The New Type of Business Developer

Source: Rainmaker Report

A business developer today must be a:

• Consultant.
• Strategist.
• Business partner.

Consultant

• The business developer must be honest, reliable, and a problem solver. He/she must:
• Be knowledgeable about the business and the industry. He/she can do this by:
  • Reading industry publications.
  • Being active in trade groups.
• Understand the company’s problems.
• Know the prospect’s market trends and strategic direction.
• Find databases relevant to the prospect’s business, e.g., its prospective customers.
• Show the value of your firm’s services.
• Be a good questioner and listener and determine the prospect’s needs.
• Use relevant stories and analogies.

Strategist

The business developer should orchestrate solutions to client problems. To do this he/she must:

• Understand the firm’s structure and personnel.
• Be able to manage a team.
• Manage the process with efficiency.

Business partner

The business developer should develop a long-term relationship with the prospect even if there is not an imminent client relationship. The business developer should:

• Build trust.
• Develop a good image of the firm and get the prospect to respect it.
• Be concerned about the prospect’s future.
• Offer to help.
• Keep prospects informed about new developments and services.

From Rainmaker Report, www.raintoday.com, August 29, 2007. For the complete article click here