One aspect a Business Development Professional learns over time is the
cost of bad business. Early in our careers, we are so anxious for
business that we fail to establish relationship guidelines resulting in
bad business relationships. This failure to set the rules and to
evaluate the actual cost of a bad, long term business relationship
leads to trouble. If lucky, we generate some revenue, some commission
and perhaps some profit all the while rationalizing that we have
business. Unfortunately, the full cost of bad business is never
calculated. We remain in a dependent state of mind believing what we
have is all we deserve and this makes us vulnerable to taking on
additional bad business.
As we gain experience in our careers, we begin to develop some
positive, long-term, professional business relationships beneficial to
both parties. These relationships are based on mutual respect and
professionalism, where both parties help each other as well as those
beyond the immediate relationship. By comparing these relationships to
ones earlier in our career, we realize that bad business really is
worse than no business at all. Bad business is often allowed to hold us
back. We take comfort in believing we have business, however it’s not
the kind of business that makes us successful! It was once said,
“If you didn’t have any business, you would know that and you would
work to find some.” It’s time to review your business, get rid of
the bad business and become excited about finding the good!
