February 15, 2008
Business Development and what it means….
There are many thoughts on what business development really means. I mean, it is such a general “catch all” Title. I think it is kind of fun because it is so nebulous, however this is serious business….
Is it sales? Is it partnership development? A lot of what the title means is based on the employers definition. Some may say we are the schmoozers of the company, the “winers and diners”. Others, could argue that we gather cold hard facts and bring in new business. We are “Revenue generators”, “rain makers” and “Sales People”. Others focus strictly on partnership. So what does this title engender in you when you see it?
Business development includes a number of techniques designed to create and grow an economic enterprise. Such techniques include, but are not limited to, concept and brand development, assessments of marketing opportunities and target markets, intelligence gathering on customers and competitors, generating leads for possible sales, followup 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.
Wow- That is a lot for one person to do. How does one accomplish all of that? Visit my Blog regularly and I will have tips and tricks in how to do this and more, (along with other random thoughts).