STANDOUT agencies invest in their new business lead

There may come a point in your agency journey that you decide to appoint a new business lead to spearhead your business development.

New Business Director, Sales Director, Growth Director, whatever their title, their job is to lead the new business function and recruit new clients.

I’m not against this strategy but it’s one that is fraught with pitfalls and is incredibly tricky to get right. Who to appoint? What to pay them? How to structure bonus payments? These are just some of the many questions that occupy the minds of agency owners exploring this topic.

This is in an investment in your business, but like any investment you should go into it expecting a return (but a realistic one).

A common mistake I see STANDSTILL agency owners making is to go into this expecting too much too soon. I did this myself many years ago when I hired a New Business Director who promised at interview he was “good for £1M sales” in the first year. He wasn’t.

If they hire a New Business lead, STANDOUT agency owners do so expecting them to achieve somewhere between 1 and 3 times their employment costs in their first year. Any more is a bonus of course.

Have you hired somebody to win new business for your agency? What revenue did they deliver in their first year?

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