Successful Business Development


Often requires a multi-disciplinary approach beyond just “a sale to a customer.” A detailed strategy for growing the business in desirable ways is frequently necessary, which may involve financial, legal and advertising skills. Business development cannot be reduced to simple templates applicable to all or even most situations faced by real-world enterprises. Creativity in meeting new and unforeseen challenges is necessary to keep an enterprise on a path of sustainable growth.

An important aspect of successful business development is to follow a process of how you will assess a business idea or concept (project), decide whether to move forward with the project and build a business if it is decided to move forward. The five steps below help outline a simple process you can follow. The steps are not a rigid structure to follow. Rather they identify issues you need to address and when to address them.

Successful Businesses Development Services :

The Major philosophy is simple. We collect and analyze data of every market possible to bring to the consumer products and services that identify and address exactly what they want and need to the last decimal. Many are looking for your products and services somewhere else. They don’t know where you are. You don’t know how to access them and sell your products to them.

  • Your online presence known to your target customers.
  • Identify your target customers and enrich the potential of your Web presence.

Business Development Services :

Business development includes a number of techniques designed to grow an economic enterprise. Such techniques include, but are not limited to, assessments of marketing opportunities and target markets, intelligence gathering on customers and competitors, generating leads for possible sales, follow-up sales activity, formal proposal writing and business model design. Business development involves evaluating a business and then realizing its full potential, using such tools as marketing, sales, information management and customer service. For a sound company able to withstand competitors, business development never stops but is an ongoing process. You just need to focus on accurate business development services rendering you the most profit. Developing business development services is an important strategy for achieving competitiveness and sustainable growth for small- and medium-sized enterprises (SMEs). BDS are designed to help micro, small, and medium-sized enterprises and cooperatives overcome barriers to increased profitability, by improving their productivity and access to high value markets. In this way, they can create and sustain productive, remunerative and good quality jobs, as well as reduce poverty, and contribute to the development of the local economies. These services include training, consultancy and advisory services, marketing assistance, information, technology development and transfer, business linkage promotion, and linkages to finance and financial services. Business development services assist your business with factors such as beginning, growing and managing a star-up business. Understanding the business world and what it all involves can be stressful. It can also take up a lot of time, especially time that is needed for more important aspects of the business. Business development services include strategies implementation, business goals, and marketing plans, developing a blueprint for success and providing assistance with hiring of the correct staff and how to achieve optimal sales.

Business development services are aimed at helping businesses during their initial startup and at guiding already established businesses through new goals and challenges to ensure growth and productivity. Various types of business development services are available to meet a vast variety of needs.

Business development services are also available for large and already established businesses. Many successful businesses call on the services of business development consultants when they are launching a new product or are looking to achieve worldwide recognition for what they offer. Business sales strategies are continuously evolving and changing and sales processes that worked 5 years ago do not necessarily work now. Business development services introduce you to a completely new method of sales strategies, processes and optimal marketing strategies in order for the business to reach its desired outcome. Successful businesses are victorious because they engage in the ever-changing world of technology and what it has to offer. They are also successful because as new knowledge emerges, they become a part of it. They are therefore on the same timeline as the developing world. Business development services are available for individual entrepreneurs and large enterprises. They do not have a restriction on who they help or the period you are allowed to be involved with them. Business development

Services assist with the optimal development of your business thereby ensuring best possible development and success of their business. Professionals within a particular field are assets to the company to whom they render assistance. These professionals would have in-depth knowledge of all that they have to offer.

They are experienced in their field and want to help you to make the most of your company and to make decisions based on rationality and fact rather than based on an old remedy or instinctual feeling. Business development strategies are therefore utilized by many professions and businesses and the persons who run the companies are experienced professionals who are waiting to help other people become successful through correct pioneering of innovative business plans.

BDS; is the focal point for information needed for business development i.e. capturing and increasing market shares, enhancing competitiveness, accessing new markets and increasing profitability. It also connects people with ideas and companies of all sizes, to uncover and unleash opportunities for business growth. It creates and fosters a unique framework for collaboration that leverages the strength of its wide network of national and international offices and various industry affiliations to help members expand business opportunities and open new outlook.

In the field of commerce, the specialist area of Business Development comprises a number of techniques and responsibilities which aim at attracting new customers and at penetrating existing markets.

Techniques used include:

Business development involves evaluating a business and then realizing its full potential, using such tools as:

A sound organization aiming to withstand competitors never stops business development, but engages in it as an ongoing process. Business-development roles may have one of two modes:

  • Sales-oriented (client-facing); or
  • An operational function to support sales.

In a sales role, business development could concentrate on developing strategic-channel relationships or on general sales. This emerges from analysis of the varied job descriptions found in job-search engines, especially in the UK. In the US, the term “capture management” appears as an alternative job or role title, typically used when describing business development as an operational function to support the selling function of a company. The Association of Proposal Management Professionals have produced the “Capture Management Lifecycle” that describes the process in three broad stages:

  • Pre-bid phase
  • Bid phase
  • Post-bid phase

Small to medium-sized companies often do not establish procedures for business development, instead relying on their existing contacts. Or people in such companies may assume that because they know people in high places that this will solve any business-development problems and that somehow new financial transactions will come to them. Such thinking can have significant ramifications if one cannot exploit those relationships, which very often [citation needed] remain personal or weak. Such a situation may result in no new sales in the pipeline. Business development professionals frequently have had earlier experience in financial services, investment banking or management consulting; although many find their route to this area by climbing the corporate ladder in functions such as operations management or sales.

Skill sets and experience for business-development specialists usually consist of a mixture of the following (depending on the business requirements):

  • Marketing
  • Legal
  • Strategy
  • Finance
  • Proposal management or capture management
  • Sales experience

The “pipeline” refers to flow of potential clients which a company has started developing. Business-development staff assign to each potential client in the pipeline a percent chance of success, with projected sales-volumes attached. Planners can use the weighted average of all the potential clients in the pipeline to project staffing to manage the new activity when finalized. Enterprises usually support pipelines with some kind of CRM (customer relationship management) tool or CRM-database, either web-based (such as the software-as-a-service solution) or an in-house system. Sometimes business development specialists manage and analyze the data to produce sales management information (MI). Such MI could include:

  • Reasons for wins/losses
  • Progress of opportunities in relation to the sales process
  • Top performing salespeople/sales channels
  • Sales of services/products

For larger and well-established companies, especially in technology-related industries, the term “business development” often refers to setting up and managing strategic relationships and alliances with other, third-party companies. In these instances the companies may leverage each others’ expertise, technologies or other intellectual property to expand their capacities for identifying, researching, analyzing and bringing to market new businesses and new products, business-development focuses on implementation of the strategic business plan through equity financing, acquisition/divestiture of technologies, products, and companies, plus the establishment of strategic partnerships where appropriate.

This entry was posted on Wednesday, May 19th, 2010 at 6:10 pm and is filed under Business, Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

2 Responses to “Successful Business Development”

  1. Fred Says:

    Amazing article, thanks for the fantastic read. However, you write that “Information Management is sometimes conflated with knowledge management”. Why is that the case?

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