In the article it is spoken about A Business Development Expert. Business development is not everyone’s cup of tea. While many may be experts at it, others would not even have an insight into it. Causing a blunder on this front can be very devastating and have far reaching consequences. Investing money is not the only criterion for success.
There have been many cases when a company, in an effort to formulate a new business strategy made a mistake and the incorrect implementation almost had them at the verge of bankruptcy. To avoid such situations, it is best to hire a business development expert even if it means spending an extra amount. Better be safe than sorry.
An expert would be able to be of a great help by providing valuable advice at every step of the development process and would also be able to overlook things and check whether everything is being done as per desired order. Since they have a creditable experience behind their back, they may be able to foresee problems in advance and help in damage control if necessary.
A “been there, done that” person always comes out to be an asset in the end. Making the most of them is in the hands of the businessman. It is not mandatory to abide by their suggestions, but at the same time, avoiding them may prove to be a mistake.
Since this is a business step, the first thing that needs to be done is to evaluate the total cost of hiring the man. Apart from the charges for the services rendered, payments for accommodation (if the person flies in from another state), travel to different business centers, research work undertaken, calls made for professional purposes etc. would have to be made for. Many a times, especially the small business companies may not be able to bare such costs. Fortunately, it is not necessary that every expert is going to be so expensive for hire. Make a budget and always hire someone whose pay comes under it.
Second criterion for judgment is the qualification and the experience. The hired person should have the required specialization in the field in the direction of which business development procedure is going to be taken. Different experts have different specializations with fields like marketing, human resources, sales, production etc.
These are interrelated but different fields and have different areas of attention. For example, a company which wants to undertake increased production in the business development model, they would require someone who has specialization in production. If a marketing expert is hired, there would be no effective results.
Once a performance measurement consultant is hired, do not expect him to bring about a revolution straight away. Give him some time to understand the work flow and the potential of the existing business system. As the best procedure, he would first stabilize the existing scenario and then move on to planning the development process. Any suggestions that come your way would be based on the skills and talents available with the working staff and along with them, the businessman who is running the show.