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What is Business Development and how can you do it well?

Posted in Business Development on July 22, 2012
There are (8) comments permalink


Every company manages business development differently. 

  • How is it managed in your organization? 
  • Is it part of sales, marketing, or as separate group all together?
  • Does your entire organization support the effort?

What do you think is the best approach is to successful business development and why?

Comments (8)

glynisrossmunro posted on: June 4, 2013

I have build and helped build three multi-million dollar companies, and regularly train and coach companies to grow profits, sales and marketing capacities.

luigi posted on: February 5, 2013

A teacher and writer, I've recently been invited to work on an urban redevelopment project here in Italy. The project I proposed is converting public buildings currently being decommissioned into housing for students and residences for 55+, both urgent much-sought needs that here in Italy is still largely unexplored. My difficulty and need is finding investors and venture capital abroad. Can anyone suggest how to help in a) suggesting the one book that is essential reading for business development; b) finding venture capital! Thank you. LM

shadi123 posted on: January 14, 2013

As the matter fact the Plan Ahead—Prepare for a New Situation is really good skill for BD this could be accomplished with the a good team preparation-participations,becuase every company source of strength lies in its peple.

Neman posted on: December 27, 2012

Business Development is BUSINESS DEVELOPMENT

TaherParawala posted on: December 26, 2012

Business Development is the heart of all functions carried out in the organizations.If Organization is not growing it is dying. Therefore for growth of any organization business has to grow, sales has to increase, Profit has to meet the expectation of stakeholders. So there may be separate department of business development but the functioning of that department must involve all other departments of organization.

Lisa Woods posted on: August 24, 2012

A good business development professional needs to develop trust in the marketplace. It is very difficult to do that when they are not supported by their own team. This trust is built by the market feeling confident that the BD person's promises can be kept, and that they are a facilitator for all sides, not just a meeting coordinator.

Senior_Exec posted on: August 24, 2012

Couldn't agree more. Business development is one of those mystery areas. Partly because different organizations define business development differently and partly because the needed soft and analytical skills necessary to be truly successful are so diverse. While the individual leading the Business Development effort needs to be very capable in all aspects of your business, nothing will get done if you don't have an integrated organization prepared to support business development's efforts. If you are lucky this is a top down mandate and each functional group is on board...but often times it isn't and it is up to the business developer to work to create the necessary relationships internally to get the job done. Great comments Nwomack!

nwomack posted on: August 21, 2012

Business Development requires a team effort, internally & externally. Everyone in the organization has to share the same beliefs in order for the company mission to be successful.

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How well does your sales team support business development efforts?