A Chief Development officer is a very important piece of your executive team. What their position does can be wide ranging, depending on whether you are in the non profit world or the private sector. They can be responsible for anything from business development, to fundraising efforts. It would stand to reason that a position of this importance should only come into play when your company is ready. Too soon, and you could be overwhelmed by too much business or growth. Too late, and you could be left in the dust by competitors. But how do you know when is the right time? Read on for our tips on when to hire a Chief Development Officer.
Rapid Expansion
If your business or non profit is going through a period of rapid growth, it may be time to bring on a Chief Development Officer. While their title may suggest that this executive would be responsible for bringing on more growth, that isn’t all their job is. They would be able to mitigate and control your growth and expansion. This would allow your team to be set up for long term success. What you are striving for at the end of the day is controlled, sustained, growth for your company, and a Chief Development Officer will help you accomplish this.
More Leadership
As mentioned earlier, your Chief Development Officer would essentially be the head of your sales or fundraising departments. If you are looking around sales or fundraising staff and are seeing a listlessness, or lack of leadership. It may be time for Chief Development Officer. They would be able to provide structure to your organization’s fundraising and sales efforts. This structure can be essential to a good long term growth pattern for your company. Set yourself up for success, make sure you have the leaders necessary to lead your company to the future.
Lack of Strategy
We’ve established that good indicators that you need a Chief Development Officer are rapid expansion, and the need for leadership. But what if your organization as a whole is feeling off center, and lacking direction? A Chief Development Officer is a great solution to this as well. They are trained professionals who know how to make a long term strategy for your success, especially if you measure success by sales or fundraising. Strategize your future, hire a Chief Development Officer.
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