What is business development?
The business development role or unit in an organization works to create long term growth and profitability through three main activities. These activities include creating meaningful partnerships, establishing business in new markets and increasing the value of your current customer base.
The role is a mix of sales, marketing, negotiations, networking, project management and contract review. One of the many joys of working in a business development capacity is that I have the opportunity to work with various business units throughout the company, all while being allowed to influence the growth and direction of your business based on current business and market trends.
Business development should be a core part of your business’ growth strategy. Every business, regardless of size, should have at least one person responsible for the company’s business development activities, even if it’s in addition to other responsibilities. You should be looking for an enthusiastic, detail oriented and self-motivated individual, as this person will be actively “selling” your company to partners and customers.
However, many small business owners find that there are simply not enough hours in the day to be able to focus on it, or feel that their skills are better used elsewhere.
Why outsource business development?
The benefits of outsourcing business development to an independent professional can include:
- Ensuring that the Business Development cycle is followed and completed
- The ability to think outside the box a little and to test new market sectors
- More flexibility in times when the market goes quiet and customers slow down.
- Someone actively looking for new business may be more likely to stumble on something really useful, a new
technology, new ways of doing business, something your competitors are doing that you’re not.
- Building a strong link between your marketing team and your sales team
- Building strong relationships with key clients for lasting business.
Why Dukes Management Services?
The years of experience and success I have specifically achieving business development for small businesses, coupled with the partnering way I like to work, will ensure you get maximum return for your investment.
Cartref Barn, Carthovel Lane, Grendon Underwood, Buckinghamshire HP18 0EW
Tel: 01296 770794 Email: email@example.com