We’re led to believe that new businesses — especially during the first five years when they typically add the most new employees — are likely the only hope we have for significant job growth and economic recovery worldwide.
But is this really true?
Since virtually all small businesses have cut employee ranks to the bare minimum in this economy, can’t established businesses also contribute to new jobs — if they hire in a way that makes sense for the business?
In my latest home-study course, the Instant Income Business Enhancement System, I detailed the 8 different jobs that contribute directly to bringing the cash.
Over the next several days, I’d like to share with you just some of those positions and help you with some hiring decisions that make sense.
Take today’s topic for example:
FINDING A NEW BUSINESS DEVELOPMENT MANAGER
Every business owner wishes they could clone themselves, so they could simultaneously focus on bringing in new business, developing new products and services, and finding new ways to streamline and more effectively run the company. No one person can do all these things. But you can hire professionals to act in your stead. And your most important “stand-in” professional will be your New Business Development Manager.
A new business development manager will initiate — then manage — relationships with outside parties who can drive buyers to you or otherwise help your revenues grow. They can find new markets, source new product lines or recommend new service offerings, do market research, represent you in the field, recruit bigger joint-venture partners than you would be comfortable pursuing, create important strategic alliances and so on. They are not salespeople per se, but rather, they develop entirely new revenue streams for the business.
What could your new business development manager do for you? Could they:
• Pursue joint-venture inquiries you don’t have time to pursue?
• Find outside products and services to sell to your existing customers?
• Develop unusual new outlets for your products and services?
• Get your database and website in proper working order, then design a complete CRM (Customer Relationship Management) plan?
• Build an Internet affiliate recruitment program, then develop tools affiliates can use to sell your products and services?
• Find new uses or new markets for your existing product lines?
• Develop media opportunities for you such as syndicated columns, speaking at trade conferences, or radio and television appearances?
• Research, coordinate and outsource your sales, fulfillment or customer service functions — or part of them?
• Find non-traditional salespeople outside your company?
You can start looking right in your own sales department for someone to fill the most important job in your company (next to your own). Because often times, the best new-business development managers are competent salespeople you promote into the New Business Development Manager position. In fact, this is an easy promotion to make since your salesperson is already familiar with you, your company, your products and services, your promotional capabilities, what’s missing from your marketing and advertising competencies, where you would like to grow, and other details.
You can also seek out consultants who might consider working for you doing new-business development on a part-time basis—until you secure enough frequent and exciting deals to keep them occupied full time.
To find new business development professionals who might consider working on your business, you can also visit websites with job seeker postings like www.marketingsherpa.com, www.directresponsejobs.com and www.sixfigurejobs.com. Be sure any job seekers you decide to contact have the ability to switch to a small-business mentality and develop an eye for economy.
Many candidates on these sites come from management positions in Fortune 1000 companies with huge budgets, large staffs and even larger customer databases. They may not be able to do the job they’re hired to do at your company without those luxuries in place. Ask about this specifically during your interview with them, and keep looking until you find the right person.
(If you’d like to read more about how to find a new-business development manager — including sample advertisements, interview questionnaires, negotiating checklists and compensation models, check out the Instant Income Business Enhancement System here.)