Strategic Business Development
A successful, strategic business development process can be difficult to implement – we hear this time and again. One of the fundamental reasons for this perception is that so few people plan for growth effectively.
Strategic Business Development requires a solid vision and the ability to determine the staged objectives to get you there.
Then it requires a tangible plan of attack and the implementation of this plan.
It’s really important to never underestimate the power of getting this strategy down on paper. I’m a firm believer in the power of words and images to unite a team, enabling everyone to see the vision and to understand and agree on how they’re going to get there.
From there, implementing the plan of attack becomes the focus and this is where the real work begins (and usually where a team becomes unstuck!)
A strategic business development process requires the right person to drive it and in most instances that means the person driving the business development process will be focused on new client acquisition. As a result, this person will have to embody three core personality traits: Confidence, Empathy and Tenacity, in order to be successful.
No body wants to be sold to, and it’s a long hard slog, so that person must continue to be motivated at a personal level, by the team and by the organisation that they are selling.
To keep the strategic business development process alive, the team, with their ‘designated driver’, must keep on going, battling through all of the issues that arise and importantly enjoy the wins, including reaching the set milestones, along the way.
They must also be able to continually adapt and continually re invigorate the process, in order to drive towards their vision for growth.
I often hear from people, within every aspect of our industry, of the frustration that surrounds their business development endeavours.
But when you look objectively at the reasons why, it’s apparent that these frustrations arise due to issues relating to the development and implementation of a solid strategic business development plan and the ability to stick with it, through thick and thin.