Business development is one of the functions that every company, from inception to exit, performs at one time or another. If you want more of a particular behaviour or contribution, make sure you notice it, then recognise and reward it. Make heroes of those who do business development effectively. These executives will help the strategy maker to gather data from the existing customers on their view about the company & its services.
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.
Good business development will help identify, maintain and encourage relationship building within a firm, building rapport with both suppliers and customers. Grants for business development is available as a fine array of very attractive loans to start or expand a business.
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.
From identifying target markets to gathering contact information, there is much involved with generating new leads, but a business development consultant can carry out a wide range of processes to ensure new leads are obtained on a consistent basis. Moreover, no company can house all expertise internally, thus the advice from external business professionals may at times come in handy.