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Interview with Mo Bunnell, CEO, Bunnell Idea Group

Interview with Mo Bunnell, CEO, Bunnell Idea Group

Released Tuesday, 13th October 2020
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Interview with Mo Bunnell, CEO, Bunnell Idea Group

Interview with Mo Bunnell, CEO, Bunnell Idea Group

Interview with Mo Bunnell, CEO, Bunnell Idea Group

Interview with Mo Bunnell, CEO, Bunnell Idea Group

Tuesday, 13th October 2020
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Episode Transcript

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0:00

Welcome to

0:00

rainmakers. I'm Carl Grant. And

0:08

let me tell you a little bit

0:08

about what rainmakers is, if

0:11

this is the first podcast you're

0:11

listening to of our series, this

0:14

is a podcast about business

0:14

development. When I started out

0:18

in business development, nobody

0:18

was there to teach me how to do

0:21

what I do today. And so I want

0:21

to give back and teach others

0:25

how this is done. But not just

0:25

for me, I want to talk to the

0:28

best of the best. And today I

0:28

have mobinil I knew I was gonna

0:33

not spit that out. Right, Bo,

0:33

Mo. But Mo was referred to me by

0:38

Tyler Sweat and other guests of

0:38

mine who said that he received

0:42

most training, and he said that

0:42

it was some of the best in the

0:45

world. Now, moe is CEO of Bonell

0:45

Idea Group. He is the author of

0:49

the snowball system. And he's a

0:49

host of his own podcast called

0:53

real relationships, real

0:53

revenue. Welcome out.

0:57

Hey, Carl, thanks

0:57

for having me. I'm excited about

1:00

the chat today.

1:01

Absolutely. I was

1:01

reading through your bio and

1:03

listening to some of your book

1:03

and your podcast. And you didn't

1:07

start out as a business

1:07

development guru. You started

1:10

out as an actuarial analyst. How

1:10

in the world did you go from

1:14

doing that to figuring out that

1:14

this was your calling in life?

1:17

Well, I'm laughing.

1:17

I don't know that I've shared

1:19

this with many people. But I can

1:19

remember being a junior or

1:23

senior in college, the school I

1:23

went to actually had an

1:26

actuarial science program. So I

1:26

was getting a major to be an

1:29

actuary major in actuarial

1:29

science. And most of the guys in

1:32

my fraternity, were going on to

1:32

be salespeople. And one of those

1:36

guys was walking as walking down

1:36

the road. And he said, Hey, Mo,

1:39

what your you've been voted best

1:39

rusher, you know, for three

1:42

years in a row or something like

1:42

that, basically, like sales in

1:45

the fraternity world, if you

1:45

will, in college, it was the

1:48

rush the rush chairman.

1:50

Wait, go ahead. Were you the rush chairman?

1:52

No, but I was I was

1:52

the guy that people would put me

1:55

in a corner with somebody that

1:55

was a high potential. So they

1:59

voted best rusher. Right. And I

1:59

got it, I think three years in a

2:03

row or something like that.

2:04

That's when I was

2:04

rushed, chairman for two years.

2:06

And we're both in delta delta in

2:06

in college. So we should bring

2:11

that out.

2:11

I love it, man. And

2:11

when we saw that I was just

2:14

grinning ear to ear because I've

2:14

been went to your school as a

2:16

chapter leadership consultant

2:16

for the fraternity.

2:19

So right. So you did

2:19

that after being an actuarial

2:21

and, and so but at what point it

2:21

what juncture in your life, did

2:25

you realize I'm really good at

2:25

this, I'm going to teach others.

2:29

Ah, well, I was

2:29

rising up through the ranks at

2:32

HR consulting firm, and I really

2:32

fell in love with not just doing

2:37

business development, because

2:37

after I had a system after it

2:40

sort of cobbled to science and

2:40

steps together a little bit,

2:42

nothing like we have now but it

2:42

was working at the time, 20

2:45

years ago. And I fell in love

2:45

with not just the BD part, but

2:49

the teaching of others. And

2:49

Carl, that's when I really

2:53

realized this is the thing I

2:53

want to do the rest of my life.

2:56

I talk a little bit

2:56

about the snowball system,

2:58

you've developed a methodology

2:58

for doing this and high level,

3:02

what is that?

