The term ‘business development’ can be rather ambiguous. The essence of the term is developing your business through sales, partnerships and strategy. Business development through sales can is accomplished by choosing and pursuing a target market through sales or marketing initiatives such as referrals, networking or cold calling. Building through partnerships means finding the right people to work with whether that be a supplier, a strategic alliance or a partner in your company. Finally development through strategy means creating a plan that ensures all pieces of your business fall into place. Business development strategies can be difficult to develop, so they are the focus of this model.
Business development strategy ensures that your business is growing in the right direction without overlooking opportunities. Some companies don’t survive because they grow in the wrong direction, or in too many directions. This model will help you to focus. The model is helpful for anyone looking to grow their business, who is trying to figure out the next steps to take, or who wants to ensure their organization remains simple and makes sense.
Topic Objective: Learn how to strategically grow your business.
Your Outcome: Ramp up your business!