Discussing the Business Developer Resume

The Business Developer is a very crucial role in a company’s growth and thus is a pivotal position within it. It is a managerial position usually assigned to existing senior managers or dedicated business developers with a proven record. Perhaps there is no position in a company as challenging and therefore it is amply rewarding from the point of view of both job satisfaction and money.

Key Responsibilities

The key responsibility of a business developer is to attract new customers and penetrate existing markets. For the purpose, he assesses marketing opportunities and targets markets, gathers intelligence on customers and competitors, generates leads for possible sales, advises on drafts, implements proper sales policies and follows up sales activity with a review and appropriate modifications. He also drafts formal proposals and prepares presentations regarding the identified sales opportunity and develops a proper business model design. The business model involves evaluation of a business and then realization of its full potential using tools like marketing, information management and customer service.

They may follow one of two models: sales-oriented (client facing) and operational function to support sales. In the sales-oriented or client facing role, the concentrates on developing strategic channel relationships or on general sales. It is an operational function to support the sales of a company is often made the responsibility of a separate functionary known as the capture manager, while they continue with finding other sales oriented leads.

Level of Education Required

They are professionals with qualification and experience in financial services, investment banking or sales. Many enter the area by climbing the corporate ladder in fields like operations management. Thus to be one must have a formal degree in business management with specialization in finance, investment banking or sales, along with considerable experience. They must be skilled or experienced in marketing, company law, strategy, finance, proposal management or capture management. The exact set of skills will depend on the business environment being dealt with.

Career Path

Since they are existing professionals with considerable skills and experience, one can’t acquire this position at the beginning of a career. So, future business developers must enter the corporate sector as junior level managers and go on to acquire skills and experience in areas like finance, investment banking or sales. At the same time they must continue to develop their skills in the area of business development. Once they feel confident enough to take up the challenge, they must enter the field at the right opportunity. The opportunity may be in their existing company itself or in some other company that is looking for business developers.

A business developer’s career is immensely satisfying and financially rewarding although stressful and demanding physically and intellectually. With continuing growth of the economy business developers are sure to be in increasing demand in the coming years.

Summary

When discussing the Business Developer Resume, it cannot be adopted as a new career, it is open only to existing managers and professionals. To become a business developer one must get a business management degree with specialization in finance, investment banking or sales and acquire relevant experience by joining a company as entry level manager.

The Avaya 5420 – A Great Small Business Phone Solution

When opening a new business, or moving to a new office location, there are many details that need to be taken care of prior to the official opening. Some of those details obviously include getting desks and computers set up. Less obvious, but still essential, is the phone system. If you don’t have a good phone system set up prior to the start of business, it can be a major headache trying to figure everything out. I only say this because I speak from experience.

When I first opened my own web design company a few years back, I thought I had everything in place – employees, desks, chairs, computers, internet connections…but wait. I had forgotten to even look into a phone system simply because we relied on the internet so much. I thought we wouldn’t be on the phone very much, but I was quite wrong.

I scrambled to find a phone system for my small business that would work well, yet be simple. I looked online to see which system had the best reviews, and to be honest, Avaya seemed to blow the competition away.

I quickly looked into Avaya to see what costs were, and who could install the entire phone system for a group of 15 people quickly.

Luckily, I found a distributor that would help us out last minute. He did a great job installing the phones, and getting everything set up for us. I decided to go with the Avaya IP Office, and more specifically, the Avaya 5420 phone. There are a lot of features that I love, such as the digital display of my speed dial list (no more writing names on paper!), and my favorite feature – the large display.

Having these phones in place for my employees has been great for us, and for business. I don’t have any worries about the system, and it’s been working really well. I’m pleased with the quality, and as my business has grown (we now have 30 employees), so has my phone system. It has scaled well, which has saved me the expense and stress over trying to find a new phone system.

My advice is to find a phone system that works well for you, and have it installed prior to move-in. Having your phones up and running in a new office or for a new business is essential, as I’ve come to learn, because it is a necessary means of communication for your clients, which are the most important part of your company, because they’re what keep you in business.

How to Take the Pressure Out of Business Development

One of the main reasons why salespeople fail in sales is their lack of attention to business development. Business development is integral to sales success yet many salespeople I have spoken to avoid or put minimal effort into prospecting activities. This in my opinion borders on sales call reluctance.

What is business development?

• Business development is about developing new business with both potential and existing clients
• A sale rarely happens on the first meeting. It requires multiple and varying touch points such as the phone, social media and email over a period of time
• Business development needs to be consistently implemented to maximize new sales opportunities and to create sales growth.

Creating new sales opportunities

The less you know about a potential client the more difficult it is to succeed in getting a meeting. Your targeted clients can be divided into:

• No Information – you know nothing about the organization and have no contacts
• Limited Information – you have some information about the organization but haven’t developed any contacts.

Strategies to connect with potential clients you have never contacted

• Use social media to gain information that you could use
• Phone direct once you have developed your value statement
• Use 6 degrees of separation – who knows who within your circle of influence who knows the potential client?

The ‘cold’ call

The term ‘cold’ has been used in sales for decades and conjures false thoughts and feelings. There is nothing cold about contacting a prospective client for the first time. It’s new but not cold so could I suggest you replace ‘cold’ with ‘new?’ Words impact on how we feel.

