Business Development Professionals

business developmentAs part of my consulting practice, I read and review business plans written both for venture capitalists and for grant applications. All universities want to build long term relationships with businesses (strategic account management) to move beyond negotiating a series of smaller projects into something altogether more ‘strategic’ and broader. In the traditional sense, business development refers to activities designed to expand your organization’s reach into a new market – for example, forming partnerships with other businesses to sell Company X’s product to Company Y’s customers.

With the help of the business development plan you can monitor the progress of all the current programs and evaluate the efficacy of your future endeavors. Typical goals of business development strategies include market expansion, brand projection, new client acquisition, general awareness about brand, etc.

Good business development allows businesses to profit by doing something that is tangential to their core mission. Members are …