clients.  Twice inside of 2 weeks, I was discovered and contacted by people wanting to make use of my skills because of interviews I’ve done with specific people.  As the person was searching the Internet using the name of someone they wanted to reach, they came up with the link to my interview with that person. The person who reached out to me was trying to make a connection with my interviewee on behalf of one of his big clients.  At the point we connected and had a conversation, I invited him and his client to a call with me.  The second occasion was with a gentleman who couldn’t believe he actually got ahold of me through my website. I guess he had been following my interviews with innovators for a while and saw a matchup with the work of the global impact organization he leads.  Turned out to be a perfect fit with a client of mine that has enormous potential for all of us.  High-level types will draw others to you.

I mostly utilize Linkedin for sourcing but do often use news articles, reports, and even videos, either sent to me in online groups or where I’ve found them online.  I also receive frequent referrals from other interviewees, partners, or business developers.

You can see now that sourcing high-level types or highly credentialed types and creating some “searchable” content with them creates more attraction for you.  

Managing your schedule as you continue to grow your business will get challenging, especially if this consultancy is only part of your overall business portfolio of services.  Using a scheduling platform that integrates with your online calendar is a life-saver, but, you will still likely need to manually schedule some meetings.  Get good at understanding time zones - there are some free platforms online to help you in planning these meetings.  One example is

I employ the Mondays and Fridays rule:  Mondays are “admin” days for business operational tasks that include bookkeeping, task assignments for my assistant, and cleaning out old files. Fridays are “exit” days, meaning, I always try to keep the afternoon free in case of personal plans or to tie up loose ends before the weekend.

I have 2 days mostly that I’ve assigned as days I’ll do video interviews and I try to stick to that as much as possible. However, flexibility is key.  You will have to reschedule some calls and interviews so having a couple of spots in your schedule that remain open is a good idea.

Segmenting out your calendar, in general, helps everything to flow better.  Overall, your schedule management will make or break you.  I know it seems simple and maybe unimportant, but, if you let simple things like managing your schedule get away from you, you’ll lose your credibility with clients and sources, damaging your reputation.

So, a word about outsourcing - always a good idea to get someone else to do things that eat up your time.  I use an assistant who learns fast and is intuitive about advancing my business interests.  She writes well, so I can get her to draft articles and newsletters.  She completes the interviews I do.  I get them to our Youtube Channel and she takes over from there, setting up the posting on my website, and she helps me promote and do special projects on other platforms.  Just completing the interviews for me is an amazing help.  I recommend thinking about a short list of things you feel would save you a lot of time and advance you toward your goals.  I sometimes use an intern to help me source for client projects.  They send me the Linkedin profiles for review and if I feel they are good, I send an invitation.  Even if you aren’t quite ready or didn’t think you’d be interested in outsourcing, I urge you to consider a plan that includes a monthly amount in your budget for at least one or two regular tasks that will make a difference to your business.

Lastly, your best partners or collaborators will be other business developers or active networkers. They could also be sales professionals in fields related to your preferred space, business coaches, or event planners/publicity agents. I’ve had referrals from all usually on behalf of their clients. I had a book publisher connect me to her client who became my client as well when sourcing specific types were out of her reach. I’ve had marketing coaches refer their clients and actually I’ve referred to these types as well.

Can you name 3 of these types in your network now that you may not have thought of as potential referral partners?  A quick search on Linkedin using “global business developers” will bring up an ample selection if you are looking to source for potential collaborators.

Time to review:

    • Your 3 key elements for a successful business development consultancy: high-level sourcing consistency, scheduling management, and business development partners
    • Source for great interviewees regularly and make sure that content is searchable online
    • Segment your schedule and develop a task list for outsourcing
    • Source for and be open to other business developers as collaborators

Course Author:  Mary Kurek, President, Frontrunners Development, Inc.



Copyright 2022 © Mary Kurek

Next video is about compensation model alignment.

Module 4 - Segment 3:  Compensation Model Alignment

Script and Resources: Compensation Model Alignment

Probably the toughest thing for most new business developers is figuring out how to charge for their services. There are many ways to make this work for you but a little flexibility in your model will help you create the easiest path to success.  This video is all about Compensation Model Alignment with an emphasis on aligning it with your own existing business model and values.

In this video, you’ll learn:

    • 3 simple compensation models
    • To develop criteria and standards for working with clients
    • The one thing you can do that will help you get paid in a timely manner

After this video, you'll be able to consider and implement your own compensation model.

The first thing you want to do is determine your base rate in your home location currency. Have in mind what services that fee provides for the client. Now to the models:

  1. Contracted by the month (3-month minimum)
  2. Contracted by month + commission
  3. Commission only (sometimes with an upfront engagement fee)

Examples for 1) $3,500 US a month = 3-5 introductions. 2) $1,500 US a month + 10% commission on transactions that financially benefit your client. In the US, remember that there are regulations about finder fees for investment searches so consider that when aligning your compensation model with your work and location. I typically refer investment-seeking requests to professionals whose sole business is just that. 3) I don’t usually do commission-only on deals that could be sales or other situations like a trade or commerce deal. But, I do have referral contracts for deals I think I can contribute to in a significant way.,

The examples above don’t reflect my specific fee structure nor am I suggesting yours should be in those ranges. Your time and skillset are how you value it and it only aligns when your clients understand your value in the same way.

Honestly, the best client I’ve had is someone I knew who had a team that included some other business developer types. I asked him to pay me the same. He did. And it was a happy situation for us both.  It often works well to be a bit flexible and assess how your new clients generally operate with independent contractors, especially if you are dealing with clients outside of your country.

