245: Business Development Misfires and Best Practices with Terry Rice
How can you get paid for who you are, not just what you do? Today’s guest, Terry Rice, is teaching us his Golden Link Strategy for creating a steady stream of potential clients, without giving them (or you) “the ick” through cold outreach misfires.
He also shares speaking and marketing tips he pulled from one of his mentors, Daymond John, how he reframes business development activities, why it’s vital to get your offer right before you focus on branding, how he makes time for 12 hours of creating each week (even with four kids), and the sacrifices he made after his business started taking off.
More About Terry: Terry Rice is a performance coach and business development consultant. He is a staff writer at Entrepreneur magazine and host of Launch Your Business, a podcast that helps entrepreneurs make money, save time and avoid burnout. Terry is also the author of Start Your Own Consulting Business: Your Step-By-Step Guide to Success.
A recognized marketing expert, Terry’s previous experience includes internal consulting roles at Adobe and Facebook. Terry is an instructor at New York University, and has been featured as a subject matter expert by Good Morning America, Fast Company and the Wall Street Journal. Terry is based in Brooklyn; he is a husband and father of four children.
🌟 3 Key Takeaways
The Golden Link Strategy: Learn how to borrow other people’s audiences, especially if you don’t have the money to buy paid ads. This could include joining local organizations
Biz Dev before branding: Instead of posting on social media and creating content hoping people will see it and reach out to you, reach out to people you want to work with and show how you add value. Identify gatekeepers, ask questions on their posts, and then it can move to DMs, then meetings.
Practice strategic patience and give first: Whenever you project lack or scarcity, that’s when things won’t work out well. Start now, knowing it may be a long game. Solve a real problem for someone, subscribe to their newsletter and reply, What can I create with this person instead of what can I get from this person?
📝 Permission
Be unreasonable. Go from needing to wanting, even without a justification why. As George Bernard Shaw said, “The reasonable man adapts himself to the world; the unreasonable one persists in trying to adapt the world to himself. Therefore, all progress depends on the unreasonable man.”
✅ Do (or Delegate) This Next
Conduct a time audit: How much time do you need each week to create content for your business? Client follow-up? Business development? Add those as recurring blocks to your calendar.
🔗 Resources Mentioned
Articles: Terry’s articles on Entrpreneur.com
Video: Pitching & Proposals with HoneyBook Pro and Business Consultant Terry Rice
Tools: Apollo.io
📚 Books Mentioned
Start Your Own Consulting Business: Your Step-By-Step Guide to Success by Terry Rice
$100 Million Offers and $100 Million Leads by Alex Hormozi
Discipline is Destiny by Ryan Holiday
Vivid Vision by Cameron Herold
🎧 Related Episodes
Terry’s podcast: Launch Your Business
Free Time: 061: Scaling Boutique Businesses with Greg Alexander
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