I just finished searching the web for business and marketing consultants, and even as a professional Business Consultant, I was left confused and skeptical. This is an outline of the path that you wish to take your business, a breakdown of your company’s strengths and weaknesses and a framework from which your official business development plan will be created. Let’s take market research, for example, that every business developer should do periodically to figure out how the market is behaving, and if the company needs to adjust its course.
On average, incubator clients spend 33 months in a program.1 Oftentimes, graduation requirements are set by development benchmarks rather than time, such as revenues or number of employees. Having now worked in a number of roles that you might consider as business development (BD), I thought I’d start my publishing journey on LinkedIn (this is my first post) with a bit of reflection.
Because while the internet has made it possible for individuals to market to an unlimited number of people, it has also made it impossible for any single individual to keep up with every new innovation or technology available to create and run a successful internet-based business.
However, with existing customer bases it is still important to ensure that Sales management and planning is also given attention in the business. If you get customers in the door but cannot get them to buy a product, there is a problem with your sales strategy.
Development strategies based on a strategic marketing plan for example will address a changing customer base and market dynamics, help one to understand horizontal and vertical target market opportunities and how to develop the right products, services and solutions to meet the target market needs.