Although we call it business development, it really is relationship development. We are constantly involved in building relationships inside and outside of our membership. The Frontrunners Innovate magazine gives us one reason to be circulating and conversing regularly, but, we are well known for our networking and introduction talents, so, we attract innovators and resources at a pace that the average person would not.
Below is an example of the types of connections that we entertain in the course of little more than a week. (You can also click on the like button in the post to see the number of views and comments.)
Within this one Linkedin posting that includes 14 names, exist 10 separate individual and group conversations. All but 4 of these people are current League members. The results:
- Invitation for 3 members to guest on another member’s popular compliance podcast that has 30k listeners.
- Opportunity for a member to secure a board position with a start-up introduced by an investor (also a member).
- Assistance offered from one member with connections to the health community in India to help another member’s start-up determine the viability of a clinical trial there.
- Possible manufacturing opportunity between a start-up needing 3d-printed parts and a member’s manufacturing plant.
- 3 Frontrunner League prospects.
- Offer by a private investor/member to introduce our business development team to an impact investment firm.
- Offer to introduce our business development team to a contact within the foundation of a Fortune 500 company relative to their impact work.
- Agreement between our business development team and the team of another member to collaborate.
- Investor interview for Frontrunners Innovate set up.
- Discussion on the use of another member’s technology to support a start-up project.
As is usual, these early results required next steps that played out over the following weeks, such as an NDA signing, facilitation of second and third conversations, white paper reviews, and interviews. All of this occurs while new opportunities are emerging with other members. While some of these conversations would just be the normal course of business included in League membership, it’s important to know that specific introductions made at the request of a member could include a fee assessed by our business developer. It would depend on the nature of the request. Additionally, when we come across what we feel will likely become a business transaction, we would consider that “contracted business development” and a contract for such would be issued by our partners at Living Learning & Working, Inc. Read more here.
Introductions move you quicker and easier into momentum and is an essential part of business growth. It helps to have a well-connected globally diverse curated network of follow-through types. The Frontrunners League is that network.
Oh, and 2 of the people included in the posting above commented as follows: