Business development to suit your needs
Business development could simply be described as simply “consultancy” with an emphasis on developing sales. However, delivering effective business development relies upon the fusion of several disciplines to achieve the goal of improved performance. That’s why the most important core skill in business development is seeing the big picture. Companies with great products fail for lack of marketing, but companies with the best marketing teams can also suffer because despite a perfect image, the company has priced itself out of the market or simply there is not outreach element to get the product “in the face” of buyers.
Think for a moment how much time you devote to identifying new customers, better suppliers and innovative products. We can help you do this and get your product into the marketplace.
How do you approach business development ?
New technology can play a massive role in identifying new customers and sales conversion but the business development process needs to start with an honest assessment of where the company is today. Of course the process also has to bring new things to the table- a fresh pair of eyes , a new perspective on solutions, new knowledge of the marketplace and an identified routemap for change. Achieving the change may mean establishing new business partners or getting a better or different service from the partners you already have. And then there is the issue of timescale. Most often some small incremental changes will be made very quickly , and some bigger, more fundamental changes will follow with the aid of open innovation, or research. Core elements of the business development are :
- Identifying new customers through new technology such as Sales Navigator
- Extracting the maximum possible value from the product portfolio
- Ensuring that prospects are generated and managed in the most effective way
- Innovating the product portfolio wherever possible using Open Innovation to ensure that this process is a fast and as cheap as possible
- Accessing cheap effective support wherever possible from grant schemes and possible apprenticeships
What is the first step ?
I can offer a free consultation that will involve interviewing key staff on where improvements need to be made, assessing immediate needs and using my very broad experience to propose the first 2 or 3 steps to improve performance. Some of this might be free but mostly in-company effort will be involved !