7 Reasons to Work with A Business Development Expert
Updated: Apr 19
You have a company, and you want to increase your sales while improving client management, marketing, business practices, and finance. This part is the same for all businesses, right? However, there is a difference between the companies that work with business development experts and trying to handle it with in-house sources.
Today we will look at the seven reasons why your company may need a business development consultant. If you are ready, let's begin!
1- A business development expert’s perspective is usually better than yours!
You have one business that you want to fit in the market in the perfect shape. But an expert has dozens of them with a lot of different ideas to help you. Having a business means you are spending for and earning from your activities in a period, the difference between these two is your profit. Higher profits, as desired, are possible with better business development ideas. And business development consultants are experienced in analyzing the company to provide the best options for your goals. This is something like seeing the big picture. While your efforts are divided into different areas with your business, they can see the overall process with pros and cons to target the key factors to change or improve. This is their job with years of experience and knowledge from different company structures.
2- You can work with them on an on-demand basis instead of paying a salary and benefits!
If you are not assigning the role of “Business Development Manager” to one of your talented employees (which most of the start-ups do!), you will need to hire a new team member for this position. Wait – hiring? It would be worth double-think about it the salary, benefits as much as 35-50% of salary, training, etc. Instead of hiring a business development manager, having outsourced on-demand support from experts that are guaranteed with the success sounds more feasible and beneficial.
3- You need a business development plan – probably a pitiless one!
A business development plan is a MUST for your company to describe the objectives and the way(s) how to achieve them. You will need to goal, cost management systems, targeted milestones. All steps should be strong but at the same time flexible enough. And more importantly, this plan should be generated, optimized, and improved by an expert for maximum efficacy.
4- Your company competes better with professional SMART goals!
SMART goals are basically what the acronyms from the name suggest. It is Specific, Measurable, Attainable, Relevant, and Time-bound. The SMART goals add 75% more success to achieve the company goals. Think about 75% overall success in your business! Again, instead of acting ‘box in’ to see the overall goals, working with an experienced consultant would be the key point to see and drive the big picture.
5- If you don’t know how to prioritize or narrow your product/service and sales channels, they know it!
Not only for business, sometimes in our social life we face some challenges between multiple options, tasks, or targets. As it is suggested by psychologists, breaking the issue into the pieces, and handling them one by one is generally the best solution. It is very similar to the solution in business. If your company is overwhelmed with multiple channels or opportunities, you just need to prioritize them and narrow your channels. To hit the high margins with the best value propositioning is the job of business development consultants.
6- Right and strong communication is the priority to move forward!
To manage a company is also like managing a family. You need to be alert for any danger while you are enjoying what you are doing. You need to teach while you are learning from a new generation. Also, you need to have respectful communication in a strong but right tone to manage the relationship. While you are focusing on your yearly revenue, it might be difficult for you or any of your company workers to catch the right communication tone to be on the same path. One of the jobs of a business development consultant is to develop the correct management style between the departments, even between your sale or service goals and plans. Thus, everybody knows its value and tasks better which leads them to better teamwork and brilliant financial results.
7- It may be the right time to learn about alternative ways to run your business!
Even short- or long-term in the business, sometimes all of the companies just need to change the alternative ways to dig in. Business life is like a living organism. The needs, focus, costs, and drives are changing. Why don’t we add some alternative ways to run the business? The most important deal here is protecting the core values while adding alternatives and preparing SMART steps for the smooth transition – which, again, an experienced business development consultant can do for your company.
The right ‘business development experts’ have the capability “to understand your business”. They can help you by developing the ideal customer profiles and buyer personas while developing the correct and flexible strategies and channels. They are talented in SWOT analysis and in understanding the current state of the overall industry along with growth projections. They are the source for you to learn about new and unexplored market opportunities and the cost areas for possible options in cost savings.
Thank you for reading this blog – we are excited to hear from you!