Many business owners believe they can do it all by themselves. It seems that way at first, but you would soon realize that you can only do little. You need people to help you. It might be hard choosing a partner or an employee that will carry your vision like you would and who will have the best interest of your business at heart. However, you still have to try. It also depends on your leadership skills and how you are able to communicate and delegate to your employees. If you try to run a one man business, you will get worn out and you might not be able to grow. So, you do need people, and one of the most important people you need is the Business Development Officer. You might wonder why, but you would soon be convinced about why you need a business development officer.
First, who is a Business Development Officer? A business development officer is a person who helps to develop your business. That is quite straight forward right? Well, you will find more exposition and clarity as you read on.
The next question that would come to mind would be how exactly he would do that. A business development officer is a learned researcher who has observed market trends and understands the business and market more than what can be noticed physically. This level of expertise and dexterity make equips him with tools that can change the status quo of any business. He increases your sales, customer loyalty brand credibility and also your competitive advantage.
A business development executive, specialist or manager studies your business model and determines how better you could be operating. He or she also goes into your history to look for things you did that were favorable to the business, and others that were not, so that he can have an understanding of where you are coming from and be able to create a road map to where you are headed to. He then studies your customers; those who have been buying and are still buying from you and why, those who have bought and did not come back and why, those who were once buying continuously and suddenly stopped being loyal, those who are yet to patronize you and why they have not. He then uses this information to create a plan to take the whole market, here by increasing your sales. However, that’s not all he does.
He also studies other businesses in the same industry. It is quite deadly for any business to operate without regard to competition. A healthy competition does not hurt does it? A business development executive takes time to study the big guns in your industry and finds out why they are where they are. This information will help you to figure out how to meet up with them and if properly done, help you surpass them.
You could decide to do this yourself, but how effective would it be to have someone who has been trained to do it. Considering the amount of time you might need to put into it, you might as well consider giving yourself some free time to sort some other things.