Lately, Business development seems to be a trend and very easily used. There ae many terms, describing business development. Further to Mr. Scoot Pollack article published in Forbes, I finally agree with someone! Business Development is not about sales, it is all about creating a long term value between the company and the client. I will go a step further and add to the following post by Mr. Pollack, that its creating a culture of “authentic care” for the customers. We don’t sell them products, thinking how much money we will earn but we provide them services /products that will make people lives better.
When my team was approached for developing or creating companies’ Business Development strategy, there were many times that I had to turn down their proposals. Definitely it wasn’t because, I didn’t want the clients, but simply I couldn’t see the value offered to people, and the most important was that the company couldn’t understand that. We need to cultivate the culture of “we love and respect our customers, truly”, in order to apply an efficient business development plan.
Many times, when my office was approached to hire us to set their Business Development strategy, I must say that I turn down many companies. Why? Definitely it wasn’t because I didn’t want the clients, but simply I couldn’t see the value offered to people, and the most important the company couldn’t understand that. We need to cultivate the culture of “we love our customers, truly”. When we have this aligment with companies, our strategy is guaranteed! Either we are working with company or individual with a person.
“Business development is the creation of long-term value for an organization from customers, markets, and relationships.
There is elegance in simplicity, but perhaps this definition leaves you wanting more. At its heart, business development is all about figuring out how the interactions of those forces combine together to create opportunities for growth. But a theorem requires a proper proof, so let’s break that statement down:
First, what do I mean by “long-term value?” In its simplest form, “value” is cash, money, the lifeblood of any business (but it can also be access, prestige, or anything else a company seeks in order to grow). And there are plenty of ways to make a quick buck for you or your company. But business development is not about get-rich-quick schemes and I-win-you-lose tactics that create value that’s gone tomorrow as easily as it came today. It’s about creating opportunities for that value to persist over the long-term, to keep the floodgates open so that value can flow indefinitely. Thinking about business development as a means to creating long-term value is the only true way to succeed in consistently growing an organization.”