What is Business Development? Our Commitment

Business Development works to produce long-term growth and profitability. Business development determines how much a business will grow, where that growth will come from, and what approach is needed to attain that growth

 

The main activities are: 

• Establish the business in new markets

• Generate significant partnerships

• Improve the current customer base. 

 

Successful business development involves a mix of negotiations, marketing, project management, sales, networking, and reviewing contracts. 

 

Business Development is a strategic look at a business with the primary question being “What will create greater value?” and sometimes, “What is the future?.

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What is Business Development for me?

To me is looking for new opportunities to build growth, looking for synergistic partnerships.

Business development is about creating opportunities! Marketing, establishing partnerships and relationship management are all tools for business development. It’s about discovering untapped markets that a company can serve.

 

What are the main concerns on Business Development for me?

 

Me and others, Business developers are asking themselves questions such as:

 

• Where else can we discover customers that we currently serve?

• What other verticals can our product/or service deliver its value to?

• What changes got to be made to the product/service to unravel other target audience’s problems?

• What needs do existing customers experience that the corporate also can solve with its core competencies?

What is necessary to do in Business Development for me?​

 

Develop your strategy, be clear what you want and how you are going to get it, do your current state assessment.

Set goals for what you want to achieve, define the work and timescales, plan and plan, measure progress.l

Present a clear proposal on the benefits to the client of your product or service.

Understanding your market/sector and the specific needs or problems faced within it.

 

What are the functions of the sales department?

The main function of sales is to sell directly to the customer. When developing a sales strategy, there are several important elements to consider. Firstly, it is important to determine whether your company can execute the plan independently, how much it will cost to execute, how long it will take to see results, whether or not you have the necessary resources, and how the results can be measured. 

 

Conclusion:

Hence, a freelance business development is more about strategic thinking and sales and marketing are more about execution!