Business development is a subset of field commerce and involves a set of techniques and responsibilities which aim at researching new types of business, attracting new customers, and penetrating existing markets. The role of a business development consultant is to isolate new products and services especially focusing on identifying gaps with the purpose of better fulfilling the needs of the clients.
Business development involves the assessment of a business and understanding its full potential employing a number of tools including marketing, information management, and customer service. Business strategies turn prospects into actual outcomes and only a reliable business consultant management can manage such tasks. Venture capital is turned into lucrative capital and results will not hesitate to appear within a projected time frame.
A business development consultant has numerous responsibilities including:
* Collecting intelligence related to customers as well as competitors
* Creating leads for potential sales based on the gathered information
* Advising on, designing, and implementing sales policies
* Following up sales activities
* Drafting formal proposals
* Presentation management
* Designing business models and strategic analysis
* Account planning and monitoring performance
* Development of propositions and campaigns
Big corporations have created their own business development division but the reality is that most businesses will go to companies which provide specialized business development consultancy through highly qualified professionals. In that case, the business development consultant becomes a key individual in the growth and proper management of the business. Such a professional is most likely to have expertise in of the following fields: investment banking, financial services, or management consulting.
A business development consultant must possess a number of marketing skills, financial abilities, strategy development attributes, legal knowledge, sales experience and in depth expertise in proposal or capture management. In this new light, the personality of a business development consultant is rather complex, capable of expanding a business engaging both traditional and unexpected solutions.
In the end, the utility of a business development consultant is to develop new business and generate new clients so as to survive in this competitive market. To achieve their goals, professional business consultants employ a number of strategies, techniques, and software programs depending on the particularities of each case. The industry arising around the business development concept consists of a variety of companies which struggle to provide targeted solutions for each business.
Gary is a professional executive with deep industry expertise across numerous industries. He specializes in turning businesses around by growing revenues, increasing margins, reducing costs and generating free cash to reinvest in the business. Mr. Challinor is a natural communicator who always keeps all stakeholders involved in both the process and the progress. During his collegiate career, Gary earned a Master’s degree in International Finance and a Bachelor’s degree in Business Administration.