Business Development Director - City of London
Flexible workspace is not a new concept however there has been significant growth in this market in the last 10 years. Newer operators such as WeWork and The Office Group have disrupted the market by creating brands that are cool to be associated with, leveraged coworking and community to create a vibe and an energy that members want to be a part of, have delivered economies of scale from building larger centres and have demonstrated to corporates the benefits of leveraging flexible space as part of their portfolio.
Traditional investors/landlords have generally only provided space on a limited management and long-term leasehold basis. As a consequence, they are not set up to run a more operationally intensive business. With the strong growth in this sector, the market is recognising that the model has changed for good and all parties need to respond to increasing occupier demand for both flexibility and ease of use.
To capitalise on rapid growth in the Flexible Workspace market and Landlord needs for operating partners to help them enter the market, COVALT has developed a 'White Label' Flexible Workspace solution. A white label product is a product or service produced by one company (i.e. COVALT) that other companies (i.e. The Landlord) rebrand to make it appear as if they had made it. We offer the ability to design, build, market, sell and operate a flexible workspace solution on behalf of existing and new clients, under a management agreement which delivers an improved return to the landlord and builds a profitable business for COVALT.
This is therefore a very exciting opportunity to join and help shape a new business focused on a high growth market sector. There is a need to move rapidly in order to respond to competitor activity and to capitalise on the current opportunity to help shape the industry response at this critical time in its evolution. This role will report directly to the CEO.
This role is responsible for all B2B sales of the White Label Flexible Workspace platform. This will include building a pipeline of client opportunities and converting opportunities to contracted locations. The role will need to work cross-functionally with other members of the Management team in order to demonstrate our credibility in this space to potential clients and to ensure that we are confident in our ability to deliver to specific client requirements. There will then be a requirement for a robust handover to the client account manager and operational delivery teams to ensure we deliver a seamless customer experience. Remuneration for this role will be heavily incentivised towards consistent deal closure.
Knowledge & Experience:
- An understanding of Flexible Workspace and/or the broader Commercial Real Estate Market is preferred.
- Experience in selling outsourced services is ideal.
- Proven ability to demonstrate creativity and innovation in client sales pitches.
- Degree-level qualification in a relevant discipline (desirable); As and Bs at A Level.
- Gather and maintain a high level of market intelligence regarding Flexible Workspace development.
- Complete a robust market segmentation exercise and use the results to build a clear business development plan with prioritised targets.
- Leverage existing relationships and contacts in order to identify and target clients.
- Develop and Manage a new business pipeline providing regular updates and reporting to the Management team and wider business as required.
- Plan and Manage new business opportunities from identifying an initial opportunity through to contract signature and handover to the operational delivery teams.
- Where clients are planning to tender business in this sector ensure that we build the right relationships in advance to ensure that Covalt is invited to respond.
- Lead the COVALT response to all client tenders, drawing on resources from across both the White Label team and the wider business to maximise our chances of success.
- Establish best practice business development processes and documentation.
- Keep accurate records of all business development activity, share lessons learnt and look for opportunities to continuously improve our activities in this area.
- Develop a detailed understanding of the client P&L model for Flexible Workspace including both costs and revenue streams.
- Ensure all agreements meet key criteria in terms of profitability and ease of delivery for COVALT.
- Ensure all agreements are structured in a way that drives valuation and limits risk to COVALT.
People & Teams
- Play a Leadership role within the Management Team helping to create a positive and collaborative environment.
- Achieve annual objectives set within the performance review and actively engage in the review process.
- Proactively seek and undertake on-the-job and formal development activities to broaden experience and knowledge.
- Help in creating a unique team culture and entrepreneurial spirit.
- A comprehensive set of contacts within the UK gateway city office space/landlord demographic.
- An enthusiastic passionate and determined business development professional.
- Strong commercial acumen and a proven record of closing deals.
- A team player with excellent communication skills.
- Articulate and effective communicator at all levels (including C-Suite).
- Able to work to tight deadlines and in high-pressure situations.
- Strong organisational and project management skills.
- Demonstrates confidence, drive and enthusiasm.
- Ability to respond and adapt to changing priorities and deadlines.
- Ability to network and build relationships both internally and externally.
- A creative problem solver with the ability to think 'outside the box'.
- Strong IT skills (MS Word, Excel, PowerPoint).
If you are interested in applying for this position, please share your CV and interest with Lee Riley, Senior Director and Grant Kaveney at GKR London.