an EFFECTIVE BUSINESS DEVELOPMENT PROCESS

WHY it is important for your company?

Building an effective business development process is crucial for each company that wants to grow in fast and measurable way. Well crafted process can help staff to control and manage long term development direction, keep things on track, meet KPIs and goals, understand and monitor market situation and team performance. Also, when things go wrong, it can help to identify problems and bottlenecks and implement rescue plan. In other words your development process will be more clear for and will go with much more trust which will help to achieve success.

what the business development process is?

In the common business sense it refers to strategic sales activities, where a person – business developer or a team of them is responsible for finding new sales and growth opportunities and executing them. However, there is much more to do behind the scenes. Everything starts with understanding market situation and competition moves. That’s why well defined and organized information gathering is a must. Then, an organization needs to clarify what value it delivers and how it stands out of competition. It allows to develop marketing and sales strategy. Things like building buyer persona and identifying right channels and target audience will increase your performance. Finally, in cooperation with other people from sales department and even sometimes from other departments of company, general longterm strategy can be crafted including insights on product or services that company sells in order to improve it.

So how we understand business development? Let us break it down:

  • Market Research and Business Intelligence
    Activities and solutions that allows team to gather information and understand situation on the market.
  • Product or Service Development
    In the business development meaning, it is a process that allows to understand clients needs and current market fit. In result, company can shape and improve the value of their products or services.
  • Marketing and Sales Strategy
    Once we understand the market situation and we know what value we deliver on the market, we can finally build with awareness our buyer persona and decide how we will market and sell our goods.
  • General Business Strategy
    Business development activities can help owners or top management staff to build , identifying growth opportunities and shaping better strategy 

  • Other activities

organizing of the business development dept.

Process of your company development can vary between organization, depends on multiple factors. 

First of all size of the company matters. Of course smaller companies will need a little bit less complex processes and their goals will be different than bigger companies. So if you are startup, micro or small company at the beginning of your business adventure you should focus on 

Second important factor refers to the resources you have and it indirectly refers to the previous point. If your team is small,  

The third important factor you should consider in assessing a range of business development activities that your company will be involved in is market that you are operating in and you development goals. Consider , what your competition do and 

More about how to build an effective business development process in your company, you will learn in our other know-how publication. 

Impact on your business

There will be following effects when you build and implement it. Better understanding of the situation thanks to better information and data selection. More confidence in management process thanks to well developed growth plan with precisely set goals and milestones. 

To achieve this you need to cover market research and business intel. activities. three impact things but not obvious 

  • Better organization performance and value building
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  • More efficient and accurate marketing and sales business activities
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  • Better recognition of the new business opportunities
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who will be involved and benefit from it

Different departments can be affected on variety of different company departments and areas. Well established also can influence on work of different people

  • Board & Top management
    The insights provided by business development department and people working there
  • Line managers
    Business development can help managers to make better decision. 
  • Employees
    Of course business development affects the most on regular employees in the departments like sales, marketing, product, service development or project management. It helps them to improve they daily basis working performance, better understand what clients expect thanks to information sharing and be more precise in their 

Where to start with business development

A good starting point is to assess the current place that your company is at

Blackenvelope business development support

Our support is on several levels 

Business Network – Free access community

Business Development Solutions 

Business Development Consulting Services 

AUTHOR(S) OF THE PUBLICATION

Name & Surname

Name & Surname

Blackenvelope CEO
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