3:03

Yeah, so what we

3:03

wanted is we wanted to have a

3:06

comprehensive system for

3:06

business development, literally,

3:09

I wanted somebody to be able to

3:09

grab that book, go through our

3:12

trading or grab the snowball

3:12

system and say this has every

3:16

single thing I need to be

3:16

successful. So it's over 92,000

3:20

words about double the size of a

3:20

normal business word book, in

3:23

it's got 30 or 40 different of

3:23

the most important scientific

3:27

citations. So what we try to do

3:27

in snowball system is give

3:30

somebody a comprehensive system

3:30

that's based on science, and

3:34

that this is the most important

3:34

part that is authentic. It's all

3:38

about helping other people. It's

3:38

about always doing the right

3:41

things for your clients and

3:41

prospects, just done in a

3:43

proactive way that happens to

3:43

grow your relationships and your

3:46

book of business.

3:47

And you have a bunch

3:47

of worksheets, I haven't pulled

3:50

those down yet, but it seems

3:50

really comprehensive. Talk a

3:53

little bit about the worksheets

3:53

and the need for those types of

3:56

things.

3:57

Yeah, so what we

3:57

find with business development

3:59

is it's complicated enough, you

3:59

just can't use metaphors all the

4:02

time and say it's like this, or

4:02

just treat the client right or

4:05

go to dinners, you know, you

4:05

need to think through it in

4:08

detail a little bit more. So

4:08

what we try to do with over 20

4:12

worksheets that accompany the

4:12

book is if somebody gets the

4:15

snowball system, and let's say

4:15

they're giving a speech, but

4:17

they want to, they're not doing

4:17

it for fun. They want to do it

4:20

in a way that generates new

4:20

potential clients. Well, there's

4:24

various steps to that. If

4:24

somebody asks for a referral,

4:26

there's four steps to that. If

4:26

somebody is offering their

4:30

content on their dime, to try to

4:30

try to woo a client help them

4:34

but also create interest or

4:34

create demand for their

4:36

services, their steps for that.

4:36

So what all the worksheets do is

4:40

they take every piece of the

4:40

business development system and

4:44

break it down into steps just

4:44

like any normal project would be

4:48

broken down into steps.

4:49

And some of those

4:49

initial steps that I caught this

4:52

morning listening to some of the

4:52

chapters were rituals and

4:55

rewards. Talk to us about those.

4:58

Well, it's super

4:58

important Carl, I know you You

5:00

believe in this to the the thing

5:00

about behavioral science and

5:03

habits that's an interesting is

5:03

we tend to do things that we get

5:07

immediate gratification for. And

5:07

I think the reason business

5:10

development is so hard for

5:10

people is man, you can work for

5:14

years, trying to stay in touch,

5:14

stay top of mind add value be

5:18

helpful to a prospect, and you

5:18

don't hear anything back or they

5:22

haven't been able to hire you

5:22

yet, or whatever. But you've got

5:25

to stick with it. So what we do

5:25

is in this, this is actually

5:28

throughout and especially near

5:28

the end of snowball system,

5:32

where we teach the very specific

5:32

ways to sort of hack your own

5:35

habits. So you can pull back,

5:35

focus on the things you can

5:38

control and reward yourself for

5:38

those. And if you continue to do

5:42

the right things week, over

5:42

week, we have various ways to

5:45

sort of hack your own habits.

5:45

But if you keep doing those

5:47

things, week, after week, you

5:47

will end up bringing in work.

5:50

But you've got to do that.

5:50

Because if you're waiting for

5:52

the universe to tell you You did

5:52

a good thing, you're just not

5:55

going to get it in this in the

5:55

world of business development.

5:58

And what are your

5:58

top few habits?

6:01

Gosh, probably the

6:01

biggest one that our clients

6:03

app, absolutely love is what we

6:03

call an MIT process. MIT, which

6:08

is a little code word we use,

6:08

that means most important

6:11

things. And the simplest way to

6:11

do it is to pick 15 minutes,

6:15

once a week, I'm a four o'clock

6:15

on Friday, eastern time kind of

6:19

guy, but other people choose

6:19

Saturday morning, Sunday night,

6:21

you know, Monday afternoon,

6:21

whatever, but you pick 15

6:24

minutes once a week, and you

6:24

pick three things that you want

6:28

to accomplish next week that are

6:28

specifically around bringing it

6:33

you know, they're gonna make a

6:33

big difference that are in your

6:36

control. And they're growth

6:36

oriented big, they're going to

6:38

make a big impact. They're in

6:38

your control. They're growth

6:40

oriented. So you pick three

6:40

things once a week. And then you

6:44

measure if you do those three

6:44

proactive, helpful things every

6:47

week, you do three weeks, it's

6:47

about 150 a year 1500 over a

6:50

decade. And that adds up and

6:50

builds momentum over time.

