Resourced Leaders

'Resourced Leaders' is a premier Australian based Leadership Performance organisation that specialises in working with senior executives, leaders and high performing individuals who aspire to greater levels of personal leadership and success.

Business Development - strategy or chance?

Posted by Phil Owens
Phil Owens
Philip is one of Australia’s leading performance and leadership specialists. He
User is currently offline
on Wednesday, 20 March 2013 in Leadership

How do you, and your organisation, approach business development?  That is, how do you work to grow your business?  

This is an important question I have been asking leaders recently, and the responses told me much about the current success and outlook in the businesses.

Consider how you plan your business development approach:

  • Are you a 'shotgun marketer'?  Spray your marketing efforts in a wide arc hoping to 'wing' a few customers and bring them to ground?
  • Or are you a replay marketer?  Do what you have always done?
  • Or maybe a 'shiny things' marketer?  Are you the type that was the first on Facebook, Twitter and any other 'shiny new' marketing idea?

 

 

 

Business Development is something that is a necessity in any business.  Whether you are a local pizza shop selling to the neighbourhood, or a major corporate selling around the globe, the way that you think about business development will have a massive impact on the success of your business.

 

Working with many organisations on business development, it has become clear that there are lots of areas where organisations can become more efficient and effective in developing their businesses, and setting themselves up for long term success.

 

 Here are a few tips and ideas that can challenge and support your thinking:

 

  • Business development is a strategic responsibility.  You can either plan it or leave it to chance.
  • BD is not just about attracting new clients, it may be about growing your current clients, stopping 'leakage' or developing whole new segments. Know how you want to develop your business, and why.
  • Different types of BD require different resources and skills.  'hunters' are very different to 'gatherers', but they can both be useful depending upon your circumstance.
  • Have a specific way that resource is applied to bd ( do you have a sales team, or do your consultants apply 2 hours a week to BD activities, for example?) BD needs to be planned, performed, measured and reviewed.  Performance management is critical in business development.

 

 

 

When you consider these questions, how does your BD efforts measure up?  Is BD an 'accidental tourist' in your business, or is it the by design?

What can you do differently to grow your business more efficiently and effectively based upon some of these questions?

 

 Stay resourceful,

 

 Phil

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Philip is one of Australia’s leading performance and leadership specialists. He honed his skills working with executives and leaders around the world, coaching and consulting in over 30 countries, from entrepreneurial start-ups to boards of multi-billion dollar businesses.

Comments

Phil Owens
Phil Owens
Philip is one of Australia’s leading performance and leadership specialists. He
User is currently offline
Phil Owens Friday, 15 November 2013

I was going to delete this...

Harinder, what a STUPID thing to do. Post an ad for your product here. First off, being completely unrelated to the topic, you damage the SEO value. Second, the post is about leaving your business development to 'chance'. Here is a perfect example of a stupid, ill directed attempt to get promotion and build your business. It shows how NOT to be authentic, strategic or value adding to your clients or the community. I will leave your post up so people can really appreciate the ridiculous nature of such an attempt - and suggest that you are exactly the sort of company my blog readers should avoid.

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