Your Business Development Strategy – Refine Your Plan

So you had a good year last year, that’s a good thing. What do you think was missing that kept it from being a great year? In his book, Good to Great, Jim Collins says “Good is the enemy of Great”. Oh great you say, it isn’t enough that I had a good year, now someone wants me to be perfect. No, not perfect, just great! And why not, after all when you started your Business you likely had a vision or dream about how you were going to do things differently, bigger, better, faster than anybody else. You were going to make a difference, innovate and dominate, leave a legacy that would live long after you left the scene.

What will become abundantly clear when you are growing your company is that the work will be hard and much of your time will be sacrificed to make it happen. The learning curve will be very steep at times, but the reward will be sweet and worth every moment you have to wait. For those of you that think success will happen overnight, you’re probably better off buying lottery tickets, the odds are better. The concepts of business development are not just some irrelevant abstract theory, they are essential to the future success of your business.

The truth is, most Businesses are quite simple to operate, just not easy to do. Almost every Business operates on the same model of gathering customers through various marketing strategies and then having an effective conversion process or sales system to create a new customer. The next step is to implement customer service systems to serve them well, keep them coming back and become raving fans for life. We must also have an effective Human Resources division to select, hire and train our personnel to perform the duties and responsibilities of the various positions. All of these areas affect your business development and management.

Ideally, with a fully executed Business Development Plan, we would have a policy or procedure for every operating component of our Business, a system that would ensure smooth operations. A system that would allow the Business to operate with or without you being there. Finally, we must understand our financials, manage our fixed and variable costs and keep the cash flowing. All of this of course hinges on one critical component. That component is your leadership. You must create a culture that rewards and empowers your team to be their very best and to have them constantly seeking ways to do better than before. All of this must be done while juggling your family life, personal interests and maintaining excellent health!

Simple enough right? Just not that easy to do! So where do you start on this road to greatness? The question our clients hear us ask all the time is “How do you eat an elephant?” “One bite at a time!” That first bit is creating your business development plan.

So in the interest of greatness, take a few minutes and do the exercise below. This is the first step in forming your strategy for Business Development.

The Work/Career Wheel

Draw a circle on a piece of paper and divide it into eight sections, like a large pizza. On the outside of the wheel above each slice, write the following points; Marketing & Sales Processes, Customer Service Strategies, Relationship with Employees; Understand Your Financials, Systematization of Business, Organization & Time Management, Leadership & Vision and Work/Life Balance. These represent the most common ares of business development.

For each section of the Work/Career Wheel, score your sense of satisfaction on a scale of 1-10 (10 = very satisfied). If an area doesn’t apply, replace it with a more appropriate label. Once you have scored all the sections, identify the top three areas that you would like to target. Ask yourself the question “if my current score is ____ in this area, what would a 10 look like?”

I hope this has been revealing and at the same time encouraging that you can build a successful Business with an effective business development strategy. At the very least,set aside 1-2 hours each week to work on your Business in the areas you have identified as priorities to help improve your Small Business Management.

Business Development Strategy – The Absolute Best Business Development Strategy Ever Created!

Are you ready to learn the absolute best business development strategy ever created? Attraction marketing is the absolute best business development strategy known to man. Now that you know the answer, I am going to explain to you why.

The main goal of any business is to attract customers. People spend tons of money on advertising to gain exposure for their business, hoping to make some sales. What if I told you that there was a free way to do this and it could be done on complete auto-pilot? Would you believe me?

You are your greatest asset. Attraction marketing brands you as the leader, and brings prospects to you on complete auto-pilot. All you have to do is constantly put out valuable content (information that people need), and people will search for you, they will literally hunt you down.

The reason attraction marketing works, and the reason it is the absolute best business development strategy ever created is because you are not pressuring people to buy a product or join a business. You literally ATTRACT the people to you that are highly motivated, and highly interested about your business.

When you are the first person to introduce someone to something new, something that they can definitely use to make their life better, it is easy to make a sale. The beauty of attraction marketing is the content that you are giving away can be tailored to attract absolutely anyone and everyone. Whether you want to attract the people that are new to this industry, or the people that have been building businesses for years, everyone has something to learn.

