How to stop hiring business development Directors that are actually expensive party organisers
No 4 in a series titled ‘Herding Cats’, in support of senior partners everywhere.
The role of Business Development Director is a critical part of a firm’s growth strategy. Yet all too often it is underplayed, undervalued and/or ill-defined. A ‘journeyman’ BD Director – and the Professional Services sector is particularly prone to this – who promises the earth but delivers little can set back a firm for years as confidence in the marketing function is eroded. Conversely, a good appointment can help drive sustainable growth and new levels of revenue and reputation.
“They interviewed well, but they haven’t really had the impact in the business that I wanted”
“After the re-branding project they seemed to run out of steam”
“All they want to do is spend money”
“To be honest my partners don’t really see the value”.
There are a lot of experienced Business Development people positioning themselves as marketing or business development ‘Directors’ – but in truth their actual roles have often been in title only.
The circumstances in which a Senior Partner truly relinquishes power over marketing budgets, people, strategy and the power this brings them, is rare. It’s even more rare for a firm to employ a non-lawyer/accountant etc and give their role seniority over, or parity with, Partners in the firm – a true Director-level appointment.
Indeed, logic would suggest that if the intention was to create a role that could genuinely drive real change in the organization, the appointee would need to have at least the same level of authority as a Partner, certainly not less. Finding a marketing professional who would be prepared to take an equity risk is another issue.
We’ve all seen the variants of BD Directors amongst the competition…
Safe Pair of Hands – If in reality you are your firm’s BD Director (as well as Managing Partner) then perhaps all you need is someone to do your bidding, or to run a team, or keep things ticking along. RISK: The ‘vanity hire’ – e.g. you hire someone who is over qualified, tries to make change happen and eventually moves on out of frustration. In truth, most ‘safe hands’ positions can be filled by someone at a manager level.
Front Man – Your vision for the role might be someone who can woo the Press, speak at events, is a social media obsessive, strings together local sponsorship deals, is an arch-networker, and brings in a flow of new clients. RISK: These people can annoy existing big hitters, and shine brightly for a while, but don’t hang around. And I regularly hear that the leads generated are random and of variable quality.
Other characterisations are available: The Colouring-In Department, Social Media Guru, Golfer. There are ‘horses for courses’, and none of these are necessarily wrong, but if they are recruited into the business to progress some form of medium term change agenda you might be disappointed.
If you can see significant strategic challenges ahead, for example:
- the competition is growing dramatically, swallowing clients and your key staff;
- the service profile of the firm is outdated, and new service offerings need to be established;
- you think perhaps a niche sector strategy is the way to carve a future;
- the Partners lack the basic BD skills and disciplines to generate revenue;
- your BD function isn’t delivering as it needs to and your brand is weak;
- all of the above and you don’t have a plan to deal with it all…
…then it’s likely a serious and experienced BD strategist will help you to drive change. But for a senior BD appointment to work, you not only have to have the right person but the right environment for them to thrive. You also need existing Partners to really understand that ‘marketing’ actually reaches beyond their own sphere of influence (that’s trickier than it sounds).
With mature reflection (of 30 years’ experience in this space), I believe there are six fundamentals to get right:
- Clearly define the business outcomes that you are seeking, acknowledging that some of these changes may occasionally prove uncomfortable for you and your colleagues.
- Socialise all of this and get consensus amongst the partner group that this is correct and they personally subscribe to the changes. Set expectations that any appointment is not a ‘silver bullet’ and that any strategy will require their engagement.
- Clearly define the Business Development Director’s role, objectives and what success looks like – and put this in writing.
- Gain acceptance that the role will operate at ‘Board Director’ level (exec, not operational), reporting to the Managing Partner ONLY. No joint reporting…it’s a recipe for disaster no matter how pragmatic it might be or what political problem it conveniently resolves.
- Understand (as a Managing Partner) that your appointment will be a close adviser, one of your inner-circle. This is a pivotal appointment for a MP – chemistry and honesty are very important. They will need your open support.
- Define the person spec required to specifically achieve your objectives, and that will fit your culture. Get the candidate to meet the key stakeholders – e.g. give them some skin in the game.
In conclusion, there are a couple of important issues at the heart of the matter – the willingness of the firm to welcome and respect someone from a different professional discipline into their fold; and whether the firm has reached a tipping point where it’s no longer viable to simply do more of the same and that something more fundamental needs to change.
No 1 in a series titled ‘Herding Cats’ – Round partner pegs in round partner holes
No 3 in the series ‘Herding Cats’ – Four habits of fast growth
No 5 in the series ‘Herding Cats’ – Social media: A critical BD tool or a busted flush?
Professional Services Specialist
35 years-experience of advising and working at senior levels within professional service environments. From Global BD Director with Turner & Townsend to Communications Director for Grant Thornton, from international BD roles within PwC Consulting, as well as a range of interim and consultancy roles. Please contact me for a no obligation perspective on alternative ways to herd your cats.