What is Business Development?

Too often, I have encountered business managers hiring Sales people and classifying them as Business Developers. The same holds true when managers call their Sales people Marketing Professionals. Main reasons behind this misclassification are twofold: First, many people DO NOT understand what the differences are between sales, marketing, and business development. Second, organizations do not accurately recognize which of these functional areas need help to drive revenue and how they compliment each other. These misunderstandings of disciplines cause unrealistic expectations and failure to achieve goals.

Business Development (Biz-Dev) is often misunderstood. It is often times mistaken as purely a sales role and other times as a marketing initiative. Well, it is a little of both, but it is also much more. Understanding what Biz-Dev is and what it does can focus the strategic direction of an enterprise, which ultimately creates new opportunities. Biz-Dev can be sales oriented, but it also can act as an operational function to support sales. Biz-Dev supplements marketing, sales, operations, and management. All of these functions are dependent upon each other. Biz-Dev is part sales, part marketing, part strategy, part planning, and part management. Biz-Dev can also work on promotion of an enterprise or even relationship building functions.

Isn’t a business developer’s main job expected to generate sales? Isn’t the lifeblood of business driven by sales? Yes, the ultimate business goal of an enterprise is to gain and grow sales. Even non-profit organizations need to raise money to survive. Without sales there is no revenue, without revenue there is no working capital, no working capital means no sustainability, and so forth. However, all units in an organization affect the outcome of sales. A company must define its purpose and objectives within their business plan. Upper management must communicate directives to staff and control processes. Employees are accountable to perform duties within their unit of responsibility. All units must work cohesively with their output contributing to the common goal of the company. For example, marketing cannot initiate a promotional campaign without input from finance, otherwise budgets and production costs will soon run into chaos.

Simply said, Biz-Dev is management process that uses resources available to an organization and coordinates plan activities to achieve goals. Sometimes the goal is increased sales, but other times an organization needs improvement or aid in another part of its operation. Examples that are not exactly sales oriented include business planning, administrative refinement, market research, finance, general management, and more. The bottom line is Biz-Dev can perform multiple initiatives to achieve a goal that will improve a functional business process resulting in opportunity. Think of Biz-Dev as project management for sales.

Understanding the various roles Biz-Dev can perform will improve the focus of your enterprise and help achieve its goals.

Watching a Business Develop Around You Is a Gift

Are you wasting time getting your business off the ground? The time we spending on building a business is never wasted. Entrepreneurs are consistent in their business efforts. So why does it take some of us longer to see the results? Is there something we’ve missed? No, it is not a race, you will see others there before you and that’s okay. Be happy for them, ask them how they did it. They are happy to share and you maybe surprised at what they tell you.

Everyone can start with the same opportunity, the way you approach it is different. Some of us have a wider learn curve then others. Training is your part of the equation. You have to take what you have learned and act on it. Learning is not a waste of time unless, you think it is. If you feel that it is,your letting your emotions over ride your thinking process. You have to stop giving your emotions power over your decisions. If you are having a negative emotional reaction, it is because your not getting what you want without doing the work that it takes to get there. If you are busy worrying about someone else you will never see what you have in front of you.

People that feel like they are wasting their time are busy complaining. They are not doing what they need to do to get the results they want. They are still hoping that someone will come in and do it for them. Building a business is work. When you feel discouraged, you are not feeling the rewards for your efforts. What are you thinking, you can’t complain and have a positive out look at the same time. Whining is a negative act fuel by emotions. If your personal business development is lacking momentum you are the only one who can change it.

Adding a new training task to your list that will benefit you and make it easier. You can start building up your tool box with positive acts. Volunteer or go out and do an act of random kindness if you want to feel good about something. Only you can move forward, I can’t push you or hold your hand to success. You are the secret to the success of your business or your career. Fitting in to the role as a success person developes as you act on the training and the informed decisions you make. Exercising positive thinking because if you are only putting your toe in to test the water, you may never get in. What I learn today I can use to help someone do what I do. It is part of my business model.

Be too busy to dwell on negativity. Everyone is different so their challenges are different, Waiting for your light bulb moment will keep you in limbo. Everyone that sticks to the training long enough is going to see results. When your moment happens you will be ready because you invested on it. People, you have to carry out the training or it will not work. Entrepreneurs do not get paid for time. They get paid for results. Entrepreneurs really are too busy to worry about your negativity, they focus on whats important.