In order to ensure a good working relationship with all potential and new clients, it’s smart to have your own standards for how you operate.  This protects you and your clients from misunderstandings and sets the environment as one of mutual respect.  Here are some ideas and tips that may help:

    • Send invoices and paid receipts (even if you’re operating on contract and they don’t require it) -- helps for tracking and keeps things more organized.
    • Only accept new clients you can envision servicing.  My best clients have been ones whom I could immediately see making several good introductions.  If I can bring one or two to the conversation, I know I can bring more.
    • Do regular updates for your client, especially when there seems to be a lull between introductions.  Ask for directions or new ideas from clients on types to source.
    • If you feel your client can handle it and you have an attraction vehicle like a podcast, invite him or her to co-host an interview with you where they get to form a relationship on camera with someone you’d like them to meet anyway.  This has been a huge boost to my business.
    • Keep track of the contacts you bring to a client using a simple spreadsheet or online platform that allows you to tag and share access with the client.  I have a client who loves this - helps to keep him straight, as well.
    • Set up Google Alerts to track relevant content or people for your client.
    • Only work with clients who already have “movement.”  As an independently contracted business developer, it is critical that you feel confident that you can help your client advance on the success they’ve already achieved.  If you are a business coach who works with startups, it’s your decision on the types you wish to take on as clients, but, as a business developer (not an employee) you will be utilizing the accomplishments and credentials of your client to help you secure new introductions.  It’s very difficult to do that if your client doesn’t have much to show.  I used to tell people that I don’t sell anything but a conversation.  But, in order to do that, I need to show that the person I want people to meet is someone they should meet.
    • Regarding nonpayment of invoices and operational guidelines, those are things you’ve probably already dealt with, but, I would drop any client who doesn’t pay and doesn’t let you know what’s happening.  I would also distance myself from clients who seem to be getting into behaviors or activities that don’t mesh with my personal values and ethics, or into conflict with illegal implications.  Let me say a word more about this latter part:  I haven’t taken on a client that I had these issues with but, I have interviewed 3 people in about 8 years where someone in the interviewee’s life who was disgruntled approached me asking if I had done due diligence on them prior to the interview.  In one case, the person complaining didn’t give their name and didn't really qualify their complaint.  The other two shared long scenarios that seemingly had gone to court.  After checking, none of these cases were anything of my concern and didn’t seem to bear out anything that would cause me to take down an interview.  As a standard rule, I  do not respond to disgruntled persons who feel they need to let me know their problems with someone I’ve interviewed.  Anytime you go public with an attraction vehicle where you are interviewing others, there will always be someone out there who takes offense somewhere along the way.  You will need to decide in advance how you plan to handle these situations, but caution to you; if you respond at all, you are now involved.  If you respond in writing, you have documented your involvement.

We’ve covered a good bit of what you’ll need to know to start your business development consultancy, particularly regarding your compensation model.  I have done a combination of all 3 models over the years, and it works out fine.  Again, being flexible helps.  But, what is the one thing that you can do that will help you get paid in a timely manner?  An invoice is the answer.  So many of us work with companies that turn over their payments to another party (often another independent contractor).  Once it is out of your client’s hands, he or she is not concerned with the process.  The assumption is that everything is working fine.  If you invoice the client or ask them at the beginning who you need to invoice, that will likely help the process flow.  I have a client who instructed his team member to set me up with his bank to send payments each month for the initial 3-month period of the contract, but, we extended, so, once that 3 months was up, the bank stopped sending payments, so I learned that invoicing was the best thing I could do to keep things running smoothly.

Now, let’s review:

    • The 3 compensation models are:  Contracted by the month (3-month min), Contracted by month + commission, Commission only (sometimes with an upfront engagement fee)
    • In order to ensure a good working relationship with all potential and new clients, it’s smart to have your own standards for how you operate. The standards should cover who you’ll work with and how you’ll manage them.
    • The best thing you can do to keep payments to you timely is to invoice, even if you are working off a contract.

The next module is about starting to utilize your new business development skills.  For now, head over to the quiz to help you recap this module.

Course Author:  Mary Kurek, President, Frontrunners Development, Inc.



Copyright 2022 © Mary Kurek

Disclaimer Information - Critical to Your Business

One thing to know in business development is that you can't know everything about everyone. Your job is to relationship build, which allows you to know a good bit about them personally, but, people don't often share it all.

The limited "due diligence" you will likely be able to do is to conduct a short Internet search using keywords that might alert you to someone's legal troubles, incarcerations, or falls from grace. Beyond that, you are left with only knowing what is shared with you.

The best thing to do for all concerned parties is to write and include a disclaimer in the most public places you have for your business (website, email signature, scheduling platform, etc.)

I use a disclaimer in my scheduling platform (currently Calendly).  It reads like this for our media platform interviews: "Disclaimer: We expect all interviewees and the information they share to be true. Frontrunners Development, Inc. takes no responsibility for featured video or written content that is incorrectly or falsely represented. We take no responsibility for conducting due diligence on behalf of those who conduct business with or through connections made via our media platform."

It reads like this for our exploratory conversations: "Disclaimer note: Frontrunners Development, Inc. takes no responsibility for conducting due diligence on behalf of those who conduct business or create partnerships through connections made via our media platform or through exploratory introductions."

The disclaimer content is included on the booking page in the scheduling platform. A disclaimer is also viewable on each page of our website.

We occasionally will use language in conversations that indicate we expect anyone who may be heading to a business transaction to conduct the normal due diligence they would do in these cases, as we do not conduct those activities on behalf of contacts or clients. We can't confirm that this will offer legal protection in all cases, but it is a good way to ensure that you've done your best to inform everyone.

You are highly encouraged to write up your own and display it where it would be most visible and relevant.

This completes Module 4.  Click the button below to advance to Module 5 to complete the course.

Click here to access Module 5Almost done!