Business Development | David Chan

Kenny G – What Makes A Person A Leader

July 15th, 2009 By DavidChan Leave a Comment

I’ve written several blogs about business development and joint ventures. But there’s far more to business development than just knowing how to make deals or closing a sale. A key component of business development is knowing how to be a leader. There’s a famous quote by Vince Lombardi, “Leaders aren’t born, they are made. And they are made just like anything else, through hard work.”

No one knows about hard work better than Kenny G, the Grammy award winning Saxophonist. His performances and on-stage presence are legendary. No one gets to his level without good old fashioned hard work and practice. Even a person of his caliber continues to work hard. I’m sure because he loves his art, but also because i think that music is not an end-game, but a journey.

Today, I had the great opportunity to participate in an event with Kenny G. He honored the George Mark Children’s House by visiting with us today, cajoling with the staff, playing with the kids, and just plain hanging out. He even directed his own video footage of the house to use at his concert tomorrow evening in Saratoga.

So, what makes a person a leader? Kenny G defined that today for all the families and staff at the George Mark Children’s House. One can only imagine the amount of requests Kenny G has on his time. And, just think about the amount of available time he has to give, considering his concert travels, set up, practice and even family time.

The fact that Kenny G took the time out of his busy schedule to visit a small, unknown care facility for terminally ill children is an example of what defines a leader. The fact that he spent twice the amount of time visiting than what we expected further illustrates his leadership qualities. And, to top it off, he just made people feel good, which is the real hallmark of a leader.

I’ve previously discussed why the music industry needs to change. New business development paradigms need to be developed which are more aligned with the realities of today’s world. One of these paradigms is the shift to cause-based marketing. This entails taking music and aligning it with a cause. Kenny G’s involvement today serves as an example of how a celebrity, wrapped around a cause, can move mountains. It’s a wake up call for the rest of the “me” celebrities that the whole is greater than the sum of the individual parts.

Kenny G, collaborated with three of his colleagues: Skyler Jett, Robert Damper and Genevieve Goings on a song called “Eternally.” It’s a song dedicated to the cause of George Mark Children’s House. The song celebrates life, dignity of soul, and compassion. Here is a wonderful example of celebrities giving back to the very people who need it most, our children. You can follow the journey at www.EternallyTheSong.com.” Thanks, Kenny.

How to Communicate Effectively

May 9th, 2009 By DavidChan 1 Comment

Communicating effectively is one of the top skills that everyone should learn to master. And, the sooner, the better. While I did not formally study communications, I believe that I communicate well. Effective communications is so important these days because there is so much “noise” in our lives … on the news, over the Internet, and absolutely on our mobile devices. The key to communicating effectively is to assess the situation in which you are in, decide on what you want and figure out how you’re going to get it.

Let’s take an example of workplace dynamics. Clearly, there is a “protocol” for communications and an unspoken power dynamic between two participants. If you manage people, the proper communication method is to use leadership skills to communicate. However, if you are communicating upward, you’ll want to maintain your self-esteem, while recognizing the upward authority. Certainly, strongly voicing your opinion is encouraged; however don’t be offensive.

Many effective communications authorities would recommend that one should be looking for a win / win outcome. In other words, you get what you want by giving something in return. For example, if you’re looking for a raise at work, you could recommend new procedures that could save the company money or help increase company revenues.

There are also effective communication techniques in business development as well. Perhaps, you’re looking to partner with a new company. They have funding and implementation expertise, while your company has unique software intellectual property. In this scenario, effectively communicating how both companies would benefit from working with each other would be the best outcome. For example, a win / win scenario could be that you enlist the implementation company as a sole source provider for their services. In return, the implementation services company could provide much needed marketing and business development funds.

There are many more examples of how effective communications can streamline business discussions, as well as help create mutually beneficial relationships. The key to effective communication techniques is to take the time to do your homework. Make sure you understand what your counterpart is looking for and what motivates him or her. Decide on what you or your organization is trying to achieve, craft a proposal where both parties win and then succinctly communicate that proposal.

Business Development In A Slow Economy: Small Business Is Where It’s At

April 15th, 2009 By DavidChan Leave a Comment

Every day layoffs are in the news around the country. No one right now is feeling secure in their job. With the recession in full bloom and housing still in the tank, there will likely continue to be more layoffs. However, in contrast, Internet businesses are enjoying an uptick. The old fashion way of building a small business “brick by brick”, i.e. the brick and mortar way, requires sizable overhead investment. Starting a business online can be accomplished literally on a shoestring. If you’re struggling to make ends meet and unclear about your future, perhaps now is the time to think about building an online business.

It does take some time, understanding and work to get an online business going. However, it will pay off in spades if run correctly. In fact, it could be a profitable venture in a shorter time than trying to build an “offline” business. One way to fund your online business, if you’ve suddenly found yourself unemployed, is to use unemployment benefits to bridge your income shortfall. Of course, consider searching for a “traditional” job in parallel. Craft your strategy correctly, just like you would
if developing any business plan in the traditional world.

There are literally tens / hundreds of thousands of online business. So, it’s clear that you must think outside the box. If you’ve been an account in the past, consider offering online bookkeeping services or consulting with clients for on how to structure their accounting systems. What if you were an application developer in the past, perhaps you can offer your help through online bidding services such as Guru.com or RentACoder.com. These services are great for giving you a baseline of potentially unlimited short-term engagements.

Many people would just brush off building a business online as “too hard.” This is especially true if they’ve never done this before. But, the real question to ask yourself is “what do I have to lose, except time?” Let’s dissect a few of the components. Buy a domain name, build a website or use an existing site / blogging service such as WordPress, and start advertising. You should spend a few hours every night writing about what you enjoy most. Explain to your audience about certain techniques, what actions work best, where to get more information, etc. Once you start, you’ll find it amazing how much knowledge you really do have about the subject.

Of course, you have to realize that regardless of how small your business there will be competition on the Internet. The Internet has something approaching 400 million websites, give or take. But, the beauty of this is that you have the opportunity to check out your competition. You can figure out what they are doing right or wrong and create your own unique products and services.

On the flip side of the coin, if you are not a proficient web designer, you might hire one of these people off of the services listed above: Guru.com or RentACoder.com. These services provide ratings on the coders within their portfolio. It makes it much easier to pick a competent web developer.

Again, just like any business, be sure you know your objectives. The Internet should be a “one-action “model. Don’t confuse the issue with creating too many “personas” or themes about you or your offering. You will end up confusing the audience / paralyzing their thought process and they will end up not buying. Make sure you have quality content on your site, as well.

Marketing will be a key component to a successful launch of your business. I like to say that you can build a website, but if no one knows that it’s there, does it really exist? Remember you ARE competing with millions of other websites. At a minimum, you are competing with thousands of business in your category. How will you stand out? What are your unique selling points? Are you relevant?

Marketing your website is probably the most difficult aspect of starting a small business online. By the time you’re ready to launch your site, you need to be prepared to invest some bucks in bringing your small business to the attention of the world.

In the end; however, this small investment could be the biggest you’ve made to be in control of your own future. This is probably the best time to invest in your tomorrow’s future by developing your own business.