Words impact on how we feel

Salespeople often struggle and can become mentally immobilized when calling a potential client because:

• They put too much pressure on themselves to make the appointment
• They become self-centered instead of focusing on the client
• They become fearful of saying the wrong thing
• They have a push instead of a pull mindset
• They start selling when the client isn’t in the process of buying
• They use words and phrases commonly used by most salespeople
• They try to take short cuts.

Salespeople often start by talking about themselves and their company. For example, “The reason for calling is I’d like to set up an appointment to introduce myself and tell you about our new product/service”.

The attention needs to be on what is in it for the potential client. This is done by stating value from their perspective and can be measured. A value statement can be tangible and/or intangible that lets the potential client know what they can expect when using your product/service. Intangible value is not easy to measure, for example lower risk, sense of well-being and trust. Measures can be expressed as a percentage, timeframe, or in financial terms.

Measures can be expressed as a percentage, timeframe, or in financial terms.

For example, “We completed a project recently with a company of your size and reduced their overheads by 20% without losing one employee. Would you be interested in how we did this?”

Words that communicate value are and not limited to:

Improve, increase, reduce, downtime, productivity, operating cost, turnaround, maximize, minimize, downtime, save, eliminate, enhance, cut, gain and profit.

Success in business development requires persistence and consistency using a variety of touch points whilst focusing on stating value from the client’s perspective. This will provide you with the greatest opportunity to secure an initial meaningful conversation and a meeting.

Business Development For the Private Labeled Bottled Water Industry

The private labeled bottled water industry is exciting with tremendous growth opportunities and the ability for suppliers to offer their customers and strategic partners creative, effective advertising solutions.

But like any business, care is required to develop the business in a profitable way and the best way to do this is to establish a focused business development effort that utilizes the tools and techniques established by successful business.

The first step is to define the concept “business development”.

Definition:

Business development “includes a number of techniques designed to grow an economic enterprise. Such techniques include, but are not limited to, assessments of marketing opportunities and target markets, intelligence gathering on customers and competitors, generating leads for possible sales, follow up sales activity, formal proposal writing and business model design.

Business development involves evaluating a business and then realizing its full potential, using such tools as marketing, sales, information management and customer service. For a sound company able to withstand competitors, business development never stops but is an ongoing process.” (source: Wikipedia)

From this definition it is clear that business development is more than closing the sale and each technique requires detailed planning and follow up.

Using the concepts of business development, it is possible to establish a profitable private label water business but it takes considerable initial and continuing effort.

The following case study involve a fictional Bottled Water company that entered the private labeled bottled water business. For discussion purposes it will be called ABC bottler (“ABC”)

Unique Value Proposition:

An initial challenge is the development of a Unique Value Proposition that answers the question “Why should I buy from you”.

After a review of the market and the competition it was determined that private labeled bottled water was a powerful, cost effective, advertising vehicle but because a customer’s brand was affected, high product quality and customer service was required. ABC’s Unique Value Proposition was established and stated:

“ABC will provide powerful and cost effective advertising and brand promotion for its customers based upon the highest quality consumable private label water, label design and customer service.”

Marketing and Target Markets:

Field and internet research was conducted with the basic question being: What are the characteristics of industries are most likely to use our product at a price that is profitable to us. Key characteristics were developed:

  • Prospects that provide a quality product or service.
  • Industries operating in a competitive market environment where product/service differentiation was critical.
  • Prospects that required drinking water for customers, clients or prospects.
  • Prospects that maintained a quality brand image.

Initial research indicated that the following industries were initially high potential targets:

  • Hospitality (Hotels and Spas)
  • Banking
  • Mortgage Brokers
  • Real Estate
  • Ski Resorts

Sales Channels and Market Access:

It was decided that two channels would be used to go to market – direct selling and e-commerce. An e-commerce site was developed that allowed customers to design their own label for the bottles or provide an existing design consistent with the customer brand strategy. Search Engine Marketing and Optimization techniques were used to promote this channel.

A direct sales staff was formed to develop and close sales opportunities and these efforts were supported by a direct mail campaign and networking with local chambers of commerce, local trade associations and lead sharing groups.

The sales effort, after a series of initial false starts and disappointments matured successfully as we reviewed and revised the fine points of our effort.

Product Quality and Customer Service:

ABC’s corporate strategy for all products was to stay at the high end of the market and this was particularly true for private label bottled water where the market is characterized by cutthroat competition and many low quality vendors who are slashing prices and selling on price rather than quality.

ABC focused on three areas of quality:

  • Water purity – ABC used a steam distillation/ozonation process that guaranteed 99.9% pure water that tasted delicious.
  • Label Design Quality – ABC used an in house professional designer to guarantee label design quality.
  • Label Print Quality – ABC used laminated label stock that was extremely durable and water proof and used digital or flexo printing technology to guarantee quality.

Customer service was particularly important as ABC established a reputation for delivering on time and correctly. If mistakes occurred, and they did, ABC adopted a no questions asked guarantee. ABC established a reputation as a reliable vendor for its customers.

The business became a successful mainstay of ABC’s business but only because it developed a planned, business development process that was reviewed constantly and made changes that the market required.