Growth is key to professional services firms. It’s a very transparent and competitive world, where profit per equity partner is often available for all to see. Growth can often be linked to long-term profitability, but it can also help you attract top talent, reinforcing success. In the realm of professional service firms, Business Development Executives play a pivotal role in steering this growth and prosperity. To excel in this role, you need a unique set of traits that encompass strategic vision, relationship building, adaptability, exceptional communication, a results-driven approach, problem-solving skills, and empathy and understanding.

One of the paramount traits of a successful Business Development Executive is a strategic vision. Working with partners, business heads, and listening to feedback from the market to anticipate market trends is key to the role. This strategic insight enables informed decision-making aligned with the company's objectives and ensures that resources are allocated effectively. In the world of targets and KPIs, strategic nous is often overlooked as a key strength, but it’s extremely important.

While strategic vision is often focused on new business, and opening new business lines, effective relationship building is a cornerstone of successful business development and retaining existing clients. A skilled executive nurtures relationships with clients, stakeholders, and potential partners, fostering lasting partnerships crucial for the growth of the business. In our experience, successful Business Development Executives don’t see themselves as salespeople, but as solvers of client problems. The ability to understand a client’s needs and to find solution is often key to long-term, value add, relationships. It’s certainly worth spending time in interview, or on reviews, understanding how your BD team view client relationships and client service. A mismatch of ethos can often spell trouble ahead.