The role of Business Development in Organisational Success

Business Development in any capacity cannot be overlooked in every competitive organisation. This role is critical as the goal of businesses is mostly to increase sales, form strategic partnerships, and consistently maintain a good relationship with its clients.

The modern-day business environment is highly competitive and always demands a need to sharpen skills needed to succeed including planning, marketing, negotiations, excellent communication, project management, strategy development and implementation.

Typically, the role of the Business Development team starts from taking initiative in generating sales leads and contacts. This is done by following the sales process from prospecting or identifying sales leads, phone calls, arranging meetings, negotiating, closing of contracts, till maintaining good relationship with the client.

Bringing in new business to an organization requires research and creativity to be able to qualify a potential client properly, and to be able to identify new opportunities. It takes persistence and properly communicating the service to the client to finally secure a contract. In negotiating, it is the responsibility of a Business Development Officer to ensure that the client is getting value for money, within the appropriate budget. Therefore, he or she should have a good business sense, as well as a good understanding of the industry and marketing principles. Developing a good business strategy is necessary, as well as maintaining a confident positive attitude and posture.

Business Development requires the practitioner to have good networking skills and this is made easy by attending relevant industry related events. Referrals are still the easiest way to secure new leads, so keeping a long-term valuable relationship with the client is vital in reputation management.

The entire team constantly works together with the Business Development team in formulating and implementing business strategies essential for securing sales to the organisation.

In today’s highly competitive business environment, strategy and its successful implementation is what would differentiate one organisation from another and make one standout instead of the other. A successful Business Development strategy will ensure targets are reached, projects are commissioned, completed and handed over to the client within agreed timelines. Clients are always interested in getting value for money for products and services, by having a good balance with price with quality. A satisfied client is a returning client, and likely to give referrals and great testimonials about the team and the organization.

When the right systems and procedures are in place and followed, viable business strategies are created and implemented. The desired results can then be achieved to ensure the success of the organization.