Engineering to Business Development

[trey25624]

I was recently presented with an opportunity and looking for some advice from people that have maybe dealt with a similar situation.

I currently work for an oil and gas company as an engineer, specifically in pipeline integrity. A consulting company has offered me a position to create a business line that provides pipeline integrity services to the oil and gas industry. I would be responsible for attracting new clients as well as managing projects. Essentially growing this from scratch. I would be expected to bring in revenue of over 200k in my first year and over 700k every year after. I think this is possible from research I've done. The pay for this job would be better than my current position.

I spent nearly 10 years in consulting so I understand how the business works, although I was never in a business development role exclusively. I did bring in some new work through existing clients. My current job is a good one, pays well, but ultimately I struggle with the pace associated with working for such a large company (things move slowly).

Any advice is much appreciated!

 

[AncoraImparo]

Bringing in new business from existing clients is far easier than finding new clients. As such, you will need to be a sales person to bring in new clients. If you already have a large network of clients in your contacts database as a result of your current position, then that is a good starting point for you in your new position.

Apart from this network, you will obviously have to expand it. To do so, you will need have great people and networking skills. Are you confident that you have these?

Do a thought experiment. Imagine and plan your first three months in your new position. What would you do on a daily basis to achieve the set sales goals? If you are able to establish a plan of action that you feel confident about, then it might be the career change you were looking for and might succeed in.

HTH

 

[trey25624]

Thanks Ancora, much appreciated. I think the practice of envisioning what it will be like is a good one. I do have a network and feel like I have good networking skills. Thanks again.

 

[kingnero]

I do follow the idea "if you don't try, you get nowhere", yet I might be a bit too much on the precautious side myself, to change careers like that.
I sure hope it works out for you and wish you all the best...

 

[trey25624]

Thanks kingnero, I can be a bit cautious myself but think your thought on trying is a good one.

 

[RacingAZ]

That is a high risk, high reward proposition and not for the risk averse types. I would probably take it myself as I have a high tolerance for risk and not afraid to fail on these types of deal (although I’m more conservative when it comes to actual design / engineering work).

You have to understand though that you might be out of a job in 3 months if you’re not hitting your numbers. I assume you’ll also sign a non-compete and if you get canned, your network will be theirs for a certain amount of time.

The bottom line is that they need you; you don’t need them except for the paycheck. If it’s me, I’ll just go on my own if I’m really set on moving into this new business line. Either way, you won’t get paid if you can’t deliver.

 

[dirtsqueezer]

you do not know... What It Is.

 

[oldestguy]

What's the history of the consulting company? Do you have cash set aside in case of a flop? It's almost like starting your own company or business, in which case the rule is, don't expect to make much at all in the first year. Nice to have a wife working also.