Thursday, December 12, 2013

What Role Does Business Development Play At Your Company?

Create A BizD Legacy

Is Business Development just another name for a “sales hunter” who searches for new business or is it inside sales and telemarketing?  Or, do you consider BizD to mean partnerships and alliances or mergers and acquisitions?

At top companies BizD interfaces with marketing, sales, CEM, engineering, R&D, product/service management and production processes.  Only after new BizD ideas are fully vetted for prime time will they be transitioned to the respective operating environment [or a new one will be created]. BizD then moves on to the next prioritized opportunity to continually add significant value to the business.

Continuously Ask Yourself About Your Business

What will your business be like if you continue the status quo for the next couple of years?  What formalized actions are being taken to improve your business?
  • How do you nurture most valuable customers to keep buying and referring?
  • How do you develop new MVCs?
  • How do you find new customers?
Do You Continuously Solicit Internal and External Feedback?

  • What do employees, customers and partners think of your business?
  • How can you make it more attractive for the best employees to join your company?
  • How can you make it easier for customers and partners to do business with you?
  • What would it take for targets to want to do business with you?
  • Should you offer new or modified products and/or services?
  • How do you compare Vs. best in class companies in mission critical processes and programs?