Business Development Defined
Business development (BD) is the process that is used to identify, nurture and acquire new clients and business opportunities to drive growth and profitability. A business development strategy is a document that describes the strategy you will use to accomplish that goal.
The scope of business development can be wide ranging and vary a lot from organization to organization. Consider the model of how professional services organizations get new business shown in Figure 1.
Figure 1. stages of the marketing funnel
The first two stages of the model, Attracting Prospects and Build Engagement, are traditional marketing functions. The final stage, Turning Opportunities into Clients, is a traditional sales function. In the traditional role, business development would be looking for new channels of distribution or marketing partners.
But roles are changing and naming conventions evolve. In today’s world many firms refer to the entire marketing and sales process as business development.
Counseling for Business Expansion
Our team of experts help determine the point for growth of your business and provide all the educational material to help generate more profit by attempting to grow the size and to increase the scale of operations. Our tutorials help customize strategies for adding sales, employees, increased marketing, adding franchisees, forming strategic alliances, offering new products or services, entering new markets, merging with or acquiring another business, expanding globally and through the internet, building new production facilities, establishing a subsidiary, establishing a joint venture etc.
Business Development Education
Make Millions offers education for Business development. As a Business Development Manager, you determine where, when, how and why a company will grow. As the global business environment becomes increasingly complex, the demand for quality business development education has risen.
If an organisation wants to increase their profit, expand their business or cement new business relationships, you’re the strategic opportunist who’ll lead company growth both internally and externally. More than just well-timed networking, business development is the creation of long-term value for an organisation from customers, markets, and relationships.
Key Skills you will learn are:
- Development of initiatives and strategies to serve company and client,
- Leadership,
- Analytical thinking
- Top-level strategy for acquisitions, Investments, Integrations and global stakeholders,
- Negotiation,
- Project management,
- Financial management,
- Human resource duties,
- Relationship management and
- Client retention.
Make Millions offers education for Business development. As a Business Development Manager, you determine where, when, how and why a company will grow. As the global business environment becomes increasingly complex, the demand for quality business development education has risen.
If an organisation wants to increase their profit, expand their business or cement new business relationships, you’re the strategic opportunist who’ll lead company growth both internally and externally. More than just well-timed networking, business development is the creation of long-term value for an organisation from customers, markets, and relationships.
Key Skills you will learn are:
- Development of initiatives and strategies to serve company and client,
- Leadership,
- Analytical thinking
- Top-level strategy for acquisitions, Investments, Integrations and global stakeholders,
- Negotiation,
- Project management,
- Financial management,
- Human resource duties,
- Relationship management and
- Client retention.
Strategizing Business Module
Understanding customer’s need, identifying your core competencies and deriving your value proposition are among the first building blocks for sustainable business development. Our experience in strategic ideation helps on these core aspects of business planning.
Building Projects/ Businesses for Sale
For those apprehensive about pursuing a new business initiative from scratch, Make Millions offers ready-made tailored projects and even full-fledged businesses. With the foundation for your company and products set and the main idea of how your business will generate revenue in place, you can start earning from day one. Your company’s goals, the resources and methods you will use to achieve those goals, and even your expected timelines and financial performance are explained to you in great detail.
Arranging Finance
Money is the most critical element in starting and running a business and an entrepreneur has to find ways to get funding for his business. There are different options that an entrepreneur can look at to fund his small business and each come with its own pros and cons. Make Millions offers financing solutions that just right for you.
Mentoring For Successful Business Sustenance
Every company wants to grow their business, yet few know how to sustain it for the long-term or look beyond the next quarterly or yearly report. Growing a business requires the right intellectual capital, carefully selected strategic partnerships, and products and/or services with strong marketplace demand. Beyond these fundamentals, sustaining growth requires a strong operational foundation – to reduce the risks to the business over time. Make Millions offers carefully strategized solutions for successful sustenance of your business.
Improving and Upgrading Business Skills and Setups
Is your business at risk of being left behind in this increasingly competitive digital age? Are you failing to meet the heightened expectations of the modern consumer? Even if you’re flushed with success at the moment, you could still benefit from refining your current processes and upgrading your operations using one of many tools and softwares available to you. Make Millions provides consultation for cost-effective and easy upgradation of business processes for enhanced profitability.
Corporate Arbitration
Make Millions acts as an arbitrator, negotiator and counselor to help strategizing and solving corporate crises and disputes.
Arbitration is a medium which provides an effective and expeditious dispute resolution framework unlike the Court proceedings which takes number of years in resolving disputes between the parties. Parties submit themselves to Arbitration, as it enables a faster, cheaper resolution and disposal of the disputes between the parties and leaves very little scope for prolongation.
Strategic business development
is the alignment of business development processes and procedures with your firm’s strategic business goals. The role of strategic business development is to acquire ideal clients for your highest priority services using brand promises that you can deliver upon.
Deciding which targets to pursue and strategies to employ to develop new business is actually a high stakes decision. A good strategy, well implemented, can drive high levels of growth and profitability. A faulty strategy can stymie growth and frustrate valuable talent.
Strategic & Tactical Planning
The strategic planning process is an extremely important executive function.A well designed strategic plan is the one to be used to achieve the following.
- Align the efforts of the entire work force
- Reinforce the culture of the organization
- Share management’s view of where the company is and their vision of where the company is going
- Define long term and short term goals
- Set clear measurable milestones that mark progress towards important goals
- Define metrics that can be used daily/weekly to measure short term progress and afford accountability
- Define clear accountability for goals and objectives
- Guide decisions and actions throughout the year