In the simplest terms, BUSINESS DEVELOPMENT can be summarised as the ideas, initiatives, and activities that help make a business better.
This includes increasing revenues, growth in terms of business expansion, increasing profitability by building strategic partnerships and making strategic business decisions.
In reality, a Business Advisor that specialises in Business Development assists businesses grow in any specific aspect they want; such as Mark Nogaj of Marksman Business Development.
In the main that is normally revenue (read: sales) and therefore an integral skill set is required to get more clients/customers for a business quickly, easily, professionally, ethically and cost effectively.
Furthermore, the work put in to create more clients/customers must include encouragement longevity of custom.
Therefore, highly professionally implementations of strategy are to the fore.
When a business engages the services of Business Development Advisor with the goal of increasing sales a wider look at the businesses performance and its various departments/aspects are important.
This is why a Business Development Advisor is such a specialised field, because it involves the meshing of knowledge and solutions for:
- Staff performance
- Future opportunities
- Business modelling
And therefore, Business Development in this context of discussion means the process of growing and moving a business forward via the pro-active combination of the above.
It involves the meticulous investigation of growth opportunities (be it internal, external or a combination of both); turning those opportunities into initiatives with specific strategy and stepped out implementation.
Is Business Development all about Sales? Sales makes sure your business is running in the short term, Business Development reassures your business will survive and/or grow in the long term. Often this includes the training of sales staff, management, and business owners. Additionally, it includes ensuring all staff realise their role in gaining sales no matter what their role is.
What is the Marketing aspect of Business Development?Often when a business requires more sales, they default to spending more money on marketing. This can be a considerable waste of time, money and effort. Marketing must be interloped with the Business Development strategy, and the sales aspects.
A good Business Development Advisor will be able to ascertain why your business is not growing (or an aspect of it you want to perform better or grow), put in place a pragmatic strategy with initiatives and assist with the step-by-step actions.
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