“Business Development = partnerships”

“Business Developers are Collab Managers”

Lies!! I’m here to say the truth and show everyone the light.

First, Business Development is simply the procedures or actions taken to ensure that a business succeed. These actions are strategic partnerships, analysis and strategic planning, making sales and so on.

Collab and Partnership management is the process of organizing, and maintaining relationships between projects, organisations and communities.

Now the difference is that Collab Managers are focused on PARTNERSHIPS. But Business Devs on CT focus more on partnerships and it’s wrong. That’s why certain BDs get underpaid because they don’t know the other aspects of Business Development. Don’t want to be an underpaid BD? Keep reading.

Business growth is the major focus of BD. And to do so, you need achieve goals such as making higher profits, strategic partnerships and business expansion. Depending on the project, your major BD objective is to grow new lines of businesses or business expansion. But some Business Devs usually focus on creating new pies (opportunities and businesses) rather than increasing existing pies.

So what knowledge must a BDM possess?

➠ The current Strengths, Weakness, Opportunities and Threats of the company (Using SWOT Analysis).

➠ The state of the sector in which the company is in.

➠ Industry Developments.

➠ Characteristics of the consumer.

➠ New markets that are lucrative(high profits).

➠ Complimentary new markets.

➠ The long term strategy.

Now I’ve been able to clarify what BD truly is. Seen the light and curious to learn more about Business Development?

I’m Salchi and I am on a journey to master the Art of Business Development.

Follow and turn on post notifications so you won’t miss out on my updates.

“Business Development = partnerships”

“Business Developers are Collab Managers”

Lies!! I’m here to say the truth and show everyone the light.

First, Business Development is simply the procedures or actions taken to ensure that a business succeed. These actions are strategic partnerships, analysis and strategic planning, making sales and so on.

Collab and Partnership management is the process of organizing, and maintaining relationships between projects, organisations and communities.

Now the difference is that Collab Managers are focused on PARTNERSHIPS. But Business Devs on CT focus more on partnerships and it’s wrong. That’s why certain BDs get underpaid because they don’t know the other aspects of Business Development. Don’t want to be an underpaid BD? Keep reading.

Business growth is the major focus of BD. And to do so, you need achieve goals such as making higher profits, strategic partnerships and business expansion. Depending on the project, your major BD objective is to grow new lines of businesses or business expansion. But some Business Devs usually focus on creating new pies (opportunities and businesses) rather than increasing existing pies.

So what knowledge must a BDM possess?

➠ The current Strengths, Weakness, Opportunities and Threats of the company (Using SWOT Analysis).

➠ The state of the sector in which the company is in.

➠ Industry Developments.

➠ Characteristics of the consumer.

➠ New markets that are lucrative(high profits).

➠ Complimentary new markets.

➠ The long term strategy.

Now I’ve been able to clarify what BD truly is. Seen the light and curious to learn more about Business Development?

I’m Salchi and I am on a journey to master the Art of Business Development.

Follow and turn on post notifications so you won’t miss out on my updates.