Welcome to The BDO Show! A podcast for passionate BDOs wanting to level up their game with advice and stories from battle-tested BDO’s.

Reaching out directly to business owners offers unparalleled opportunities for BDOs to cultivate genuine relationships and achieve superior results.

In this episode, we dive into effective techniques for direct outreach, common pitfalls to avoid, and strategies for maintaining long-term relationships with business owners.

Remember:

• Authenticity Matters - Building rapport with business owners through genuine connection rather than aggressive pitching leads to stronger, more fruitful relationships.
• Strategic Follow-up - Implementing systematic follow-up strategies ensures you're not forgotten and keeps your services top of mind.
• Unique Approaches -Leveraging niche platforms and unconventional methods can help you stand out and effectively reach potential clients.

Please e-mail us any questions, or suggestions for future episode topics at TheBDOShow@ArtofSBA.com

This episode is sponsored by: SBA Protection Quick Close Life Insurance – the fastest, easiest way to secure the insurance protection your borrower needs for their SBA loan.

For more information, visit their website www.sbaprotection.com or email Adam Bergen at Adam@SBAProtection.com

CHAPTERS

0:00 | Introduction

3:32 | The Importance of Direct Outreach to Business Owners

8:53 | Strategies for Direct Marketing and Building Client Relationships

11:59 | Networking and Common Mistakes in Business Outreach

15:20 | Effective Strategies for SBA Lenders to Attract Borrowers

18:33 | Effective Strategies for Connecting with Business Buyers

24:58 | Maintaining and Nurturing Relationships with Business Owners

29:38 | The Power of Authentic Relationships in Business

in today's episode, we welcome Sterling back from his Europe trip, roast Ray Drew's Spreadsheet skills, and discuss building robust relationships with other business development officers (BDOs).

"Relationship building with other BDO's is really probably the secret sauce for my success as a BDO."

Creating a network of fellow lenders can often outweigh even direct broker relationships.

There is tremendous value in being at the forefront of other bankers' minds. When another BDO encounters a loan they can't process—whether due to geographical limitations or specific credit appetite—they can refer it to you if you've established a solid relationship.

This networking isn't just about exchanging business cards; it involves engaging in meaningful conversations about each other's processes, credit boxes, and overall banking experiences.

"Talk to a bunch of different bankers and start to build kind of a banker network."

Continuously nurturing these relationships through lunches, dinners, and genuine interactions helps keep you top of mind, ensuring that you're the BDO they think of when they encounter deals they can't handle.

How do you handle Deal Trading with other lenders? Let us know at TheBDOShow@ArtofSBA.com.

This episode is sponsored by: Peak Business Valuations

Peak Business Valuation works with over 80 SBA bank lenders across the country, performing around 1,100 SBA-compliant Business Valuations and 100 Equipment Appraisals a year.

Those whom we work with label us as fast, reliable, and insightful.

For more information, visit their website www.peakbizval.com or email Ryan Hutchins at ryan@peakbusinessvaluation.com

CHAPTERS

0:00 | Introduction

4:08 | Building Success Through Networking with Other Lenders

12:23 | Compensation and Ethics in SBA Lending

15:27 | Fraud in SBA Lending

19:34 | Legal and Compliance Issues in Deal Trading

25:16 | Building Long-Term Relationships in SBA Lending

32:40 | Building a Lender Network and Knowing Their Specialties

33:46 | Travel, Haircuts, and Spreadsheet Mastery

The views and opinions expressed in this program are our own and/or those of our guests. They do not necessarily reflect the views or positions of our employers.

Selecting the right conference or trade show is crucial for any BDO. Not every conference will provide the same return on investment, and as the speakers repeatedly highlight, the key is knowing your audience and goals.

Aligning your conference participation with your business goals involves several considerations:

1. Attendee Profile: Identify who will be there. Are they your target audience? Is it saturated with competitors?
2. Peer and Competitor Presence: As Hackney notes, seeing competitors at a conference can be both a positive and negative indicator, depending on the concentration.
3. ROI Tracking: Monitor your success from these conferences. Hackney explains, “track it in our LOS. When you get a deal sourced from it, tag that conference.”

We want to know: what are your conference pet peeves?

E-mail us or give any other questions/suggestions at TheBDOShow@ArtofSBA.com

This episode is sponsored by: Rapid Business Plans

Rapid Business Plans is the go-to provider of business plans and feasibility studies for government guaranteed small business lenders.

For more information, or to set up a Get Acquainted call, email Bethany McClellan at Bethany@rapidbusinessplans.com or visit https://rapidbusinessplans.com/

0:00 | Introduction

3:09 | Rapid Business Plans: Empowering Borrowers to Bring Visions to Life

4:11 | Strategies for Choosing and Maximizing Trade Show Attendance

10:01 | From Local Trade Shows to National Conferences in SBA Lending

22:06 | Managing Energy and Building Relationships at Trade Shows

24:58 | Balancing Networking and Professionalism

29:11 | Maximizing ROI and Avoiding Pitfalls

33:12 | Conference Tales: Luggage Mishaps

36:50 | Conference Etiquette and Professionalism in Business Settings

41:34 | Conference Networking Strategies and Memorable Experiences