BUSINESS DEVELOPMENT
—— Build Brands. Build Share. ——
Strategic Business Development
Do you want to become a great company?
Do you want to be profitable?
Do you want your employees to excel and prosper?
Do you want to deliver great customer service?
A YES to any of these questions leads to need for:
Strategic Business Development
Business development planning typically focuses on identifying new business opportunities,
such as new partnerships, new markets, new ways to reach existing markets, or new product or
service offerings to better meet the needs of existing markets.
This strategic planning bridges sales, marketing, customer care, operations and HR
management, with the goal of a fully integrated strategy that is effectively communicated to all
stakeholders inside and outside the organization.
Engineered for Success
Success is a mix of doing the right things—right. And all businesses (small, medium, enterprise), to become and remain successful need clear company objectives.
Some of the business issues that need to be addressed are:
Success
“It’s a little like wrestling a gorilla. You don’t quit when you’re tired. You quit when the gorilla is tired.”
- What is your vision for the company, and how will you achieve it? What decisions will support your vision?
- How will you meet your employees need for clear objectives and plans to bring the vision to life?
- How can you achieve greater operational efficiency? How do you balance those efforts
with the reality that operational efficiencies are insufficient to create competitive
advantage, or even ensure profitability. - Which customers are your greatest source of revenue and the most profitable? How can
you reach them cost effectively? What products or services should you offer, or drop
from your portfolio?
In this regard, your business plan is like a blueprint. They are used to communicate your vision,
ideas and all relevant details to those who will be working for your organization.
Your blueprint for success:
- Forces you to think through and plan for the entire business process
- Stimulates discussion and clarification of short- and long-term goals and objectives
- Prompts contingency planning in the event of disruptions or disaster
- Increases your chances of success from a possibility to a probability.
A sound business development plan inspires confidence in business partners, lenders, customers, vendors, and employees; it shows you’ve done your homework. It serves as the foundation for all marketing and sales activities. It can be used as a benchmark against which the organization’s activities are measured and held accountable.
Business Development Planning – A Continuous Process
Business development planning is a continuous process.There is no “silver bullet” or single action that will deliver success. Neither is success the result of some test-tube formula. There are just too many socioeconomic variables that effect a company’s success or demise. An objective PEST or SWOT analysis of your business and the marketplace is an important exercise. Equally important is the need to remain alert to the emergence of new trends in the marketplace, along with the ability to quickly respond to these—in every stage of the business lifecycle. In other words, a business development plan should not become a straight-jacket that impedes adoption of a new business strategy when the need for a new one becomes obvious.
PEST Analysis
The PEST acroynm stands for the Political, Economic, Socio-cultural and Technological trends and external factors at the macro level that
- Select those factors that are most likely to
have the greatest impact on your business - Forcast their development, and prepare a response to these before their arise
- Regularly track the trends and modify your
strategy as needed
SWOT Analysis
The acronym SWOT stands for: Strengths, Weaknesses, Opportunities, Threats. SWOT analysis is one of the most effective and universally used models in business. It provides a
simple yet comprehensive method for examining the strategic fit between a firm’s internal capabilities (strengths and weaknesses) and external possibilities (opportunities and threats). Unlike the PEST analysis, which is done at the macro-level and over which trends a business has little or no control, the SWOT analysis is at the micro-level; at the individual business or industry level. The SWOT analysis identifies the strengths and weaknesses (internal factors we generally have control over), and opportunities and threats (external factors that we can influence).
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About Us
Strategis Consulting Group is a single-source marketing and business development consultancy.
We specialize in developing and enhancing clients' online and offline marketing effectiveness. We help clients Aim High, Work Smart and Get Heard.
CONTACT US
Strategis Consulting Group Inc.
+1 (604) 420-4120
104-3686 Bonneville Pl,
Burnaby, BC V3N 4T6
info@strategisgroup.ca
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