Advice needed, should I hire a business development manager?

by hoy83. Posted on Sep 17, 2020    5    5

Hi, I'm running a small family business and it's done well so far. Mainly we are supplying our products nationwide in our country, mostly to retailers and some end users. I was thinking what I could do more to improve our business. I want to create more profit, but I'm not quite sure how I could do it. I was thinking of hiring a business development manager, this is my first time to have experience with people like these and wonder if it would be any benefit for my business to invest in one? Will they have the aptitude and skills to expand our business and improve our profits or the bottom line? Does anybody have any experience with them? Are they worth it? If you don't think I should hire one, what kind of specialist do you think I should hire to improve our business? We are only just a small business but I'm hoping I can make it bigger in the future. Any input would be appreciated, thanks in advance.


Windigo4 1

I work within the sales division for a huge company. Sales people go by the names “Business Development Manager” “Account Manager” “Sales Director” “Territory Manger” “Sales Executive” “Region Manager”... it’s all fancy ways of saying salesperson. At my company, that first term really more indicates lots of cold calls vs some of the other terms which are dealing with established customers.

Will a good salesperson lift your sales? Yes.

How do you find one? Have them present any product or service they want to you and ask hard questions back and compare the responses. Don’t trust their resumes.

BizCoach 1

Business development is not a generic term. The thing means different things in different companies. Usually it's another name for sales - but sales that involve longer term partnerships.

If you want more profits you can either get more sales or reduce costs or both. Sometimes if you just need a bit more profits cost reduction is the better way to go. Depends on the gross margin of your product and the cost and time of ramping up sales.

Before you hire a sales person (or biz dev person) and expect them to work miracles, make sure your marketing process can generate enough leads, and your sales training can get them up to speed quickly. In my experience, most smaller companies don't have robust processes for these that can be easily scaled. So they are better off investing time and money converting the internal wisdom of how to sell into processes that can be scaled. Sometimes a consultant or coach can help with that. Just be sure the scope of work is well defined.

Vast_Cricket 2

I will only look for people well connected in your line of business as a consultant paying per diem. You are not looking for a CPA or efficiency expert. You are looking for someone to provide opportunities to buy another business or expanding your sales volume doing something on line sell direct etc.

The real management consulting company wants to milk as much hours with little to offer.

  hoy83 1

what exactly does a management consulting company do?

Vast_Cricket 1

doing what you described. More for big firms.