What Does a Business Development Manager Actually DO

What does a business development manager do This is a great question, and it’s one that comes up quite a bit. I feel like somebody in some company somewhere invented the role of business development manager for one of their friends, and now everybody’s kind of perverted it to fit their own needs. Well, I’m gonna give you seven specific things that a business development manager does. The first six will be a little bit, surprising to you, but you’ll recognize ’em. The seventh one is gonna shock you and you need to stay with me through the whole video to get to the seventh one. But all that’s coming up on this edition of the Inside Bs Show.

Hi, it’s Dave Lorenzo, and this is the show that we do every day to help you get inside business strategy. And today we’re talking about business development managers. What does a business development manager do Maybe one of your friends has that title and you are searching to figure out exactly what your friend is doing. Maybe you’re interviewing to be a business development manager and you’re thinking, what the heck is a business development manager Well, I’m gonna share six specific things that really good business development managers do, and then I’m going to share with you a seventh thing that the best of the best business development managers do. It’s a secret. Most people don’t know it, but only the best know it and they’re not gonna tell you, but I’m gonna share it with you today. So those are the seven things we’re going to share with you.

Becoming a business development manager

Before we get into that, what qualifies me to talk about being a business development manager Well, candidly, I was one when I started my career at the Gallup Organization, a as a big ticket consultant. I started as a business development executive. I had business development managers who worked with me on my team, and I helped them figure out what they could do to be successful in their roles. I’m gonna share those six steps and then the secret with you in the seventh step, and let’s get started. Let’s dive into the content right now. The first thing a business development manager does is generate sales leads. You are not gonna be successful unless you can figure out how to generate sales leads. I don’t care if you walk up and down the street asking people to work with you, or if you run events. I don’t care if you do direct mail, I don’t care if you knock on doors and cold call as a business development manager, your primary responsibilities to figure out how to get your solutions in front of as many people as possible.

Developing New Business

So you’ve gotta generate leads. Now, you know, if you’ve watched any of my videos on YouTube, and as I’m recording this right now, there’s over 600 of them here. If you’ve watched any of these videos, you know, I don’t like cold calling. I don’t like surprising people with your content. And if you’re in professional services or you’re in high ticket sales, you can’t cold call because cold calling just positions you as desperate. So what do you do as a business development manager to generate sales leads There’s a whole host of things you can do. In fact, I’ve got a free gift with you that’s gonna help you get more leads. Quickly stay with me and I’ll share it with you in just a few minutes. But generating leads is the primary responsibility of a business development manager. Now, maybe you generate these leads by responding to inquiries from the website or by inbound phone calls or by cards filled out at a trade show.

Generating leads is your thing. If you’re a business development manager, that’s the first thing you gotta learn how to do. The second thing you need to do as a business development manager is set meetings for your sales executive. Now, when I was a business development executive, my goal, my role was to close business. My goal was to close two or three new clients every month. My role was the closer the business development manager would set me up. I would come in, I would close the deal. Now in high ticket sales, in big ticket consulting, the business development manager takes a long time to set people up for the close. But that’s part of what you are doing in a role as a business development manager. You are there generating the leads, warming them up, helping them understand everything you do, sharing solutions, nurturing, nurturing, nurturing, and then you lead them in to the business development executive and the business development executive closes them.

I want you to think about this in a very easy to understand concept. We’ve all purchased a car at some point. There’s the person who approaches you on the lot or in the showroom and helps you understand everything there is to know about the car. Then you sit down with him, you tell him what your budget is, you tell him what color car you like, you tell him what features you want, and he gives you an idea of what the price is. Then you get introduced to the finance manager. In that scenario, the business development manager is the salesperson who meets you in the showroom or out on the car lot. The finance manager is the business development executive. The finance manager is the closer. So if the business development manager, if that initial salesperson can get you to say yes, the finance manager comes in and tries to boost how much you’re gonna pay.

If the first person can’t get you to say yes, the financier is the closer who comes in and tries to slam the door on you. You want another example of this Think about timeshare sales. If you’ve ever been to a timeshare presentation, you show up at this event, somebody welcomes you in there, and then after the event’s over, a person gives you a tour of this beautiful property. So the tour of the property is fantastic. You sit down with this person and they tell you all the benefits of being an owner. Then they tell you the features of ownership, the features of each of the properties, and then they tell you what the pricing is and maybe you hesitate a little, maybe you don’t. They leave. In comes the manager, that’s the business development executive. The person who first took you around gave you the tour, got you all warmed up.

That was the business development man. Now, in software sales or in professional services, the business development manager may just simply introduce you to the firm. They may simply introduce you to the company. They may do some educational marketing, they may get you all warmed up, and then the business development executive comes in and closes the deal. And professional services. That would be the partner at the law firm In consulting, it’s the partner in the consulting business. That’s who is the person who ends up closing the deal. So you as a business development manager, warm the client up, you get them excited, you get them interested, you educate them, you help them understand what the pricing is going to be like, and then you get them ready for the big close. That’s the second thing a business development manager does. The third thing a business development manager does is this person, he or she creates strategic alliance partnerships.

