Choosing between full-time business development support and outsourcing is an important decision that deserves thoughtful consideration of key factors.
Cost is a major consideration. Hiring a full-time business development professional often involves a six-figure salary, which can be a significant investment. While this option provides you with an expert who can craft strategic plans and generate a pipeline of opportunities, it may not always align with your current needs, especially in a year with potential challenges.
On the other hand, opting for contract or part-time professionals can offer a more cost-effective solution without compromising quality. These professionals usually work with multiple clients, bringing a broader market perspective and extensive networks. Their flexibility allows them to focus their efforts during peak times while minimising downtime, making them an efficient choice. Plus, self-employed consultants tend to be proactive in seeking opportunities, ensuring you benefit from a dynamic approach to business development.
While there are many outstanding full-time professionals out there, a part-time approach can provide the high-quality support you need while managing costs effectively. The key is to establish clear objectives and measurable outcomes from the start, so everyone understands their roles and what success looks like, with room for adjustments as needed.
So, which option suits you best? Think about your motivations: Are you aiming to grow for a sale, plan for succession, or improve profit margins? This decision is a strategic investment in your business’s future. If you’re considering a part-time solution, Kennedy & Co. is here to help.
