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Hiring the Right Business Developer at the Right Time

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Business development is such a generalized title these days

what does it really mean?  

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There are a variety of tasks that take place in biz dev and each one should

be calculated and utilized at the correct time.  

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Businesses get tripped up in hiring the correct person at times because they get caught up

in that person’s qualifications rather than focusing on what is best for their business.

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Here are some thoughts that should help employers navigate

who to hire and when.

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Timing is key

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If you take in a qualified dev ready to swing with the best of them too early you could be causing a disaster for

the business.  

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With three stages in the process of commercialization (scouting, testing, and scaling) it is vital to find the right person

for each stage of development.  

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Someone who is excellent at giving a proper path for the business with analysis may not be the best at

gathering it.  

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That person would be better off scaling your business than scouting for it.

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It’s not sales

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Biz dev encompasses building the business to succeed in all areas.  

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Sales often has a strong product in place and is simply

used to drive revenue.  

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Biz dev would focus on improving the product, finding potential buyers for it,

and creating partnerships with investors.

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Managing the deal

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A biz dev is someone who understands that before a deal is done

the business will be able to support that client for the long run.  

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You are not simply out their to get deals, something an account manager would do, but out there to ensure once you have the

client you can keep them happy.

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Helping each other out

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Biz devs will need support from every member of the

company.  

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They rely on internal assistance to create a product that lasts

and is satisfying to clients.  

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If biz devs cannot rely on people from the company it

is likely that things could turn ugly (ie. loss of

revenue, blame passing, etc).

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Measure the goals

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Everyone in the business needs to understand why deals are being made.  

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It has to make sense for the company on the whole.  

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Measuring the benefit eliminates ambiguity with

this.  

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Did you make the deal to improve revenue, introduce a new product, or improve

an old product?

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Make the right deal

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Some companies have been left in the dust because they

hired a biz dev who made deals to simply make them.

 

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Someone needs to weigh each decision with the best outcome for the company.

 

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If it doesn’t make sense in the long run it shouldn’t be

done.

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Keeping your company on the right track is always a difficult thing but once you

see an idea become a product and then that

product brings in revenue you know that you have

made correct decisions in the development stages.

 

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Make sure you are finding the right person at the

appropriate time to keep your business flourishing.

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Hiring the Right Business Developer at the Right Time