One of the basic requirements for business development is to assess the current market value, as is more related to the growth and maintenance of the company. The independent Business Development Fund investment panel, made up of 9 experienced entrepreneurs, assess fund applications. At the beginning of the week, swap these three things with a trusted colleague who is also interested in improving her business development.
Participants will develop the knowledge and competencies to identify and understand critical business drivers and current issues, develop appropriate strategies to create competitive advantage and sources of value. Value-Proposition – This is the most important marketing and sales necessity of any company.
Yes, there are some soft sales skills (qualification, negotiation, etc.) that are necessary to become a good business development professional, but at the end of the day, it’s a marketing function. In addition, you should also check references, background, experience, and salary expectation.
Thus, it is often difficult to make out what is what with respect to business development. Business owners and managers need to be open to employing people who are better than they are and different to them. The second level, is a function that is generally perceived as unrelated to sales, but integrally related to business development.
I hope that, if you can identify any or all of these within your business entity, you recognize the red flag and take heed. Ironically, most sophisticated and large companies have well funded business development departments, however, it is the start-ups, small and medium size enterprises that actually need a business development team or process the most.