Business Development (BD) positions are rare in that they have the potential to make an impact on the success of an organization. A significant investment is required to hire a new BD employee. After a hiring decision has been made, it is necessary to invest even more time and money to help the individual build relationships and qualify for future opportunities. This investment can last for years. This is why many hiring teams feel like they are searching for a gem in the rough.
It is difficult to predict how a BD candidate will perform within the role. BD personnel can fit into any of these categories, regardless of whether they (or you!) realize it. It is crucial to understand where your new hire falls within these categories. This will ensure their success in their BD role and your ROI.
Revenue makers are early shapers. It is almost a fact that there will be fewer opportunities in the current economic environment. Shapers engage ethically with their clients to make changes that are in the best interests of their companies. The concept of Shaping is not new and has been a focus of many BD professionals for many years. But very few people have taken the time and learned how to shape opportunities during the OI&Q Phase. The best Shapers gather intelligence early on and work with prospects to create chances.
Beware of fakers. These people have impressive resumes with glowing testimonials. Start asking hard questions to find out if they are really active but never close the deal. Fakers can be difficult to spot unless an organization has invested significant revenue and time in seeking out opportunities. They are experts on the chance but have had little interaction with prospects. It becomes more challenging to reduce the loss at this point. These people are skilled at finding the next “great opportunity”; they “drink their bathwater,” spin data, and believe that what they have is genuine. You will find that these individuals rarely have high-quality human intelligence that can be used to make objective, critical pursuit/no-pursue decisions.
Order-takers are either a tremendous asset or a liability depending on the role they play. They can be a problem in a primary BD position. They will prefer to wait for clients to call, and they will often become too busy with administrative tasks to engage clients. When they are able to proactively grow the projects and generate additional revenue, good order-takers can be a great asset. They pay overhead but struggle to increase their revenue in this new environment.
When you are looking for your next BD Professional, be sure to know how to distinguish the fakers from the shapers.
MB is solely focused on Revenue Generation and Business Development. We:
Business Development Organizations that are built integrated and turned around
We specialize in Turn-Key Business Development Assessment & Implementation
Plan and implement strategic and tactical business development plans
Assess and source business development leaders and teams
For guaranteed revenue growth, design, build and implement business development processes
Design, Develop and Deliver Business Development Curricula