6:54

Now the snowball

6:54

system, when I when I saw that

6:57

title, I was thinking of my life

6:57

as head of business development

7:01

for a law firm. So I've been out

7:01

doing habits, I guess I didn't

7:05

think of him in these terms, but

7:05

doing these things that you talk

7:08

about in your book over, you

7:08

know, 20 plus years. And what's

7:13

happened is my network is is

7:13

really snowballed. I mean I it

7:17

if I could just get through my

7:17

emails in a day, there's there's

7:20

gold in my, in my emails, right?

7:20

And so it's like it's snowballed

7:24

over the years. And now it's

7:24

almost out of control.

7:28

Yeah, and that's

7:28

because you've, you've built

7:30

that momentum. There's a bunch

7:30

of research on psychological

7:34

momentum, Dr. Sipo. So he saw a

7:34

whole is probably the most my

7:37

favorite, he study sports

7:37

psychology, and we can apply his

7:41

learnings to business

7:41

development, there's a lot of

7:43

similarities in the super quick

7:43

version that you're now reaping

7:47

the benefits of Carl, is that if

7:47

what a lot of people do is

7:50

they'll set really big lofty

7:50

goals, like I'm gonna go run a

7:53

marathon and they got the first

7:53

weekend and try to run 10 miles

7:56

Well, they end up really sore

7:56

and they quit. But what doctor

8:00

so hola finds is that actually

8:00

setting your initial goals very

8:04

small, but doing them

8:04

consistently over time. And then

8:08

as you build that skill, you're

8:08

able to handle more of a load to

8:11

your point now where the leads

8:11

in the business comes in and

8:14

just drops in your lap. Because

8:14

you've had the right habits for

8:17

so long, you've been focused on

8:17

helping others you've been

8:20

proactive. So that's sort of the

8:20

end game for folks. But how they

8:24

get started just doing three

8:24

simple things a week, but never

8:27

missing a week.

8:28

Now, when you were

8:28

starting out in setting goals,

8:31

give us an idea of some of the

8:31

types of goals you've set for

8:34

yourself, what are those look like?

8:37

You know, I can

8:37

remember one specific time I

8:39

flew to Denver to meet a client

8:39

and I flew back, we had a we had

8:45

meetings all day, you know,

8:45

breakfast and throughout the

8:47

organization, things like that

8:47

it was a CHRO of a big

8:50

organization that we called on.

8:50

This is back when I worked at

8:53

the big HR consulting firm, in

8:53

my goal was to come back from

8:57

that meeting with so many

8:57

things. To do that it would fill

9:01

up my entire flight back from

9:01

Denver to Atlanta, and

9:04

accomplish that I was typing the

9:04

entire time long email that was

9:09

about introducing our head of

9:09

talent to her to his he was

9:12

willing to do something on his

9:12

dime in a way that would be

9:14

helpful her and and to do this

9:14

to set up an HR strategy project

9:18

that we were going to do our

9:18

dime on our dime to to help her

9:21

move forward. Almost everything

9:21

in that email was on our dime.

9:25

But it pulled in almost every

9:25

single practice area we had at

9:29

the firm, which is a billion

9:29

dollar consulting firm at the

9:32

time. So it was literally dozens

9:32

of introductions I was making to

9:36

help her accomplish her goal and

9:36

introduce her to some of the

9:39

best talent that we had all over

9:39

the world. And I can remember

9:42

sending that off. And somebody

9:42

replying. It was on the you

9:46

know, one of the people involved

9:46

and said this is exactly what

9:48

folks should be doing in this

9:48

role. I was 100% focused on

9:52

helping her and I wanted to do

9:52

it so much. I'd be busy for an

9:56

entire three hours typing it all

9:56

up, and I and that turned turned

10:00

into just millions and millions

10:00

of dollars of consulting work.

10:03

But it wasn't focused on selling

10:03

it was focused on helping. Carl,

10:07

is that where you were going?

