The Business Development Podcast

In Episode 109 of The Business Development Podcast, host Kelly Kennedy discusses strategies to optimize business growth by identifying ideal customers. By understanding their product's or service's value proposition and the problems they solve, businesses can identify the best customers to target. Kennedy also emphasizes understanding the competitive landscape by evaluating how others are tackling the same issues, identifying the most effective competition area, and truly understanding where their product or service fits in with the industry.The podcast also highlights the importance of gauging an organization’s advertising spend to ensure their marketing efforts are reaching the right customers in suitable industries. Kennedy, using his personal insights and industry experience, provides actionable advice to help businesses ensure every dollar spent on marketing efforts provides value. Anecdotes and unique scenarios throughout the podcast deliver a practical impact on the strategies discussed, offering listeners valuable takeaways for developing their businesses.Key Takeaways: 1. Identify your ideal customer for maximized marketing efficiency.2. Allocate your financial resources efficiently.3. Seek expert business development advice for growth.4. Understand the importance of work-life balance and taking time for enjoyment.5. Actively work on identifying the best customers for your business.6. Know the problem your product/service solves very well.7. Ensure your advertising dollars are targeted towards the right people.8. Understand facing competition is part of business.9. Adapt value proposition to fit different sub-industries' needs.10. Understand the areas your business competes best in.

21 Feb 202437min

In episode 108 of The Business Development Podcast, the host, Kelly Kennedy, interviews Robert Lajoie, the Vice President of The Business Development Bank of Canada (BDC) Alberta North, Financing and Consulting Group. The discussion centers on the role BDC plays in supporting business growth and development across Canada, their unique approach towards working with entrepreneurs, the broad range of financial services they offer, and how they differ from traditional banks. Robert Lajoie also shares insights on BDC's extensive history, their commitment to fostering the growth of small and medium-sized enterprises, as well as their expertise in different sectors.Moreover, they explore the importance of trust in business, the impact of current financial circumstances on entrepreneurs, and how BDC challenges and advises businesses to encourage their growth. Lajoie also provides advice to entrepreneurs navigating financial uncertainty and emphasizes the importance of understanding the opportunity cost of not investing in certain projects. He further encourages entrepreneurs to reach out to BDC for assistance in overcoming challenges as well as accessing resources and support to help their businesses thrive.Key Takeaways: 1. The Business Development Bank of Canada (BDC) is a significant organization in helping entrepreneurs grow by providing the right capital at the right time for the right project.2. BDC is project-based, focusing on helping entrepreneurs manifest long-term projects while the day-to-day aspects are supported by traditional banks.3. It's not just about funding, but the right strategic advice and challenging the entrepreneur to think beyond their current scope, helping them to grow more efficiently.4. BDC supports not just in-house solutions but connects entrepreneurs with the right partners including other crown corporations, organizations, and resources.5. BDC has a comprehensive approach that includes financing, advisory services, venture capital, equity, intellectual property-backed financing, and more, all targeting growth and transition of businesses.6. Connecting with the right people in the ecosystem is key for the growth of entrepreneurs.7. Even though interest rates might be a concern for entrepreneurs, it's important to look at the overall impact of not taking action.8. The biggest lesson from engaging with indigenous entrepreneurs is that the organization must earn the trust of the entrepreneur to have a successful business relationship.9. Entrepreneurs need more than just a term loan to grow, they need advice and strategic insights into their business operations and for reaching their potential.10. For BDC, working with entrepreneurs is about building trust, establishing good relationships, and then executing transactions based on the personalized needs of the business.

18 Feb 20241h 4min

In this episode of the Business Development Podcast hosted by Kelly Kennedy, the focus is on delineating the essential attributes to seek in Business Development Representatives during the hiring process. Through a comprehensive breakdown of 10 key tips, Kennedy sheds light on the critical qualities that define top-performing individuals in this role. From emphasizing the significance of self-motivation and accountability to highlighting the value of proactive engagement in seeking new business opportunities, Kennedy provides hiring managers and business owners with a roadmap to identify exceptional candidates who embody a strong drive for success and continuous growth. By stressing the importance of likeability, effective communication skills, and a results-driven mindset, Kelly empowers listeners to make strategic and informed hiring decisions that align with the overarching goals and prosperity of their business development teams.Furthermore, this episode serves as a valuable resource for organizations looking to build high-performing business development teams by honing in on the qualities that set exceptional Business Development Representatives apart. By encouraging a focus on traits such as adaptability, resilience, and a customer-centric approach, Kennedy underscores the importance of selecting candidates who not only possess the necessary skills and experience but also exhibit a genuine passion for fostering meaningful relationships and driving business growth. Through practical insights and actionable advice, Kelly equips listeners with the tools and knowledge needed to navigate the hiring process effectively and assemble a dynamic team of Business Development Representatives poised for success in today's competitive business landscape.Key Takeaways: 1. Self-motivation and accountability are crucial traits to look for in Business Development Representatives.2. Proactive engagement in seeking new business opportunities sets top performers apart.3. Likeability plays a significant role in the success of Business Development Representatives.4. Effective communication skills are essential for building strong client relationships.5. Results-driven mindset is a key indicator of a successful Business Development Representative.6. Adaptability and resilience are valuable qualities to seek in candidates for this role.7. Customer-centric approach is vital for fostering meaningful business relationships.8. Hiring managers should prioritize candidates with a genuine passion for driving business growth.9. Strategic and informed hiring decisions are essential for building high-performing teams.10. Building a dynamic team of Business Development Representatives requires a focus on both skills and passion for success.

