Ask 100 people if they’ve read Napoleon Hill’s book, Think And Grow Rich, and 99 of them will nod their heads. Several of them have read it more than once.
But ask the same 100 people if they’ve read W. Clement Stone’s book, The Success System That Never Fails, and 99 of them will shake their heads, meaning they haven’t read it. Most of them have never even have heard of this book.
So, what’s the difference between the two books?
Hill’s book talks about various success principles, whereas Stone talks about applying Hill’s success principles in a systematic manner. That is, Stone put Hill’s concepts into a system.
And what was the result?
It’s also worth noting that Hill was dead flat broke throughout his life. According to his biography, after several years of hardship, even his family deserted him. He was saved from almost certain starvation when Stone hired him as a sales trainer.
But putting Hill’s success principles into a system Stone became blazingly successful.
The Same Is Happening Business Development…
Principles alone are people-dependent. But people are inconsistent in doing what’s best for them.
There have been several studies done on people whom their doctors told to change their lifestyles or they die. Over 90% of them refuse to change their lifestyles and risk their lives.
And this is why business development must be put into a system.
And here we have to stop and distinguish between…
Intellectual Capital And Intellectual Property
Intellectual capital is something that resides in people’s heads as knowledge. Let’s say you have a crack team of salespeople who produce amazing results. The performance is inconsistent for it’s human-dependent, but overall, it’s pretty good.
But this knowledge is not your company’s knowledge. If your sales people quit your company, unless you can replace them, you’re doomed.
Intellectual property is a system that integrates these people’s intellectual capital. And this system belongs to the company. Now salespeople can come and go, but the system remains.
Think of Google’s search formulas. People can come and go, but the formula remains in-house. It’s Google’s intellectual property. Without that algorithm Google would be pretty much worthless. With that algorithm Google is almost priceless.
In an IT business it’s the business development system makes a company priceless or worthless.
A company that doesn’t have an in-house client acquisition system is basically worthless. And a company that has an in-house client acquisition system is pretty priceless.
So, look at your business development? Is your company in the mercy of a few superstar salespeople who might quit you tomorrow? Because if they do, then what? It can easily be the end.
Not to mention that when salespeople quit, they often take their best clients with them.
Remember, if you don’t have a system, your people apply their own systems which they’ve developed to their own benefits and often to your company’s detriment.