management firm about nine months ago. The role I signed up for was part product management, part relationship management (current clients) and part business development.

Because we are a boutique asset manager there really hasn’t been a coordinated business development effort. The company has been around for 35 years and grows steadily off of assets from current clients and consultants referring us to potential prospects (we have a guy who’s job is to maintain consultant relationships).

Well over the past nine months I’ve done fairly well in the business development front. I’ve generated some really strong leads and gotten more meetings with prospects then they have had in years. Since this is institutional money management, the sales cycle is really slow, it could be a couple of years, so I haven’t won new money but have put the firm in a good position to possibly win money down the road.

My boss came to me two weeks ago and said they have hired a guy to takes some of the responsibilities of product management and relationship management away from me (I knew they were interviewing) and they want me to prospect and be business development full time.

Institutional business development is a great opportunity in asset management, but the more I thought about it the more anxiety I feel. I’ll be judged on developing leads and meetings and over a couple years to bring in money. This is completely new to me, and being the only one at the firm doing this, I feel like I’m on an island now and if this doesn’t work out, I’m an easy cut.

Has anyone ever felt fear (and true anxiety) of more responsibility and a new role? Wondering how you over came it and suggestions for getting over mine?