3 Steps to Better Business Development Processes

Business development processes don't have to be a puzzle. Three steps is all you need

by Rod Dunne on June 22, 2011

in Biz Dev, Entrepreneurial

The strategy your company utilizes will be the difference between success and failure, but how do you know if a strategy is capable of yielding dividends?  A strong business development process can be the change needed to boost your sales, source profitable business ideas, improve your efficiency, or expand your customer base.

Step 1: Planning business process development

This company policy needs to be well planned, well tested, and well articulated in order for every department and employee to be able to act on their requirements.

Getting in business development consultants helps – but remember that you already know the nuances of Your business better than anyone! Consultants may produce process modeling diagrams you need to understand and refactor these with the actual operational flows within your business.

Business process development allows for superior decisions to be made prior to the commitment of time and resources, so that there is less risk and less chance of a failed or wasteful execution.

Step 2: Initiate change.. using business development consultants where necessary

It is not uncommon for a new business development process to produce operations or initiatives that are completely unknown to senior management.  Such initiatives often involve a budget estimation that is too high, or an over-investment of time, or a failing communications scheme.

By bringing in expert business development consultants, any company is capable of trimming the fat off their development and saving valuable resources.

You could also consider using change management consultants (at least temporarily) to work within the company in order to re-define goals and trajectories, so that the company can earn a higher market share and gain returns more predictable on their investments. For example, identify and target online business opportunities.

What exactly does a business development process do?  Objectivity is the name of the game for consulting firms: they go in to monitor a company without any preconceived notions to produce any biases.  The trust between both parties is key, as a consultant must establish their history of efficiency while the company must prove it is capable of changing their process model.

After a period of observation and monitoring, these business process consulting experts offer the crucial feedback that will be used in forging a new model.  They may assist with its implementation and track statistics to determine how it has been utilized.

Step 3: Make these plans stick using business development training

Business development training has become a popular part of the consulting field.  More and more accountants, attorneys, or senior managers have found that their talents may be better utilized by a development firm than by a former employer.

Training new analysts depends upon individual talent for studying inconsistencies and trends in corporate data: some potential consultants are able to provide motivation or leadership but lack the critical judgment necessary for specific improvements.

As more and more companies turn to development in order to speed up their products or services, the demand for training has risen in turn.

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Author Rod Dunne...

Blog owner and sole writer Rod DunneI am the owner and sole writer on Product-ivity.com. This is my personal blog detailing troubleshooting tips for small businesses. Posts are based upon 2 decades in consultancy & innovation management within startups/maturing companies.

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