14.07.2022

THREE TIPS FOR ENSURING A BUSINESS DEVELOPMENT STRATEGY THAT WORKS

Development should be among the main priorities in the first 5 years of your business, if you want to secure a stable position in the market.

However, in order to grow your business, you should have a good strategy for it. And to make sure yours is, follow these 3 tips:

1. Define what business development means to you and your business.

In order to realize certain achievements, they must be set as measurable goals. In other words, to have a numerical expression by which you can subsequently compare the initial state and the one registered after a certain period of time. So what metrics do you want your business to grow in? A certain number of sales? A certain number of regular customers? Average monthly earnings given? and other.

2. Plan to achieve the goals.

Once you've determined what your business's goals are, you need to plan how to achieve them. What measures will you take, how will you monitor their implementation, what resources will you need, etc. Of course, this plan will not be final, but will need regular revision as the situation changes. But with its help, you will be prepared and have a developed framework for action.

3. Rely on your team.

If you have selected your employees carefully and trust them, do not keep them out of your development plans. On the contrary, involve them in their development. Leverage the competencies of your staff by assigning them the tasks for which they are best prepared. Seek their opinion and ideas on matters where their knowledge and experience outweighs yours. All this will not only engage your team in the implementation of your business development strategy, but also motivate them to work. And motivated employees are precisely those who will help to realize your aspirations in business.

source: entrepreneur.com