10:08

Absolutely! that's

10:08

my whole focus to doing this is

10:12

I never sell, I'm always I'm

10:12

always helping. Sometimes I have

10:15

to remind people what I do sell,

10:15

so that they don't take

10:20

advantage of me, but, but that's

10:20

my whole focus. So another thing

10:25

that you talked about early on

10:25

in your book is prioritizing

10:28

relationships. And so when I,

10:28

when I first started listening

10:32

to that part, I was thinking

10:32

about early on in my Business

10:36

Development Career, I was at

10:36

Price Waterhouse Coopers and I

10:39

was burning the midnight oil, I

10:39

would, you know, do events late

10:42

at night, and I didn't, I hadn't

10:42

figured out how to organize my

10:46

life. I was doing emails in the

10:46

middle of the night, and I was

10:49

30 in the

10:49

morning, breakfast the next

10:51

morning, and I realized this is

10:51

not sustainable. And, and so I

10:55

figured out that there were like

10:55

four other people in the

10:58

marketplace, that four or five,

10:58

that if I just got on the phone

11:01

with them each week, and shared,

11:01

shared leads with them. I never

11:06

had to leave my office. But

11:06

those are the types of

11:08

relationships you're talking

11:08

about, or is it different?

11:11

No, you nailed it.

11:11

It's almost like a lot of people

11:14

feel like just the more people

11:14

that keep up with the better.

11:17

But the problem with that is it

11:17

doesn't allow any depth for the

11:20

most important people. So we can

11:20

tie back to our our adult

11:23

fraternity days if you if you

11:23

won. If you're a top 10 chapter

11:27

in the country, there was an

11:27

award called the Hugh Shields

11:30

Award. And there was one word on

11:30

it other than our Greek letters,

11:33

and it was protomous. And I

11:33

worked really hard as a as a

11:38

chapter president to win that

11:38

award. When when I was in school

11:41

right around the time you were

11:41

in that protomous word is Greek

11:44

it means First Among Equals,

11:44

it's going to tie back to the

11:47

relationship idea. So one of the

11:47

tools in the snowball system is

11:51

called a protomous list, who are

11:51

your first among equals when it

11:54

comes to relationships, and what

11:54

we find in our, in our practice

11:58

of now we trained over 15,000

11:58

people that for most folks,

12:02

having eight or 10 relationships

12:02

that are your a number one

12:06

relationships that you're going

12:06

to make sure you proactively

12:09

help them at least like once a

12:09

month, and you're going to have

12:13

an outreach to them, you're

12:13

going to do something helpful,

12:15

you're going to personalize it, you're going to make it all about them. If you focus on

12:17

eight or 10 relationships, for

12:21

most professionals, that's

12:21

enough to just blow the doors

12:24

off their book of business. And

12:24

it's to your point, it's far

12:27

superior to go deep with the the

12:27

ones that are going to have the

12:32

biggest impact than just try to

12:32

react to everybody who comes to

12:36

you. If that makes sense.

12:39

No, it does. Most of

12:39

my time is I'm in reactive mode.

12:43

Fortunately, they're all good,

12:43

good. You know, it's no longer

12:47

have the five a relationships,

12:47

I've got, you know, hundreds of

12:50

them. But it's hard to it's hard

12:50

to manage at this stage.

12:53

So to point out

12:53

something there. That's because

12:56

you're you're now achieving at

12:56

such a high level. In a lot of

13:00

times when people start out they

13:00

think oh, I should do what Carl

13:02

does he you know, he keeps in

13:02

touch with all these people.

13:05

That's not the place to start,

13:05

we want to start with eight or

13:07

10 really, really great ones.

13:07

And people that could really

13:11

bring a lot of business your way

13:11

whether they do business with

13:13

you now. And then as you do that

13:13

over time, you start to get to

13:17

the point where you are now.

13:18

Yeah, it's

13:18

unpredictable, where the next

13:20

big clients gonna come from, I

13:20

found them coming from the

13:23

strangest of places or places I

13:23

don't expect them to come from

13:27

just because I've managed to

13:27

stay loosely in touch with

13:30

somebody. I don't I mean, this

13:30

is not this is not these are not

13:33

people I have lunch with, you

13:33

know, every month. These are

13:35

people I you know, can I connect

13:35

with on LinkedIn, and I may, you

13:40

know, wish them good wishes and

13:40

get a new job or have a birthday

13:44

or something like that.

13:45

Yeah

13:46

Yep. So So another

13:46

thing you talk about is target

13:48

lists. What is the importance of

13:48

target lists? And how does that

13:51

work?

