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Business Development

Business Development is a broad term applied to the process of strengthening ties with existing clients as well as cultivating customers in other sectors of the consumer market. In order to accomplish this goal, business development normally crosses the traditional barriers between sales, marketing, customer care, operations and management in order to promote this process of expansion on more than one level. This means the business development specialist must exhibit a degree of competence in many different areas in order to identify and capitalize on growth opportunities.

 

One of the foundational aspects of busdev, or business development, is to assess the current assets of the company as they relate to the maintenance and expansion of the business. To this end, the business development specialist will work closely with sales and marketing professionals to identify the degree of penetration already enjoyed by the company in various sectors of the consumer base.

 

At the same time, the specialist will also work with customer care professionals to assess the feedback gathered from existing clients on the perception of the company and its products. This type of activity can often identify ways to refine current sales and marketing techniques in order to capture a wider share of consumers within sectors where the business already has a presence. At the same time, the addition of the data acquired through customer care contacts may help identify applications for the product line that are not promoted at present and could lead to capturing new markets if marketed properly.

 

It is important to note that the successful business development specialist is not focused solely on making sales or keeping current customers happy. While those aspects are part of the overall picture, the development specialist will also be concerned with making the best use of the company’s resources, refining the process and function of management and various departments, and addressing any legalities that must be observed as the company continues to move forward. In many organizations, this gives the business development specialist a wide range of authority to solicit information from anywhere within the corporate structure and to influence every aspect of company function.

 

The process of business development can be applied to just about any corporate situation. Even companies that are small need this type of activity in order to remain stable and to achieve growth over time. Often, the inclusion of at least one person who is focused on the activity of business development makes it possible to capture a view of the company that is hard for people with responsibility for specific functions with the organization to achieve without

 

Nothing stays constant in this world. The technology, the web and the society always evolve. Business development evolves along with everything else and lead generation has been changing along with methods of communication. Business networks like LinkedIn have replaced old rolodexes and email have made cold calling less attractive. Yet, there are no fundamental changes in the sales cycles and risks for startups that choose to go the traditional route of knocking on the doors of large companies.

 

Looking to Expand or Generate New Business?

Business development strategies by Common Sense System will help you to identify the best means of attracting customers and increasing revenue. This may include revising your target market, developing new products or services, exploring geographic expansion, achieving growth through acquisition, or other potential options.

 

Industry Growing, But You’re Not?

What are competitors doing that you are not? Have your products or services lost buyer appeal, or are other market factors affecting your sales? Frequently, managers are too busy running the operation to analyze the problem. CSS is impartial and objective. We’re able to identify causes and recommend actions to increase sales.

 

Launching New or Modified Products?

CSS will assist you by defining who your target customers are, what they want, and how to reach them. Typically, new product research and analysis before launch costs less than 1% of the cost of "fixing" an unsuccessful introduction to market.

 

Starting a New Company or Profit Center?

Can you realistically state you have all the expertise and market data necessary to get your venture off the ground? We will evaluate your concept, help with your business or marketing plan, evaluate your competition and help you develop a unique approach to your target market, then walk you through an action plan for getting started. CSS will always be there to help you implement your plan.

 

 

Our business development action plan may include one or more of the following:

 

  • Business Development Consulting

    CSS has evaluated a broad spectrum of business concepts across a wide range of industries. Those who do research in advance will find out if their concept has realistic potential. As a result, they will invest their time and money wisely in a concept that is sound, and avoid the disappointment of investing in a concept burdened with extraordinary obstacles.


  • Feasibility Studies

    Besides an evaluation of your product, your market, and your potential, we’ll contact the right sources to find out if your concept will work. Our studies are often performed as validation of market potential for investment, expansion, or stock offerings; or done as part of due diligence.


  • Venture Capital Justification

    Similar to a feasibility study but more focused on profitability. Our venture capital justification will evaluate product potential, viability in the industry, obstacles to market penetration, profit potential and pitfalls, and ROI scenarios.


  • Increasing Sales

    We analyze your specific market niche; define customer profile and prospect potential; evaluate distribution channels such as telemarketing, direct mail, website development and Internet marketing strategies, utilization of company employed outside sales representatives vs. utilizing an independent/contracted sales force; generating leads and developing a database; tradeshow return on investment, how and where to promote your company and services. We thoroughly analyze your business and provide appropriate solutions to increase sales.


  • Analysis of Your Industry/Competition

    Economies change, industries change, and your competition adjusts accordingly. Without knowing where you stand in the marketplace, you may be losing ground. Industry trends, competitive advancements, customer perception, technological developments, legislative enactments, the global economy, and other factors may combine to effect your share of the market or niche in the industry. CSS can give you the insight to be pro-active and competitive instead of being reactive and playing catch-up.


  • Business Plan

    CSS will prepare detailed, formal reports from product concept to 5 year plan & ROI for your specific concept. We cover the topics your potential investors will expect and the information you need to plan, present and implement your business concept.


  • Marketing Plan

    CSS provides the strategies and specifics for you to develop your business and market it professionally. We work with you to develop your product concept, market niche, competitive advantages, industry trends, distribution and promotion.

CSS is a leading provider of business development services. We can help your company launch a new venture, or revive one that is stalled. Contact us to talk about your situation and we will be happy to see what we can do to assist you.