The heartbeat of PT Envy Technologies is our Business Development division creating long term growth and profitability through certain activities which include strategic partnership, establishing business in new markets and increasing the value of a current clientele base. There are also many retail businesses that are nearly recession-proof because they sell products that are purchased by consumers regardless of the state of the economy. It largely focuses on the part of the ‘process’ where, having identified a promising technology or research strength, it is time to find external partners willing to commit resources to take it to market and structure that deal.
Business Development Strategies is essentially a marketing function, though it involves some minor sales skills like negotiation. Prepares quantitative and qualitative business cases, evaluating new products, services, or providers. After gaining industry experience and familiarity with the sector, professionals can also boost their resumes by obtaining Level 3, 4, and 5 diplomas in sales and marketing courses.
Therefore, to make business development work it is necessary to make it a process. So, whether you’re searching for innovative ways to drive business growth or you want to empower your sales team with better methods of generating higher quality leads, a stronger focus on business development is most likely the answer.
Start by carefully planning and executing a very aggressive marketing campaign that will help you reach out to those people who are most likely to buy from you. Your business can work with complementary businesses to expand your reach, product line, and services.
It pervades the entire task of marketing communication and full knowledge of the product. The salesman has to be able to find the value proposition in the product or service that most suits the potential customer on the other side. Regardless of the company, business development tends to hold the same structure, which I sketched up quickly below.