Business Development Playbook

HOW DO YOU IDENTIFY A NEW CLIENT?

• Research and as part of longer term market team strategic growth plan. Also leverage relationships from within (new employees), partners or general industry knowledge. • Monitor the market, real estate brokers, articles in publications, who is on panels at conferences, trade organizations, gossip on the street, etc. • You have to use a variety of methods to identify a new client. The key is to always keep your eyes and ears open for new names and companies. Then take the time to research them and develop a strategy to approach them. Ideally, you would get an introduction but even being able to use the name of a client when you reach out to a potential new client makes the call much more than a pure cold call. When you make the contact with the potential new client, you need to be ready to follow up and connect dots to a future opportunity as it will likely take time to work your way in. • Stay engaged with the market, ask questions of trusted preferred partner/ clients, monitor media, talk to brokers/LD attorneys. • Target the market sector and have a pulse on the competitors doing the work for said client as well. • I start with the market or submarket that is of interest, then research who the clients are that are established in those markets. Research is a combination of online searches, review of trade publications, industry events, and networking with contacts (brokers, clients, etc.). • For public clients, often capital improvement programs are available online. Research these and identify the ones who have upcoming needs that we can assist them on. For private clients, word of mouth is often used. • I look at organizations that represent the markets we want to be in or working in and then look at the list of attendees. Usually the bigger players in these markets are part of the organization. Another way is speaking to contractors or other sub-consultants to find out who they are working with and for, then see if they can provide contact info or provide an introduction. • Primarily through leads and tips from influencers and contacts (attorneys, brokers, etc), but also from intel gathered from networking events, email chains on existing projects, and other sources.

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Business Development Playbook