People looking to start a new business have a lot to consider. Every client is different, so a strategy that works for one client may not work for another; business consultants have several strategies that will work for most clients, and they can teach businesses all about each one. In the case of building and managing partnerships, the business development team is often called Alliances.
A particular interest will be taken into how business development activities differ across company sizes and growth stages, from early-stage startups to fully-grown companies, and the various institutions that can support companies on their paths to growth.
You will need to come up with a solid marketing plan to sell yourself and your business to financiers to raise money to get your business off the ground. Business development is that first point of contact and relationships, after which customers are handed off to other aspects of the marketing and selling team in terms of responsibility.
A successful business development process is being able to get a clear and concise evaluation of the inherent strengths and weaknesses, goals and issues that face the development of your new venture. Simply said, Biz-Dev is management process that uses resources available to an organization and coordinates plan activities to achieve goals.
In a new business development it is a visionary process, in which a direction for the venture can be identified and a systematic and orderly processes can be established as part of the overall business plan. Market development involves selling more of your service or product to repeat customers.