Author: Chris Jenkinson
Whether your business is in the UK, the United States, Asia, or elsewhere, you need a business development strategy. You need a living and breathing strategy that you can adjust as time progresses. Improvement has to be a culture rather than a task. It's no longer enough to simply service your existing customers. Complacency has never been a good thing in business and it is a dangerous trait in the 21st century. A strategy to continually develop will help you in several ways.
Beyond servicing your existing clients, you need to develop your business for two reasons:
1.To keep the loyalty of existing customers and retain their business
2.To be able to attract new clients.
Growth is important. Your market place and consumers continually evolve. By looking at this on a regular basis you can make sure you make the most of your ability to compete.
Brand loyalty isn't as common as it once was. For that reason, business development has to be a constant. Many businesses now hire development specialists. Some prefer to use a consultant and in that case they will hire consultants to help them strategise and then execute those new strategies to develop existing clients, get repeat business from them, and go after new clients and new market segments.
Are You Ready to Grow?
A lot of small businesses want to grow but many aren't ready for a surge of growth. If you want to grow, a consultant can look at your business objectively to help you figure out how. In many cases, companies want growth but don't have a lot of capital to help them expand quickly. A strategist can help you grow not only at a pace you can afford but also at a pace you can keep up with. Manageable growth is vital. An explosion of growth that happens too fast could become a fail due to the fact that your business's infrastructure might not be able to support it. Some companies that don't manage their growth lose business and are worse off because of the way that their reputation can be damaged through being unable to meet demands that they have created. A business development consultant could help you make and then execute a plan that doesn't just look good in terms of profit potential but that also looks like a feasible plan because it can be done in stages, helping you win and keep customers.
About the Author
A business development consultant and marketing specialist for many years, Chris Jenkinson specialises in marketing advice and growth strategies. He provides further advice about consulting services on the GizTheBiz blog.