Women in business How to succeed in business development - 8 May 2009

Results of recent studies in the commercial real estate industry
probably are very similar to those in other industries such as medical,
industrial or higher education where leadership positions such as
business development are still held predominantly by men. According to
a recent study of the Commercial Real Estate Women, only 36 percent of
development professionals are women and only 23 percent of the
respondents said they were employed in a brokerage function. What will
it take to make this profession genderless?

When I started my
career in the commercial architecture, engineering and construction
industry, having a lot of contacts was critical, as it still is today.
I was fortunate to start working in high school in this industry, move
naturally into business development over the next 10 years, and then
attend college to further my knowledge. When I started in business
development, I found that I wasn’t taken seriously because of my gender
and age.

Certain aspects of industry leadership can make a
difference in how quickly such professions as business development
become genderless. According to another national CREW survey, “Minding
the Gap,” 56 percent of the respondents believe that both men and women
are more comfortable managing groups of their own gender. Companies
that make the effort to develop mixed-gender management teams will
create more opportunities for interaction, skill development and
mentoring.

The responsibility for succeeding in business
development still remains on the individual as it does in any field. It
is a career that often requires risk in generating revenue and
involves, at least in part, performance-based pay. Most surveys
indicate that women are often so uncomfortable with the risk inherent
in such pay structures that they select what is perceived to be
fiscally safer, which can result in lower-paying careers.

Some tips for success include:

Be
assertive (not aggressive). Timing is everything. I think women tend to
give up easier than men. Knowing how to take the lead in conversations
at that right time assists you to establish credibility quickly. Even
body language such as how you react in conversations and how you
introduce yourself should be assertive. Keep in mind that the old rule
in business to have a firm handshake is still true today.

Be
confident. When I started in this profession, if I introduced a
potential client to a male associate, the client, whether male or
female, tended to look past me and speak to the male architect or
contractor, leaving me basically out of the conversation. I learned
early on that I needed to know my industry very well and to assert
myself into the conversation. Gradually, the frequency of these
incidences decreased.

Think analytical. While women are often
experts at matching buyers and sellers, they don’t always concentrate
on analytical skills. In our industry, you may be involved in preparing
the analysis of possible property transactions, including worksheets
that display expected finances and investment data. You have to
thoroughly understand how decisions are made in all aspects of a deal.

Don’t
expect instant gratification. It’s just not in the job description.
Business development is about developing long-term relationships. You
also have to think of your career as long-term. It’s common for a man
to devote a lot of time to his career and for his wife to support him.
The struggle is reversing these roles.

Always be at the top of
your game. Learn, learn, learn. A woman may get in the door because of
her gender, but she needs to know her product inside and out, to be
taken seriously. It is also helpful to have a mentor, preferably one
who has been in the business development role for several years within
your industry.

I’ve always been a driven individual in every
aspect of my life, but I think in the beginning I had to work harder
than a man would have to be recognized for my achievements. Whether you
are a man or a woman, business development is a tough job; it’s
time-consuming and stressful.

More and more women are being
hired as business developers. I believe the gender issue is going by
the wayside. The true struggle for anyone is, do I have the skills and
personality characteristics to do the job?

http://www.insidebiz.com/ME2/dirmod.asp?sid=&nm=&type=Publishing&mod=Publications%3A%3AArticle&mid=8F3A7027421841978F18BE895F87F791&tier=4&id=ACE9470E838B4AF19FF424E486D0BCC7

Jan Hall
CPSM, LEED-accredited professional, is director of business development
for RRMM Design Build LLC. She is a member of CREW-Hampton Roads and
serves on the executive board of the Hampton Roads Association of
Commercial Real Estate. Hall can be reached at 622-2828 or
jhall@rrmm.com.