Why do companies use an independent business development manager?
As this is our core business it’s clearly something that we can answer with a lot of obvious bias but also we can answer honestly and explain why companies do look for an independent BDM and perhaps which companies would do better to look for a more long-term or permanent solution.
Let’s start at the beginning.
In the beginning there was a small team of specialists working to develop a really innovative software/service/widget/solution (*delete as applicable) that they now want to sell to their chosen (and hopefully well-researched) markets. They are disrupters. This new way of doing things can change the world. But who is going to buy it if they don’t know it’s there and available?
The emphasis in early stage businesses is all about product/solution development and getting it to market. There’s often a tight budget especially when a business startup is bootstrapped and pre-investment and yet they need a specialist BDM to get them in front of the right customers and strategic partners for sales.
This is where an independent BDM comes into play as we work on a low retainer plus commission on introductions and sales we make for the business. It’s called a ‘Retainer Plus’ model. Low-risk and high-impact working with a specialist to open specific doors for your business.
This works equally well for larger and more established businesses who have a requirement to enter new markets or take on new strategic clients. The same process, the same model and the same level of professionalism with that low-risk element.
Okay, so we know it works for these types of businesses but does it suit everyone? Simple answer is “no”. For companies looking for full time business development capability taking on an Independent BDM will not work as our time is spread across a small portfolio of clients rather than as a contractor working, say, 6-months on one specific brief. We can help in getting this process set into place or opening strategic doors for your full time BD person to then close but an independent would not be ‘independent’ if they were working full time on one brief – that would be a contractor or an employee. Both very different beasts.
From here on we will release insights and ‘things that work’ in the world of strategic business development so we can share these stories and our experience with anyone who’s interested in reading. Of course, you can contact us through the Contact Us page anytime you have a question.
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