Is Outsourcing Business Development Right for You? The Key to Unlocking Growth

Picture this: You're working tirelessly to grow your business. You're making sales, but it feels like you could be doing so much more. Despite trying new tactics, your growth just isn't skyrocketing. If this hits home, outsourcing your business development could be the game-changer you need.

In this blog, we'll cut through the jargon and discuss how outsourcing certain aspects of your sales process can propel your business forward. We'll cover the good, the not-so-good, and everything you need to decide if it's the right move for you.

So, what exactly is outsourcing business development?

In a nutshell, it means partnering with an outside company or expert for help finding new customers, expanding into new markets, or building strategic partnerships. These experts handle things like:

• Pinpointing your ideal customer: They dig into data to really understand who you serve best.
• Lead generation: Finding and nurturing potential clients who are likely to buy.
• Connecting with decision-makers: Building relationships with the right people at the right companies.
• Closing the deal: They've got the skills to negotiate and finalise those sales.

Why consider outsourcing business development?

• Save money (yes, really!): It might seem counterintuitive, but outsourcing can be more cost-effective than hiring internally, especially in the early stages of building a sales team.
• Tap into experts: Access a whole team of seasoned professionals with specialised skills you might not have in-house.
• Scale with your business: Need to ramp up sales quickly? Outsourcing lets you scale up or down based on your needs.
• Gain laser focus: Your team can concentrate on what they do best – making awesome products or providing great service – while the outsourced team handles the sales hustle.
• Fresh ideas: An outside perspective can shake up your approach and uncover opportunities you might miss on your own.

Okay, but are there any downsides?

Honesty is the best policy, so let's acknowledge a few things:

• Less direct control: You'll need to trust your outsourcing partner, so pick wisely!
• Communication is key: Misunderstandings can happen. Set up clear communication channels and expectations from the start.
• Potential hidden costs: Factor in things like contract fees and communication expenses.

Getting the most out of outsourcing

• Know your goals: What do you REALLY want to achieve? More leads? Market expansion? This clarity will help you find the right partner.
• Find the perfect match: Don't just go with the cheapest option. Look for a company that aligns with your company values, your own expectations and people you feel you can work with long term.
• Communication is everything: Set up regular check-ins and make sure everyone is on the same page.
• Track those results: Use data to measure success and make adjustments when needed.

The Verdict

Outsourcing business development isn't a magic wand, but it can be a powerful tool for growth-minded companies. If you're ready to break free from frustratingly slow sales, it might be time to explore your options. Reach out to Outsourced BD today and we can have a discussion to see if we’re the right partner for your organisation.

About the Author

Daniel Radnedge, Founder @ Outsourced BD

Daniel has over a decade in B2B sales experience working at startups and big conglomerates alike. It was his own frustrations with existing sales providers that led to the creation of Outsourced BD.