Rethinking the Role of Your BD Team (Part II of II) In the November 2020 post, an alternative way to structure your firm’s BD efforts that relies less on a central “rainmaker,” and more on an integrated team. In this post, the focus is on how to execute the various activities involved in BD, such as hiring, outsourcing, or cross-training existing staff. For this exercise, do not get hung up on specific titles; in reality, team members’ skills and interests are more important than their titles. Your BD team structure might look something like what is discussed here. Rethinking Activities…
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Turning Traditional Business Development on Its Head (Part I of II) Business development (BD) used to be simple: do good work for existing clients, be active in your local community, and watch the referrals roll in. To be a successful rainmaker for a firm, all a professional needed was a little confidence, some networking skills, and perhaps the occasional educational presentation. But BD has changed, driven by changes in the behavior of professional services buyers. Rather than ask a colleague about a business question, they began using search engines. In one industry after another, including professional services, digital transformation has…