Selecting a Business Development Consultant

CEOs operating in the federal sector have many options for maximizing their business development effectiveness. Almost always, one option is to augment internal personnel with business development consultants. Those who can help win new business come in a wide variety of types and sizes, each with their own set of strengths and limitations.
 

They include:

• Regulatory Experts who advise on government rules, procedures and regulations
• Training Professionals who run classroom-based programs to teach staff how to write proposals
• Proposal Writers that take rough drafts and turn then into effective proposal text
• "Door Openers" who have connections that facilitate identifying and getting into the offices of key leaders and decision makers
• Lobbyists who track and influence congressional activities
• Strategic Business Development Consultants who help plan and execute successful business development initiatives

Selecting the right type and the right firm or consultant requires you to clearly understand your own goals and objectives. Specifically, what do you want to achieve by bringing this consultant or firm into your company's business development operations?

If your firm is addressing one or more of the situations or objectives listed below, consider the
Strategic Business Development Consultant:

• You want to improve your business development performance
• You are entering the government market or a new sector in the government market
• You are working to capture a key strategic contract
• You are evolving into a larger business from your initial phase as an 8(a) or small business
• You are preparing your business for acquisition and want to maximize the value

We believe there are four principal criteria when selecting a Strategic Business Development Consultant in the government market sector:

• Proven and demonstrated capability to win government contracts
• Proven and demonstrated capability to achieve consistent, long-term revenue growth
• Ability to pass on to others the "know-how" of revenue growth strategy and winning contracts
• Quantitative and measurable results in growth of contract portfolio, growth of revenue, increase in the win rate of competitive contracts, and winning key strategic new competitive contracts

Why are these criteria important?

Business development consultants who have previously led successful companies or operations are the most likely source of people with the capability to achieve consistent, long-term revenue growth. These include former CEOs and leaders responsible for major business units or operations, some of whom may have valuable relevant experience in your specific market niche.
 

While important to the process, experts in government regulations, the FARs or DFARs, market niches, or proposal production will not provide knowledge and experience derived from actual hands-on experience in achieving significant revenue growth.

The most important credential to examine is the performance records of the companies or operations led by your potential business development consultant. If he or she has not achieved significant revenue growth or mission objectives while leading a previous company as President, CEO or business unit manager there is little reason to believe this consultant will help your company grow. On the other hand, if your candidate has achieved significant success in leading one or more companies or operations, there exists solid evidence that he or she may help you.

Also, your business development consultant must have the capability and willingness to distill his or her successes into learnable knowledge and principles that can be applied within your firm. The best way to judge this capability is to invite the potential consultant to present his or her approach to your firm. That presentation will give you the opportunity and information to judge his or her ability to communicate clearly, collaborate with your staff and work effectively in your market sectors.

Finally, test yourself.

• Is your firm winning strategically important new contracts?
• Is your firm consistently growing revenue at a significant rate over the long-term?
• Is your firm winning 50% or more of the full and open competitive proposals submitted?
• Is your firm winning more than 65% of the competitive proposals submitted and not exploring new markets?
• Is repeat business or task order (IDIQ) work a strong base of your annual revenue?

If you answer 'no' on two or more of these, you should develop and implement a strategy to improve your business develop effectiveness. Retaining a strategic business development consultant can help you focus your efforts and upgrade your capability.