Business Development: Prep Like You’re James Bond

I’ve always been a big fan of old James Bond movies. I love the exotic locations, high-octane action sequences, crazy gadgets and iconic music.

At the start of each movie, Moneypenny, the secretary to M, the head of MI6, provides Bond with target photos, mission briefings, location details and information on local contacts or allies.

Moneypenny's involvement is critical for Bond's success. She helps him understand his adversaries, anticipate the villain's moves and navigate unfamiliar territories.

Preparation is Mission-Critical

Moneypenny’s intel serves as the foundation for Bond’s preparedness. She enables him to stay one step ahead of the enemy and gives him the tools needed to adapt quickly during his missions.

So, what does this have to do with business development?

Wouldn’t be great to have Moneypenny in your corner?

If you’re fortunate to work for a firm with a large support function, you might be able to find your own Moneypenny to assist with business development. But, more than likely, this research phase will fall to you, the business developer.

Build a Bond-Style Dossier, via LinkedIn

If I were to create a James Bond dossier on a business development prospect, I’d immediately go to LinkedIn.

There, you can look for commonalities, such as, do you:

• Attend the same school as the prospect?

• Share history (ex: you both worked for the same employer in the past)?

• Support the same nonprofit?

• Participate in the same trade association?

Sure, you can see a lot of information without connecting with the prospect. But take the next step and send a personal connection note to the person. Once you’re connected, look for any shared relationships. Consider reaching out to one or two of those connections for insights on approaching the prospect and understanding their buying decisions.

Also look in LinkedIn’s recommendations section. See anyone you could reach out to? You could email or DM them to see if they would elaborate on what they wrote about the prospect.

Explore Your Prospect’s Digital Footprint

Next, I’d head to the firm’s website to learn about the company’s history, mission and leadership. The news and press release section lists recent business announcements that may create sales opportunities. Blogs or thought leadership content provide insights into the firm’s focus or priorities.

Another content deep dive: Google your prospect’s name to see if they contribute to blogs and subscribe to those publications.

If your prospect works in the leadership area, you will often find additional information on the website that’s not on the person’s LinkedIn profile, like details on specific accomplishments, industry recognition and firm influence. Occasionally, employee profiles on a website provide personal information about the individual, their family, their hobbies, where they vacation, etc.

See anything about industry trade associations on the website? Check those associations to learn about current trends, common pain points in their market and emerging opportunities that could align with your offerings.

Most companies will highlight the social media channels they use on their website. Look to see which ones (LinkedIn, X, Facebook or Instagram?) have the most followers for the firm or the prospect. Companies often use these channels to make personnel announcements, report how the firm gives back to the community and announces when individuals receive internal or external awards and recognition. And just like the news and press release section of a firm’s website, LinkedIn posts will likely provide more background on new developments at that company.

Move From Intel to Engagement

Moneypenny loves research, but she knows it’s possible to spend too much time on it and that Bond needs to begin his mission.

So, once the research phase is over, it’s important to evaluate and prioritize what you learned. What content can be used in your discovery meeting to find current/future needs and pain points? What power questions come to mind? What content can be used in relationship building, either to secure a meeting via a personalized email or can be used in a get-to-know-you meeting?

Like Moneypenny, you want to be aptly prepared for a first-time meeting. Doing the essential business development prep work provides an extra boost of confidence to make a strong impression. Prospects will take note that you’ve done your homework and are a serious player who can help their business.

I’ve spent my career coaching, mentoring and training people who work in sales and business development. I love what I do, and I can help you and your team love business development, too. Need my help? Let’s talk.