Are you looking to hire a BDM for your firm?
Are you looking to be a Business Development Manager?
Either case, this is for you.
What it means is organisational financial growth. and, to cut to the chase, you would start by identifying new leads, new business opportunities, a new market to conquer, a new partnership and new ways to reach the existing market.
the need for A business development manager
The need for a Business Development Manager is rising in every industry, almost in every sector.
As the organisation ramps up its efforts to gain market share and expand – your role stands alone as the combination of strategic analysis, marketing and sales with the objective to grow the company’s business by establishing new partnerships and increasing sales from existing accounts.
Simply put it – your job would be bringing revenue.
I’ll walk you through the top-five spots-on qualities you should practice for becoming a Business Development Manager.
1. Are you a Salesperson?
This is beyond your ability to close accounts and meetings; your confidence must shine, and your strategic planning must be spot-on.
Understanding the industry – its insights and technicalities upfront will put you on top of the race. You could start by participating in exhibitions and conferences all the way to nailing those cold calls and incoming leads.
One must be a sales expert to take the lead as business developer.
How are you with the I.P.C. technique?
This is the oldest one in the books – Identify, Pitch, Close.
- Identify the problem, competition, market, ext.
- Pitch your solution
- Close the deal
Do you tailor your sales pitch?
Do you leverage Social Media into your advantage?
Is your email list polished and updated?
2. How’s your Time and Team management skills?
This includes your ability to say NO without justifying yourself. When was the last time you did that? Did you have a reason?
Your line of communication must be open always. By doing so, you are following one of the PCM techniques without even realizing.
Your role won’t be always smooth sailing, especially at the beginning of your first career – it is likely that you will be purely responsible for your work, and your duty will also be to inspire, lead and motivate your team.
Turning your key tasks into habits makes you work smarter rather than harder.
Ask your self these three questions;
- Are you a problem solver?
- How do you manage your time?
- How do you resolve internal conflicts?
3. Understand how Growth Marketing works
When a customer becomes a customer, your product becomes publicly affiliated and emotionally invested in your customers.
This means your customers actually love your product and there is lots of retention and engagement even at small numbers.
Growth encompasses sales, customer success, retention, your product value and more – these are some elements of what we know as growth, and marketing is its step-brother.
At the core, marketing is lead generation. Ads drive awareness…to drive sales. PR and publicity drive attention…to drive sales. Social media drives communication…to drive sales. Marketing, too many people forget, is not an end unto itself. It is simply getting customers. And by the transitive property, anything that gets customers is marketing.
– Ryan Holiday
Let’s start with these three simple tactics:
- Is your product great?
- How do you visualize it? Do you have a demo-video that drives early adopters?
- What is your viral hook that encourages existing users to evangelize on it?
4. Be Real!
Let’s face it. You are not superman.
Don’t be tempted to continue down the path with all the pressure on you.
You do not assume the role of Business Development Manager while there is a room for flakiness in your leadership style.
Go back to point No. 2 and answer the three question again. This time make sure you are being honest with yourself.
You need to slow down in order to speed up.
5. The bits and pieces
Understanding how your role affects your organisation is one thing and getting the best of your role is completely another thing.
I love the social aspects of a BDM where I constantly meet new people, building great relationships, becoming that trusted adviser in the industry.
I get to visit conferences and participate in workshops – the key here is to practice your sales skill every minute.
While coordinating, meeting and getting those new leads, you gain the knowledge of learning something new every day while still represent your firm in the best of you.
Get out there.
Show yourself (Your firm)
Close those meetings hard!