Responsibilities of a Business Development Manager

Business development encompasses a number of activities, techniques, and strategies designed to improve efficiency and increase productivity in a business organization or firm. Professionals involved in this process of development play an integral role as they help grow an economic enterprise. Some of the various techniques and methodologies used by these professionals are marketing assessments, learning about competition in the market, generating leads, follow-up sales activity, research on target markets, and evaluation of business potential.

When appointed as a business development manager, the duties and responsibilities dramatically increase. The entire load of promoting the business, improving credibility, and increasing productivity is laid on the shoulders of the manager. He or she has multi-task roles to play in such a situation. Some of the most important responsibilities of a business development manager are as follows:

• Investigate the economic conditions of the market.

• Research on the financial issues and bring out an appropriate solution.

• Learn about the latest trends and the growing competition in the market.

• Prepare a perfect business plan in accordance to the set goals and objectives.

• Maintain financial records of the company and stay within the proposed budget throughout the life of the business.

• Improve networking with other renowned businesses in the market.

• Strengthen customer base with commitment to quality issues and high customer satisfaction.

• Learn about the expansion of other companies in the same field of business.

• Motivate employees and push to work more efficiently and logically.

• Understand the needs and requirements of the business growth plan.

• Learn about the strengths and weaknesses that someway or the other impact growth potential.

• Develop innovative techniques and adopt new strategies to keep pace with the advancing business world.

• Explore new opportunities to achieve profit targets.

• Learn about new marketing tactics and implement the same for marketing specified products and services.

• Negotiate with clients and customers to enjoy higher profit margins.

• Ensure smooth functioning of all business operations within the organization.

To know more, check Business Development Manager.

How to Make Time For Legal Marketing and Business Development

One of the chief complaints I receive from the attorneys that I meet and work with is that they just don’t have time for legal marketing. While billable hours, day-to-day emergencies and time outside the office all add up, there are definite ways to go about making time for legal marketing and business development. The key is to think of it as an ongoing habit, not something to “make time for.” Rather than seeing marketing and business development as a burden, think of it as an integral part of your day-to-day life. The interesting thing about creating this kind of habit is that once you find the right system for your individual lifestyle it should simply become second nature.

The benefits to making time are numerous. Aside from building relationships with potential clients and referral sources, taking advantage of marketing and business development opportunities can help increase your visibility AND credibility in the legal arena and beyond. Writing articles and participating in social media help you create and build a personal brand-something that every lawyer should have. True dedication and time commitment can even bring you recognition as an expert in your chosen practice area or within a specific industry.

Below are a few suggestions and lessons from attorneys I’ve worked with, as well as my own observations and experience. Choose the path that make sense for you or adapt the suggestions to work within your own day, but give it a chance. Do something! The rewards you will reap are far greater than a 5-minute time commitment.

  • Multi-task. No one I know comes into the office and immediately gets to work. One solution to the time crunch is to fold your marketing and business development efforts into your morning routine. As you sit down to your desk with your morning coffee or tea (or breakfast…) browse through your contacts or referral lists and send a few emails; read a legal marketing blog; update your social media or even spend 10 minutes working on a potential article or speech. By 9 am you’ll have accomplished something solid and can focus the rest of your day on other endeavors. Alternately, you can do the same thing during a quick lunch at your desk or coffee break. You’d be surprised how far 10 minutes can go.
  • Save it up. One attorney I know has created a special folder in her email Inbox specifically for legal marketing emails. As the weekly or daily updates from the blogs and social media groups she subscribes to come in she simply directs them to the folder. Then, once a week she takes an hour out of her day to read through the week’s emails and respond to them accordingly. She’s able to keep up to date on legal marketing news and colleague updates, post articles and communicate about possible speaking engagements without disrupting the flow of her day.
  • End your day. A colleague of mine channels his efforts into work all day but integrates marketing into his nighttime routine. With the stresses of the day (and impending deadlines, phone calls and emails) over, he sets aside 15-20 minutes a night before bed to investigate marketing leads, send emails to potential referral sources and work on articles and social media.
  • Schedule it in… for the first month. If all else fails, treat legal marketing as a literal client. Put it on your schedule and make no excuses for not paying attention to it, just as you would a client. Whether it’s once a week or biweekly, set aside specific time for uninterrupted focus. After the first month I can guarantee that finding time for business development will feel effortless.

