Frequently asked questions about strategic business development

 1. What is Strategic Business Development?

Strategic business development aligns all your business development leadership function, process, and activity to create long term value and relationships aligned with the goals, ambitions, and brand defined within your company strategy.

2. How is that different from Business Development?

We do not see them as being that different. Business development is still looking to identify new opportunities for new markets, sectors, products, or services. Business development supports all activities that make a business better over a shorter term. In most construction businesses, this lifecycle might be two years. 

Strategic business development embodies all the aspects of business development. The emphasis in strategy is on long term value and relationships that shapes and moulds game-changing transformational future growth opportunities and customers. The life cycle here is a minimum of five years. 

3. What insight can you share into what makes a business development executive tick?

Successful business development managers will challenge convention, push boundaries, persistently pursue and inspire creativity in the way that people think. 

This drive, desire, and determination for troubleshooting to find a better way and search for opportunity are defined as being part of a growth mindset and perceived as giving an insight into the future. To see the deal early and get others excited about the possibilities is a unique communication and engagement skill. 

4. What is your viewpoint on what customers think about business development people? 

Your future customers first impressions are cast by the window or lens they see into your company through your business development people. Your people should make your future and potential target customers think and feel ‘wow’! How the relationship is fostered and then nurtured will show a customer many things about your company. People buy people.

5. What is the best way for our business development to find out information and intelligence?

Online resources offer a rich source of analysis and research but are no substitute for meeting decision-makers and influencers. You can never ask too many questions; always make these sessions about the customer.

6. What insight can you share into why strategic planning is essential?

Context and motivation are essential. Strategic planning and business management consulting insight can help frame research, intelligence, and analysis. To show the intended audience, you provide a vision of the future, which is particularly important for those who are not confident or comfortable looking too far ahead.

7. We constantly get distracted in our strategic planning sessions; what is your viewpoint on this?

You are about to think about making the most critical investment decisions in your company over the next five years. Invest the time. Step out of your day-to-day environment and set aside quality thinking time to create more successful strategic planning. Stack those phones and tablets and immerse yourself.  Let us be your helping hand to guide you through each phase of the action plan.  

8. We always struggle to communicate and engage our people with the messages we need them to understand from our strategic plans?

As a successful business development leadership advisor, I would suggest.  If your business plan cannot be explained and summarized on one page, it is too complicated and will not be owned or used widely by others. Your people will be asking one question when you communicate your strategic plan to them – What is in this for me?