Business development professional and entrepreneur Terry Rice has innovated systems and propelled growth for brands like Adobe and Meta. As managing director of Growth and Partnerships at his agency, Rice is hosting and organizing the HeyCreator Summit — a unique opportunity for creators to learn from the best minds in audience growth, content development, and business development.
In a dynamic conversation with BLACK ENTERPRISE, Rice shares valuable insights on creating high-performance routines, cultivating an exceptional mindset, balancing ambition and realism, and the importance of networking for business development. Rice’s advice derives from extensive business experience, offering practical advice for entrepreneurs, creators, and professionals seeking to elevate their businesses in the new year.
Create High-Performance Routines:
In the days and months of fast-paced personal and professional business development, it is easy for many of us to fall into undesigned routines, losing focus on the goals we set out to achieve.
“One of the easiest ways to become a high performer is to define what high performance is,” Rice explains. “Is it getting good at creating content, getting in shape, or being more patient with your children?”Emphasizing the significance of defining high performance and tailoring business development routines to align with specific goals, Rice suggests blocking off dedicated time on the calendar for activities essential to one’s goals.
Using a personal example, he explains, “One of my goals is to get good at leveraging AI and automation to build companies. I block off four hours every week on my schedule to learn practical applications of how to use AI and automation for business development.”
Develop an Exceptional Mindset
In today’s landscape, a growth mindset alone isn’t enough because one must have a vision for why they are putting in the hard work. Creating a clear vision of the ideal future goes beyond just financial goals to drive growth. Rice introduces the concept of “living your legacy” as a personal philosophy, encouraging individuals to embody the traits they wish to be remembered.
Balance Ambition and Realism
“Mindset is something that you do,” he explains. The point of having a growth mindset is being willing to take on challenges and learn new things, even if they feel difficult.” He stresses the importance of a vivid vision, sharing, “see it all so clear that when you see opportunities to live in that vision, even if it’s challenging, you are going to push through.”
A delicate balance exists between ambition and realism. While dreaming big is encouraged, finding role models or mentors to reverse engineer business development success is crucial.
Rice suggests tethering thoughts and ambitions to reality and learning from role models. “You gotta tether your thoughts and ambitions to reality,” he says. “Find a role model, a mentor, or someone you can look at and say, OK, that person’s already doing it.”
Celebrating small wins and appreciating the journey can mitigate this effect, ensuring sustained satisfaction on the path to success.
Embracing Innovation and Networking
As the business landscape constantly evolves, continuous learning and adaptation are necessary. Drawing from experience, Rice says, “Spend time each week learning practical applications relevant to your industry, especially focusing on emerging technologies like AI for business development.”
When it comes to networking, Rice advocates for a proactive approach—give first before asking. He advises, “Give first by identifying 10 or 20 people you want to have in your network and think of a problem you can solve for them.”
He further emphasizes the need to nurture connections regularly: “Don’t forget to nurture your network. Spend at least an hour every week revisiting people in your network without needing anything from them.”
RELATED CONTENT: 6 Books To Help Build A Business You Can Bank On