The function of business development consulting is to help businessmen and women to understand where they are right now with their businesses, and to develop a plan to stay on track. Business development involves all tasks and processes concerning both the analytical preparation, monitoring and support of growth opportunities. In many cases this role is a liaison between sales, marketing, procurement, and management. A company must define its purpose and objectives within their business plan.
But like any business, care is required to develop the business in a profitable way and the best way to do this is to establish a focused business development effort that utilizes the tools and techniques established by successful business. When it comes to generating or stimulating growth it will be a marketing and sales led process that will start with positioning the business and ensuring the products and services are right for the market.
2) ECONOMICS: The second most likely reason to hire an expert business development consultant is saving money. The strongest objection to the separation of a sales force into hunters (new business development) and farmers (Account Management) is that it makes for an awkward transition for the customer after they have signed on the dotted line.
The return from any money spent in business development will be diminished if the business is unable to move beyond its initial growth spurt into a sustainable trajectory so its important to asses the organisations resources and infrastructure to determine if they can meet peek demands and avoid have supply being overtaken which may severely affect customer relationships.
We must first look at the business development process itself. So, companies need to concentrate more on their development & hire for development professionals if it seems impossible for them. Developing the business should be a stepped process where each stage builds on the last.