Business development relies on exploiting the opportunities that are presented to you and your company.
To formulate your business development strategy you should decide what your company should excel at and how that affects processes, people and customers. You also need to be clear about who controls the implementation of your business development ideas, and who monitors goals, actions, measures and progress. Perhaps most significant of all, you have to decide whether to be radical rather than incremental – are you revolutionary or evolutionary?
Small business development contains a paradox – if the business turns out to be successful then it won’t be so small any more. The challenge, then, is that of developing a small business to grow while retaining the elements that made it successful in the first place.
For more on business development, see the articles below.