Attraction marketing is a lot like good customer service. You help other people, you brand yourself as a leader, and those people will be loyal to you until the end of time. The best part of attraction marketing, and one of the main reasons why it is the best business development strategy out there is because you already own everything you need to get started.

As I said earlier YOU are your greatest asset. You just simply need to invest in yourself. The more valuable the bigger your business will be. So by working on your personal development, by learning all you can about things like success, business building, attraction marketing, etc, you are making yourself so valuable to other people that they will buy anything that you tell them to.

Attraction marketing is that absolute best business development strategy, once you learn how to use it correctly. People are naturally greedy and want to keep what they know to themselves, but once you get over that, and learn to give without expectation you will see drastic results in ANY business.

Creativity And Innovation Are Indispensable Ingredients In Human Development Strategies

The creativity and the innovation are indispensable vital ingredients required in the sustainable growth of both business development and management companies.

As a direct consequence of the speedy globalization of every facet of the affairs relevant to the economic and business development, creativity and innovation have been identified as two most powerful tools in resolving negative issues that might affect business development and management companies in existence world wide.

On flash back to the origin of human race since the era of hunter gatherers, creativity and innovation inherent in human beings have helped them for their survival amidst numerous challenges caused by the inclement weather patterns and ferocious animals they had to share in the wilderness. Similarly some primitive groups of human beings existed in the prehistoric eras miserably failed to survive for lack of creativity and innovation.

This has become a truism having universal ramifications applicable even in the scenarios of failed states and successful states in the world today. Some countries in the world have emerged as economic giants while certain other countries have lagged behind. The secrets of the success stories of the economic giants could be attributed to the human development strategies of those countries successfully achieved through creativity and innovation.

Industrial Revolution originated in Great Britain was an instance of transformation from agricultural to an industrial nation and this shift was primarily due to the creative and innovative ideas of the business magnates existed in Great Britain during the industrial era.

All those countries who embraced industries as the ultimate solution for economic development gradually identified that creativity and innovation as vital ingredients for human development.

Today human development is considered as the strongest pillar on which rests the business development and the survival, growth and the expansion of management companies and the business ventures.

Industrial giants which have already invaded the global economy such as Microsoft,Samsung Electronics, Apple, Royal Dutch Shell Co. Automobile Industrial Magnates such as General Motors, have reached the zenith of relevant spheres due to human development strategies fuelled by creativity and innovation.

It is of paramount importance to identify both the negative factors having detrimental effect on creativity and innovation and the positive factors promoting creativity and innovation by the HR Managers if they are dedicated towards the human resources development of their business ventures.

The human resources managers employed in any business venture should pay much attention on the vital strategies required to promote creativity and innovation in a company rather than on mundane affairs like payroll activities and policies.

Innovation is not confined only to do research on high -tech methods but to explore diversity of opportunities and to seek numerous avenues to obtain ideas. opinions, suggestions as well as criticisms in addition to team work.

Historical annals on world’s leading inventors reveal that they had employed teams of talented people having creative and innovative ideas on relevant fields. Collaboration of all employees from down to top irrespective of the social strata or the position they enjoy can be considered as a prerequisite for human resources development.

If you do research in order to investigate the issues that retards the growth of any business or an industry, through interviews you are sure to obtain from even minor employees, the reasons affecting the growth or the downward trend.

Thus it is of vital importance to obtain the innovative ideas even from the minor employees to improve the business development and management companies. Congenial atmosphere should be created in business ventures to promote creativity and innovation.Today it has become the trend to obtain external opinions and ideas relevant to creativity and innovation from all and sundry for human resource development.

Similarly it is a crucial factor to recruit employees having the expertise on the relevant fields and to provide them extra incentives to retain them in the company.

In the highly competitive global business sectors, the growth and survival of business development depends only on cutting-edge human resources strategies.

Bottom up management create congenial atmosphere in promoting creativity and innovation and in addition the feeling of ownership of all the employees in the long run pave the way for the upward trend and the growth of every facet of the business development and the management companies.