So What Is Business Development, Really?

by | Jun 13, 2012 | Sales Coaching, Sales Strategy, Sales Tips | 0 comments

[vc_row][vc_column width=”1/1″][vc_column_text]At NuGrowth, we hear time and time again that people consider business development to be nothing more than inside sales reps picking up the phone and dialing for appointments. That couldn’t be further from the truth. As we maintained in our recent paper Why Appointment Setting is Not Real Business Development, at its core, REAL Business Development is not just robo dialing, it is

  • Uncovering opportunities,
  • Acting as a brand steward,
  • Building assets, and
  • Developing relationships.

Business Development professional, Scott Pollack, Contributor to Forbes Magazine has a similar view. His Grand Unified Theory of Business Development, states that Biz Dev is about “pursuing opportunities for long-term growth from customers, markets, and relationships.”  He builds on that theory in his March 2012 articleWhat Does a Business Development Professional Actually Do? stating that the primary roles of a business development professional fall into three categories:

  • Customers: Find new ones and extract more value from current ones.
  • Markets: Figure out where new customers “live” (both geographically and in terms of “buying mindset“) and find a way to reach them.
  • Relationships: Build and leverage relationships founded on trust and integrity to facilitate opportunities.

Bottom line? No matter how you define it, REAL Business Development is a comprehensive process that is a critical part of growing a business that cannot be overlooked just because field reps are too busy working the bottom end of the sales funnel or servicing current clients.   Make sure your organization gives business development the attention it deserves.

If, however, you need help or find that your organization could benefit from a business development team acting as an extension of your company – one that uncovers opportunities, acts as a brand steward for your organization, builds assets and develops relationships – NuGrowth is your solution.

If you are interested in working with a partner you can trust to grow business, please give us a call at 800-966-3051 or fill out a short contact form and we’ll be in touch.[/vc_column_text][/vc_column][/vc_row]

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