Watching a business develop around you is a gift. You will see it if you stay positive through the experience, you are the secret to your success so don’t give up. When my business changed, it was when I realised that I am the business. I have to take this to the next level and treat this like a business not a hobby. I am responsible for the decision I made. Most entrepreneurs can tell you when things stared turning around for them. Now when an opportunity comes they are ready. The reason they can do this is because they are positive thinkers that are successful because the took advantage of the opportunity in front of them. They look at it with an open mind and then zoom in on the facts taking emotion out of the decision-making.

Training your mind to take action is the way an entrepreneur’s mind works. You can teach your mind to leave emotion out of your decision-making. You start by training it to take action on facts, so it doesn’t react to emotion. You want it, doesn’t mean you need it. Take some time, up to a day if you need it to make decisions. Give your brain time to wrap around it. Listen to your gut as the facts unfold and you will make the right decision. A business mind will zoom in and out putting their focus on what is the best decision for the business and the people the business supports. Leave the emotions at the door and look at all the ways you can make a positive impact versus a negative one. Celebrate small milestones as much as the big ones, because they keep your momentum growing. Be positive take one day at a time and keep the future where you can see it.

Business Development – Solve Your Problems Before They Become Problems

Through 35 years of service to companies ranging in size from start-ups to the Fortune 50 I’ve found that the one thread binding them all together is the never ending pursuit of a greater return on the money they spend on business development. Some give up and accept mediocrity thinking that’s the best they can do. Others have obtained a higher level of return but know they could do better if only… They’ve all spent time and money treating symptoms with processes, training and tools that represent a generic approach that tries to address the most common problems of the most common companies. They fall prey to the latest management fads but nothing seems to last beyond the initial euphoria of something new. Like a child with a new toy, once the shine wears off things pretty much return to the same old patterns and process with the same old problems.

Often the reason companies find themselves in this never ending quagmire is that no one ever thinks of examining the fundamentals or bothers to identify the root cause of their dissatisfaction. More often than not the real reason for the dissatisfaction is that the company has forgotten why it exists. It was never instilled in the staff and was never embraced as a way of life.

Every business is built on three basic cornerstones: the core (which consists of all the fundamentals like mission, vision and values), the people, and the systems, processes and tools necessary to enable the people to accomplish those items in the core. When operating in unison the company is in for a smooth ride. Now imagine the three cornerstones form a wheel. It’s easy to see that if any one of the three is out of alignment, the ride is no longer smooth.

To bring this back to business and, in particular, business development, every decision made or action taken, that doesn’t reflect the business core, forces the wheel out of alignment. It follows that if an account rep doesn’t really know the company’s mission, vision and values, and if they don’t know the company’s goals or their place in achieving those goals you may end up pursuing an opportunity that you don’t really understand. It won’t really fit and the problems associated with being in this position ripples throughout the organization.

How do you prevent falling into this trap, how do you stay focused? To start, from day one company fundamentals should be drilled into every employee and they have to become a living part of day-to-day life. The number one question that needs to be asked before committing to a business opportunity is “How will this opportunity put the company closer to living the mission, vision and values” followed by “how will this opportunity help us meet our current and future goals”?

Those opportunities that fit your model are worthy of your time and money; those that don’t open the door to trouble.

What Makes A Good Digital Signage Solution?

If you want to find the best digital signage provider then you must first know what makes a good digital signage solution. At first glance, you would think that all companies who offer these systems are all the same. Even their products and services look the same. But a closer look would reveal that these companies are not created equal. And that is why you need to choose a provider carefully. You need to know the traits of a good provider and that is what you will learn here.

the Word Good Is Subjective

First of all, you need to understand that the word good is subjective. What is good to some may be bad for others. You should choose a digital signage solution based on your needs. This is why you should have a list ready of the things that you need from a provider. A good solution should also be affordable. If you are just new to this form of advertising, then it is not advisable that you spend a big amount of money right away. Expensive does not necessarily mean better. If a provider is cheap but meets all your needs, then by all means, hire that provider.

Flexibility

A good digital solution is flexible. This means it should be able to adapt easily to the ever changing world of advertising and promotions. It should be able to handle many different kinds of campaigns. Avoid solutions that are cheap but will not last you for a long time. Invest in a flexible solution. This will save you money in the long run. As an advertiser, you should be aware that content changes all the time. If you will get an inflexible solution, then you might find yourself buying new solution for your other needs. That will definitely cost time and money.

Affordable

A good digital solution should not cost you a lot of money. If it cost a small fortune, forget about it no matter how good the system is and no matter how extensive the service is. A good digital signage solution gives good value for money. You should know exactly what you are paying for.

If it is your first time to go to digital advertising, then you should not put all your money in it. Indeed, advertising is important but it should not break the bank. These are just some of the traits of a good digital signage solution. I suggest you search for the best company that will help you in finding the most suitable solution for your business.