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The 10 things you should know about Business Development

petermacadam



1. Business Development is NOT the same as Sales, but does involve it


2. You need to do a lot of MARKET RESEARCH ahead of developing business


3. Markets can be like an 'Aladdin's Cave' so choose the right ones carefully


4. Find out all the market ENTRY requirements & nuances if exporting


5. Know what SALES MODEL you would like to implement


6. The SUPPLY CHAIN can make or break you, so is VERY important


7. If exporting, choose export currency, incoterms, & have a FX account set up


8. Know & understand all your costings and 'PRICE TO ENTICE'


9. Visit potential customers regularly, be a RESOURCE and ADD VALUE


10. Be FLEXIBLE wherever possible, yet assertive when necessary

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