In the almost 30 years that I’ve worked as a CPA, I’ve had the opportunity to see businesses go on to achieve amazing results in the marketplace and for their community and for the owners. Although you might be looking for a straightforward definition of what business development is, you need to understand that this is a discipline in continuous evolution, which has as a main driver business growth In this context, a good place to start is to define what business development is not.
Not that a business developer doesn’t sell, but it does so by creating a distribution In other words, rather than looking at the single sale the business developers try to find sales channels to tap into to speed up the process of scaling up a company.
In such instances boutique consultancy firms come in handy to for example support a particular project or give advice on matters related to a specific topic such as law, finance or HR. Larger corporations often make use of larger management consultancy firms to identify existing organizational problems and development of plans for improvement.
The sole focus of a mature sales team is to close deals with the qualified leads that are coming from either your business development efforts or other lead generation strategies that are designed to start conversations with the right potential customers.
ABC’s corporate strategy for all products was to stay at the high end of the market and this was particularly true for private label bottled water where the market is characterized by cutthroat competition and many low quality vendors who are slashing prices and selling on price rather than quality.