13:52

Yeah, the key here

13:52

is that a lot of professionals

13:54

don't, I was just I was just

13:54

doing a session last week on

13:58

this, but a lot of professionals

13:58

don't get really clear on who

14:01

they're for. And then that puts

14:01

them in reactive mode. So if

14:06

you're a lawyer, and you really

14:06

focused on big pharma companies,

14:09

because you've you filed

14:09

patents, you're a chemical

14:11

engineer, and a JD and all these

14:11

other things. Well, there's

14:15

there's some specific

14:15

organizations that if you got in

14:18

there, I could just keep you

14:18

busy for decades. And having a

14:21

real defined list typically

14:21

three things that define your

14:25

perfect client. And writing

14:25

those down usually takes about

14:29

30 minutes. If you read snowball

14:29

system, there's a specific

14:32

process to arrive at these

14:32

three, three things. But you

14:36

want to get a really clear list

14:36

of the determinants or the sort

14:39

of the things that correlate to

14:39

your perfect clientele. Once you

14:43

know that you can steer

14:43

everything to meet those people,

14:47

your LinkedIn updates, you're

14:47

engaging online content,

14:50

content, you're the speech that

14:50

you're going to give it the HLA

14:54

conference, you know, virtually

14:54

or whatever. But once you're

14:57

clear on who you're for, then

14:57

you can get clear On what

15:01

content you create in for whom?

15:01

And how do you get in front of

15:04

the right people, and then

15:04

everything's aligned. And what a

15:07

lot of professionals do is

15:07

almost the opposite. They just

15:10

do stuff and hope that the right

15:10

people will see them. But the

15:13

problem with that is that people

15:13

see, it might be more, they

15:16

might view your work more as a

15:16

commodity, it's not the meaty

15:19

stuff you really want to do. And

15:19

a lot of times, there's a lot of

15:22

effort without a lot of return.

15:24

Alright, so up till now, we've been kind of down in the weeds with with how this

15:25

stuff works. And that's great

15:28

for the person who's out in the

15:28

marketplace already. And doing

15:31

it. But I mentioned to you

15:31

before we got on the on the

15:34

recording, there are some

15:34

students that listen to this

15:36

podcast, college students, even

15:36

high school students, and what

15:40

would you besides reading your

15:40

book and listening to your

15:42

podcast and maybe taking one of

15:42

your courses? What are some

15:44

things they could be doing to

15:44

prepare themselves to be able to

15:47

do what you've done?

15:49

Oh, that's awesome.

15:49

Well, you know, I'll give a

15:51

little free thing that people

15:51

can do, it's even cheaper than

15:54

the book because it doesn't cost

15:54

anything. And it's a there's a

15:59

free course we've got called BB

15:59

habits calm. So if people go to

16:03

beat V for business, and D for

16:03

development, so BD habits calm.

16:06

If people go there with a

16:06

student, a high stakes,

16:09

litigator, anybody in between,

16:09

there's a little series of

16:13

videos that accompany that, that

16:13

course. And it takes a couple

16:17

hours to go through the content,

16:17

it's got free worksheets, it's

16:21

got me giving the How to the

16:21

focus on this, avoid that kind

16:25

of pro level tips. In to your

16:25

point, Carl, somebody that's a

16:29

student, they don't have a lot

16:29

of cash, you know, their drink,

16:32

they're eating ramen noodles

16:32

every night, they can go out to

16:35

that bat habits calm course. And

16:35

it is really phenomenal, we

16:38

packed a lot of value into it,

16:38

and they would be able to get a

16:41

really good way to start

16:41

focusing on the things that they

16:45

want to accomplish. It's called

16:45

those opportunities, they get

16:48

really clear on who their

16:48

protocol list is, who are the

16:50

relationships that that they

16:50

really want to invest in. And

16:54

then the major part of it is

16:54

then lining the habits behind

16:58

that. So you're always focused

16:58

on proactively building the life

17:01

you want. And those kind of

17:01

things are every bit as true for

17:05

somebody that's a junior in

17:05

college as they are for a high

17:08

stakes senior partner litigator

17:08

that's trying to build his or

17:11

her book of business.

17:12

Well, thanks, Mo. That's a great takeaway. And I thank you for joining me today

17:14

on Rainmakers. It's Mo Bunnell,

17:18

CEO of the bundle idea group and

17:18

author of this Snowball System.

17:22

Thank you.

17:23

Thanks, Carl.

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