Develop Relationships With Other Professional Service Providers

If you’re a business development manager in a professional services firm, let’s say you work in an accounting firm as a business development manager, you go out to other professional services firms. So if you’re working as a business development manager in an accounting firm, you go to a law firm that targets the same clients, and you talk to the people in the law firm about putting on joint events. You talk to the people in the law firm about recommendations. Who’s your ideal client Who can I recommend to you You’re gonna recommend people to me. This is called a Strategic Alliance partnership. Now, business development managers in many places are tasked with this because it’s a smart way to grow a professional practice. It’s also a very smart way to grow any other high ticket service business. Take Jets, for example. For years I worked with Cessna, and Cessna is one of the most successful aircraft manufacturing companies in the world.
People who work for Cessna in a business development manager role, they go out and they approach fleet managers at large companies. For example, IBM has four or five cessnas at any given time that they use to fly exit executives all over the world. GE has, you know, a dozen cessnas that they use to fly their executives all over the world. So the business development manager would go out and approach fleet owners, fleet managers, fleet people who work with ibm, and they would try and get them to work with IBM to buy Cessna’s. The person who does the maintenance on the fleet for ibm, the person who manages IBM’s fleet of jets, that person would recommend Cessna’s and Cessna would get the sale in return, Cessna would try to introduce the fleet management company to its clients. That’s a strategic alliance partnership, and that’s how those people work together.
It’s a phenomenal way to do business. So a business development manager would also be responsible for originating those relationships. And in most places, all the new business that came from those relationships, the business development manager would get credit for that. So let’s say I’m a business development manager at Cessna, and I approach the fleet management company for IBM’s fleet of aircraft. Let’s say they have 12 aircraft globally, and there’s one company, X, Y, Z company manages the aircraft. They take care of the maintenance, they certify the pilots. They make sure that the pilot’s hours are up to date, they have pilots on standby. In the cities where the aircraft are located, they handle all the management of the aircraft. I work at Cessna. I create a relationship with that fleet management company and I say, Hey, listen, I have GE as a client. I know they use someone else.
Would you like me to help you open the door to GE so you can get in there and pitch them for fleet management services They say, that’s great. Who do you want as a client I say, I’d love I B M. They say, great. IBM’s looking to purchase a new aircraft. Let me set up a meeting for you with the person who heads up that department at I B M. That’s the way a business development manager can open the door. Now, if IBM buys a jet as the business development manager, I get credit for that. If I introduce that fleet management company to somebody at ge, they’re gonna be fired up and they’re gonna want to introduce me to Microsoft or to Apple or to other companies that also are looking for private jets. A business development manager creates strategic alliance partnerships because it is one of the fastest paths to the sale.
The fourth thing a business development manager does is he or she generates referrals. So the business development manager will be responsible for calling all of their clients, all the clients in their portfolio and asking questions that lead to referrals. The people who are the best business development managers, they know their clients really well, and they know who their clients know. So when they come across someone that’s friendly with one of their clients or that does business with one of their clients and they want to meet that person, they simply call up the client and ask and they tell ’em the reason why they wanna meet him. And that’s the easiest way to generate referrals. But as a business development manager, generating those referrals is great, not only for you, but it’s good for the client because it makes the client look good. And in the end, it’s gonna be great for the person you’re getting introduced to cuz they’re going to have someone new that they can work with.
So generating referrals is also something that a business development manager will do. Now we’re up to the fifth thing a business development manager does. And before we get into that, I wanna share with you something that I want to give you for free. I told you I had a system that can help you generate more leads, something that will make it easier for you to do your job as a business development manager. And that’s my Revenue Roadmap guide. I wanna give it to you for free. All you need to do is scroll down. In this video, you’ll see a free gift from Dave in the description of this video. There’s a link right below that to revenue roadmap guide.com. Revenue roadmap guide.com. Go to that website, click on that link, make sure you enter your contact info. You can immediately then download your guide to growing your business as a business development manager.
That’s a whole marketing plan right there you can use to grow your book of business. As a business development manager, it’s my gift to you if you have any questions. There’s also a way you can reach out to me after you download the guide. I’m looking forward to talking to you after you download that free gift from me. All right, let’s get back to the things that a business development manager does. We’re up to now, let me see here. We’re up to step number five or the fifth thing. So we’re up to the fifth thing that a business development manager does, and that’s invite people to events, whether it’s an educational event or a social event. Your company, if you’re in high ticket sales or if you’re in professional services, will conduct events all the time. And as a business development manager, your role is to put people in that room because educated people buy products, educated people, buy services, invite them to events, educate them, and they will end up doing business with you.
That is the sixth thing that business development managers do. And now we’re up to number seven. This is the thing that I told you most people don’t know as far as what business development managers do. And it’s something that if you do this as a business development manager, you’re gonna win. It’s super easy, it’s gonna take me a second to describe it. You need to view yourself as a collector of relationships, and that’s the most powerful seventh thing that a business development manager does. The business development manager is a collector of relationships. This person nurtures these relationships for the long term. Why in the world of high ticket sales, in the world of business development for professional services, people move from place to place, but they never leave the industry. You collect relationships and if someone is successful at one place and they move to another place, they will work with you over and over again. So you came here looking to figure out what business development managers do. I shared it with you. This is one video and a whole series of videos on business development. Right below me now is another video. Go ahead and click on that, watch that video next. It’s the next video in this series. I’ll see you in the next video.

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