14 Feb 202432min

In Episode 106 of The Business Development Podcast, host Kelly Kennedy welcomes back serial entrepreneur Colin Harms to explore the concept of blue sky thinking and its profound influence on business success. Through engaging discussions and insightful anecdotes, Colin emphasizes the importance of maintaining a positive outlook on life and business, highlighting the need for adaptability and forward-thinking in an ever-evolving market landscape. Listeners are treated to a wealth of practical advice on how to embrace innovation, creativity, and a growth mindset to navigate the complexities of entrepreneurship with confidence and resilience.Throughout the episode, Colin and Kelly delve into the significance of setting ambitious goals, taking calculated risks, and fostering a culture of collaboration and continuous learning. From sharing personal experiences to offering actionable strategies, the duo inspires entrepreneurs and business professionals to step out of their comfort zones, seize opportunities, and strive for excellence in all their endeavors. Episode 106 serves as a beacon of motivation for those looking to embark on a journey of positivity, creativity, and strategic thinking in the realm of business development.Key Takeaways: 1. Embrace blue sky thinking to unlock limitless potential in business.2. Positivity fuels success for both individuals and organizations.3. Cultivate a growth mindset to adapt to changing market dynamics.4. Set ambitious goals and work diligently towards achieving them.5. Take calculated risks to propel your business forward.6. Foster a culture of innovation and creativity within your team.7. Collaboration is key to driving sustainable growth and success.8. Continuous learning is essential for personal and professional development.9. Seize opportunities with confidence and determination.10. Say "yes" to new challenges and opportunities for growth.

11 Feb 20241h 11min

In Episode 105 of The Business Development Podcast, host Kelly Kennedy reflects on the importance of active listening and genuine human interaction in business development. He emphasizes the value of taking the time to understand the challenges and needs of potential clients before offering solutions, highlighting the impact of asking good questions and truly listening. Kennedy shares personal experiences and lessons learned, stressing the significance of respecting prospects' time and decisions, and the role of kindness and authenticity in building meaningful relationships. Throughout the episode, Kennedy underscores the human element in business interactions and the necessity of approaching prospects with empathy and understanding.In the 1 year anniversary episode of The Business Development Podcast, Kelly Kennedy, the host, delves into the fundamental principles of successful business development, drawing from his own journey and experiences. Kennedy underscores the significance of genuine human interaction, active listening, and respect for prospects' time in building meaningful relationships and driving business growth. Throughout the episode, Kennedy emphasizes the importance of approaching prospects with kindness and authenticity, highlighting the impact of respectful and empathetic interactions in the business development process.Key Takeaways:Prioritize listening over speaking in customer interactions.Ask good questions and listen attentively to the customer's challenges.Bring a notepad to meetings to take notes and show respect.Aim to book face-to-face meetings with kindness and authenticity.Remember that prospects are busy and respect their time.Be understanding if a prospect is not interested and thank them for their time.Approach interactions with prospects as a human-to-human connection.Show genuine interest in improving the prospect's day.Respect the prospect's wishes and avoid being pushy.Focus on building relationships with prospects to achieve success.

