10 FIBA
Education , education , education
The important role of a BDM
RICHARD DEACON Managing Director ( Sales ), Octane
No , this isn ’ t about the famous Blair speech of 1996 when asked what his three main priorities for government were . This is about the everchanging role of the BDM and how they are a fundamental part of the success of their business … and yours .
Business development managers are primarily responsible for driving business growth , and their duties vary on a day-today basis . Typical responsibilities include creating development plans , forecasting sales targets , and growth projections . They identify market opportunities through meetings , networking , and other channels , including social media outlets , which are often underused .
Education is the most important tool in the individual ’ s arsenal . At Octane Capital , one measure of a BDM ’ s success is the number of high-quality meetings they attend daily or weekly . It is within these meetings where they really add value to the businesses . Many readers may think that their local BDM is a pleasant enough person who pops in every now and then to go through their respective lenders ’ product guide and ask if they have any business they can help with .
An educational BDM will do this as a matter of course , but this will only be an appetizer of their talents . Educating the introducer not just on what their lender can do , but also on how it can help their end borrowers is the real key to a successful partnership . The use of case studies and real-life examples , not found on the pages of a product guide , is the real value add . Being available for calls and meetings to work with them on their own specific projects is something over and above the norm .
Information is key to a successful outcome for all parties , and with this preparation and guidance from your BDM to educate on what is required for a timely completion can only help in attaining everyone ’ s ultimate goals .
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