Business Development can be related to digging the foundation for a new house in sandy soil. It is those tasks that should be done before the house can be built and before the concrete can be cast to form the foundation. The one cannot exist without the other and casting a foundation with too little cement will only result in cracks in the walls at a later stage, because the foundation is giving in.
Goal setting is essential and similar to when you set out on a journey, you need to know where you are going. You don't have to see your destination but you do need to know how to get there. Good goal setting will save a lot of time and money.
In order to achieve business goals clear objectives have to be established which can be used to compare and measure against our goals, to determine if we are making progress.
Once we have clear goals and precise objectives we can determine which strategies we will employ to achieve those goals.
During all of these tasks we will also need to set priorities to determine which tasks are more important than others and which will get us closer to our goals and objectives. Some of these tasks we can delegate to other stakeholders.
Now we can take action, but action without feedback and measuring what we have done is inefficient. So the process of taking action, collecting data, comparing the data with our goals and objectives and making small changes all forms part of business development
This whole process is ongoing and never ending and can also be seen as continuous improvement, tweeking a process here or there to achieve a better result.
Business development is a slow process. Small incremental steps that increases sales in order to increase profit and ultimately growth of our business.