Simple in theory but never easy in practice, without a true commitment you can never reap the rewards of a solid marketing habit. Filling your pipeline with work, receiving recognition as an expert and gaining credibility and visibility won’t happen all at once, but you can be sure they will happen. Just as with any other endeavor, it takes focus and time to see results.

Team Building For Business Development

To remain competitive and secure in the new economy, it is imperative that companies communicate to their employees the critical importance of proactive branding, marketing and business development. It is essential that Managements outline corporate sales objectives and needs thus creating an innovative business development atmosphere amongst all team members. The new corporate culture builds the team for “exciting-times ahead” by communicating the key strengths, opportunities and competitive advantages of their company by first ensuring that all stakeholders are “on-message”.

An astute business leader will subsequently promote branding, marketing and business development activities as factors vital to establishing the “next growth level” of the company. A well-defined brand experience, the creation of a strategic plan, addressing areas of improvement, identifying competition, and segmenting internal and external target audiences are critical components for continued success. Ultimately, all team members are to externally “transfer this knowledge” to clients, suppliers, prospective customers, community, and, of course, to their families. The number of sales people working on business development must directly reflect the number of employees in the firm, e.g., a 100-person firm has 100 business development people. In the new economy, the act of “team selling” is no longer a “luxury” for a select few but a critical “necessity” for all.

Five Key Steps to Creating the Brand Strategy, Building the Team Spirit
and Launching the Brand Experience:

Strategic Research and Planning

o Mission Statement Development
o Vision Statement Development
o Business Planning
o S.W.O.T. Assessment
o Competition Analysis Assembly
o Risk Assessment Review

Sourcing Your Competitive Advantages

o Unique Selling Proposition Construction
o Brand Experience Program Creation
o Sales and Marketing Planning
o Product and Service Lifecycle Investigation
o Sales Team Building
o Corporate Sales Scripting

Allocating Time for New Business Development: Just One of The Challenges Facing Busy Entrepreneurs

How do you allocate time for new business development? It’s the bane of many entrepreneurs and small business people. “I am so busy with my current projects that I don’t have time to drum up new business.” I know exactly what they’re talking about. I remember a period where I had so many writing projects on the go that I did no marketing. I just waited for the business to come in. The problem is that unless you market yourself, the business can slow to a trickle, regardless of the previous complaints that you have:

  • Too much work already
  • Not enough time to do anything else
  • Not enough money to spend on proposals that may not pay off

I completely understand. Understanding, however, doesn’t get you anywhere, so let me make some suggestions to keep the business coming.

The first suggestion is that you dedicate some time to new business every day. It need only be half an hour, but whatever time segment you decide on, lock it in. Just put everything aside, hold your phone calls, shut down the cell and leave your e-mail alone. Next, do the following. Get yourself one of those small digital timers, punch in the time segment you’ve chosen, then, turn the timer away from you so you can’t see it. Now, focus on the work at hand.

During this time segment consider what new business you want to get into, or actually work on a new business proposal. What you might also do, and this will impact your own staff, is get the staff to join you in your sessions; and plan a session at least once a week, and brainstorm new ideas. Who better than your own staff to carry out this activity in search of new business? And encourage them to look for business opportunities that you may be unaware of through networking, or contacts they have with friends and associates. Even submit a speculative or unsolicited proposal to a client.

Here’s an idea I really like. It comes from Verne Harnish, CEO of Gazelles Inc, an executive education firm. Verne suggests that you should stop eating alone. Verne’s experience is that in one year, living in Barcelona, he built deeper business, social, and political connections than in ten years living and working in Washington DC. What could you do if you were to meet someone different even a couple of days a week? You might not generate new business immediately, but the payoff down the line could be substantial.

I understand that cash flow can get in the way of such activities. I appreciate that the current projects you’re working on have stringent timelines. In fact you’re probably working a 60-hour week. But don’t let that get in the way of allocating time for new business by pursuing practical ways to make it happen, even on your busy schedule.

Abstract: Busy people often get too busy and fail to continue marketing themselves. Small businesses, like consultants and training companies, often find themselves in this situation. This article looks at the issue and suggests some practical solutions. It’s up to you to follow up on them.