Do you have what it takes to succeed as a business developer?

March 14, 2012

Nice post, reblogged from Financial Sales Pro:

Click here to read the entire article: Do you have what it takes to succeed as a business developer?


What’s the activity level?  So you’ve got a great plan, now what?  Implementation is the key.  We all know BDOs who spend days, if not weeks, sitting in their office fine-tuning marketing materials, letters, etc.  In my opinion, this is clearly not the best use of a BDO’s time.  If a BDO’s activity level doesn’t match what’s been laid out in the initial plan, then you may be heading in the wrong direction.

I have long subscribed to a very simple sales management process:

  1. Activity: Always start by ensuring that advisors are getting out of their office and meeting with enough clients and prospects. Nothing else in sales management much matters if not.
  2. Effectiveness: If advisors are conducting enough meetings but their close ratio is low, they may need specific skills coaching. Practice sessions and joint calling can be effective techniques.
  3. Efficiency: Your top 20-25% producers are probably fine on activity and effectiveness, so often the key is finding ways to free them from non-selling activities and get them more time in front of clients and prospects.

Do all of your BDOs have what it takes?

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