7 Feb 202443min

In episode 104 of The Business Development Podcast, host Kelly Kennedy and guest Connor Nichols share their personal journeys into the world of business development. Both individuals recount how they initially pursued different paths, only to find themselves unexpectedly drawn to business development. They reflect on the emotional and transformative nature of discovering their passion for the field, highlighting the pivotal role of personal connections and influential mentors in shaping their career trajectories. The episode delves into Connor's experiences at NAIT, where he encountered diverse perspectives and honed their communication skills, ultimately leading him to embrace the challenges and opportunities presented by the pandemic.Throughout the episode, Kelly and Connor's parallel narratives underscore the universal themes of self-discovery, adaptation, and the power of mentorship in the business development industry. Their candid reflections offer valuable insights for aspiring professionals and underscore the importance of remaining open to unexpected opportunities and continuously evolving in the dynamic landscape of business development. The episode serves as a testament to the transformative impact of personal connections, resilience, and a willingness to embrace change in pursuing a fulfilling career in the field.Key Takeaways: Sometimes career paths can unexpectedly shift, leading individuals to pursue roles they hadn't initially considered.Personal connections and recommendations can influence career choices, leading individuals to explore new opportunities.College and university experiences can provide valuable exposure to diverse perspectives and help individuals develop adaptability and communication skills.Influential mentors and professors can play a significant role in shaping career aspirations and providing industry insights.Networking and relationship building are crucial components of career success, particularly in fields like marketing and business development.Industry-focused education and practical experiences, such as client presentations and promotional campaigns, can prepare individuals for real-world challenges.The COVID-19 pandemic presented both difficulties and opportunities for personal growth and self-improvement.Independence and adaptability are valuable traits that can help individuals navigate challenging circumstances, such as transitioning to remote learning during the pandemic.Embracing change and finding the positive aspects in difficult situations can lead to personal and professional development.Family influences and early experiences can shape individuals' values and attitudes towards independence and self-reliance.

4 Feb 20241h 9min

In this episode 103 of the Business Development Podcast, hosted by Kelly Kennedy, the focus is on strategies for the development and success of small businesses. Kelly emphasizes the value of time, resources and skills management in the running of a small business and shares valuable insights on business development. The episode features expert advice for the growth of small businesses, with discussions about practical daily tips for business owners and importance of active marketing strategies.Kelly highlights the significance of LinkedIn as a platform for enhancing connections and utilizing it for business growth. There is also advice on how to best use digital calendars, websites and brochures as key tools in business development. The importance of creating a diverse team, carrying out active marketing strategies, making the best use of phone calls, and taking responsibility for business growth are discussed in detail. Kelly encourages listeners to maintain a consistent daily notepad detailing their top duties and fostering a practice of regular follow-up. The episode concludes with a reminder that taking control of business growth contributes significantly to long-term success.Key Takeaways: Use a calendar effectively for meeting schedules, work time, and business development activities. Consider investing in a professional website and brochures to potentially boost brand awareness and attract customers.Dedicate at least one day per week for new business development tasks.Employ a Customer Relationship Manager (CRM) system to keep track of your business development efforts.Assemble a diverse team and delegate tasks to them.Avoid using money you don't have on passive strategies. Focus more on active business development strategies.Regular phone calls are beneficial for direct communication with clients and valuable for active marketing.Utilize LinkedIn to its full potential as a networking and connecting tool.Understand the importance of taking responsibility for the growth of your business.Keep a daily notepad to note down and keep track of your top tasks for the day. Need a CRM? Pipedrive CRM partner link with extended 30 Day Trial: https://aff.trypipedrive.com/5zsg0410z40x

31 Jan 202436min

In Episode 102 of The Business Development Podcast, host Kelly Kennedy engages in an enlightening conversation with Douglas Holt, the Associate VP of Investments at Alberta Innovates. Holt, with over 20 years of leadership experience spanning financial services, government, technology, and education sectors, shares valuable insights on pursuing smart growth strategies in the ever-evolving business landscape. He discusses the emergence of new markets and technologies, emphasizing the need for companies to adapt, challenge themselves, and embrace global opportunities. Holt also sheds light on the changing capital market dynamics, urging entrepreneurs to focus on cost-efficient and profitable growth while aligning with patient capital providers for long-term success.Throughout the episode, Holt and Kennedy delve into the challenges faced during economic downturns, the importance of managing costs, and the role of capital in driving sustainable growth. Listeners gain a deeper understanding of the critical factors influencing business development and are equipped with practical advice to navigate the evolving capital market landscape. The episode serves as a valuable resource for entrepreneurs and business professionals seeking to make informed decisions and pursue growth strategies that align with their long-term objectives.Key Takeaways: Pursue smart growth strategies that prioritize cost-efficient and profitable growth.Embrace new markets and technologies to stay competitive and challenge yourself.Adapt to changing market dynamics and global opportunities.Align with patient capital providers for long-term success.Manage costs effectively during economic downturns.Focus on profitable growth rather than growth at any cost.Seek out capital that aligns with your priorities and long-term objectives.Build a talented team of experts to coach and support your company's growth.Leverage community connections and strategic partnerships to gain traction.Conduct intricate financial analysis to inform corporate strategies and decision-making.

28 Jan 202457min