business developmentSo many professional service firms we meet bemoan the track record of most of their folk in developing new work and new clients in attractive niches. Organisation development and the requirement to provide employees with the guidance they require to change roles in the workplace often inspire companies to take advantage of business coaching. Now that we’re clear about the separation between business development vs sales, let’s talk about how the two roles should best work collaboratively together, for maximum effectiveness on your sales team.

However, to make the sales efforts effective you’ll need to make sure your sales force has a plan, a strategy and a process to follow. Large management consulting firms offer a more diverse set of services compared to boutique consulting firms and are often international in scope.

For this to continue, companies need to include trade finance in their business development strategies. Most times finishing can be the most difficult part of completing a professional development plan. In the table below a classification of business development institutions are plotted out, based on the various stages in the company life cycle.business development

Market penetration and market development are key parts of a business development strategy. In many companies, the business development department often aligns more closely with the marketing department than the sales department. The first thing that you need to do is to generate leads for your products and services.

Selling: Closing deals (ideally with pre-qualified leads from your business development team to save time) using solid arguments and objection management with prospective customers. It also includes developing strategies to use a company’s USP to the right target group using the right marketing approach, and to acquire new customers as well as bind existing customers to the company.