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Business development is about improving an enterprise’s presence in the marketplace. It identifies and implements plans and processes to increase sales and market penetration.

The business development process often includes:

  • Analysis of existing development and marketing processes.
  • Identification of new markets and networks.
  • Develop processes to increase market penetration and diversification.

Strategy and business planning - is all about long-term plans and decisions and typically includes:

  • Identifying long-term market and business trends.
  • Your current and future aspirations.
  • Policies and action plans to achieve desired outcomes.
  • Key performance indicators and progress monitoring.

Benchmarking - compares your business performance against industry best practice and typically includes:

  • Identifying what is to be benchmarked and how data will be collated.
  • Identifying performance gaps.
  • Implementing plans to improve performance.

3 ways to create a successful business

  • Measure - if you can't measure it, you can't improve it.
  • Manage - compare to industry benchmarks and manage change to drive results.
  • Improve - once you measure, compare and manage it, you can incrementally improve it with each cycle.