Business Development Strategy

July 20, 2011

The difference between business development and “sales” is as the difference between a Mercedes and Volkswagen. - Traininguru

Business Development, or “Biz Dev.” may encompass a multitude of dimensions, including but not limited to: sales, lead generation, forming strategic alliances, creating new markets, re-engineering of “selling systems,” ‘pull marketing,’ online strategies, web solutions, social media, training & development, organizational change–even formulating new incentive compensation, just to name a few.

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Traininguru specializes in the development and implementation of proven, powerful, high growth strategies that exponentially boost revenues, increase profits, while dramatically improving employee motivation, retention, customer service–all while lowering costs.

Clearly, not every business development manager will typically handle all of these elements in the course of his or her job responsibilities.

However, from a corporate or organizational perspective, sales, marketing, HR, IT, organizational development, client services and account management should all be aligned to maximize the effectiveness of an organization’s business development strategy.

A balanced business development strategy incorporates profitability objectives in addition to revenue growth targets.

“Sales” is focused primarily on top-line growth; business development embodies revenues, profits, client retention and should be strategically linked among various key business units within the enterprise to most effectively achieve key business objectives.

In future posts we’ll continue to cover the various components of an effective Biz Dev. Strategy.

Remember…Our Biz Dev. Focus is YOUR Biz Dev.