Most credit unions have a business development department. A person or group of people responsible for going out into the community, working with businesses, serving on various committees or a doing a myriad of other “external” contacts.
While it helps to have dedicated individuals responsible for these key duties, thinking that only having a few people doing business development will work is a false assumption. Why?
Because everyone is in business development.
Successful business development starts with a mindset: the attitude that no matter what position you hold in the financial institution part of your job is business development. Whether a teller, loan officer, accountant or any other title you can do some type of business development activity.
While everyone is in business development, there are three particular positions that absolutely should perform those duties as part of their weekly tasks:
- CEO—Long gone are the days where chief executive officers sit behind a desk, crunch numbers all day or hold boring meetings.