Recruiting a Business Development Manager – a good idea?

If you have looked at the Law Society Gazette in recent times you will have noticed that a) it has shrunk dramatically, although the jobs section has started to expand rapidly in the last few weeks, and b) the editor appears to be concentrating on marketing and business development rather than legal practice.

Why recruit a Business Development Manager (BDM)?
1. If you have asked solicitors the question in the article above during an interview, you are probably already considering one without realising it.
2. The BDM spends his/her whole time on generating work, new ideas for business streams, marketing and sales.
3. Your lawyers spend their time doing legal work.
4. BDM’s get paid on performance (you would be mad to employ one who was not). Lawyers do not tend to like this type of arrangement.
Business development manager is also known as a business planner. A BDM will devote his/her attention to business development and exploiting the business opportunities that are presented. 
The business development manager must have considerable sales experience, be an organized and strong negotiator, and be aware of and responsive to economic trends, government policies and currency fluctuations.

The business development manager works to expand a company’s product reach and profit revenues. They do this by identifying new markets and attracting new clients. The business development manager therefore researches new business opportunities, identifies likely sales points, develops strategic plans and sales strategies, and undertakes presentations to and negotiations with prospective customers.

Responsibility of a Business Development Manager

  • Investigate the economic conditions surrounding your business activity such as industry trends and competition.
  • Conduct extensive market research and continue gathering information throughout the life of the business.
  • Prepare a detailed business and marketing plan so you will not lose sight of your goals and objectives.
  • Secure sufficient financial resources for future development or expansion.
  • Network with other business people; establish a support group, attend BNI and similar meetings, and build up trade.
  • Attend workshops, trade shows, and seminars to keep up-to-date on changes in the industry.
  • Adopt a team approach; work with others in pursuing common goals.
  • Understand the skills and qualities you bring to your business.
  • Develop a situation analysis of your company including its strengths, weaknesses, opportunities and threats to assist in the development of a strategic plan for the future of the business.
One of the best ways to recruit a BDM is to find one who has been successful before in another industry, offer them a reasonable basic salary, with a percentage bonus based on work generated and give them 12 months.
A good BDM will easily pay back their salary and generate a good profit. You will spot a poor BDM very quickly, as they will spend too much time doing administrative work and not enough time creating sales, marketing and looking at new opportunities.
If you would like to recruit a business development manager, Ten-Percent Legal Recruitment can assist. Register your Vacancy Online. Please note that we do not assist with commission only posts for BDMs – we do not have any candidates prepared to work on this basis.