Business Development

The truth is, most Businesses are quite simple to operate, just not easy to do. Almost every Business operates on the same model of gathering customers through various marketing strategies and then having an effective conversion process or sales system to create a new customer. The next step is to implement customer service systems to serve them well, keep them coming back and become raving fans for life. We must also have an effective Human Resources division to select, hire and train our personnel to perform the duties and responsibilities of the various positions. All of these areas affect your business development and management.

What will become abundantly clear when you are growing your company is that the work will be hard and much of your time will be sacrificed to make it happen. The learning curve will be very steep at times, but the reward will be sweet and worth every moment you have to wait. For those of you that think success will happen overnight, you’re probably better off buying lottery tickets, the odds are better. The concepts of business development are not just some irrelevant abstract theory, they are essential to the future success of your business.

The Work/Career Wheel

Draw a circle on a piece of paper and divide it into eight sections, like a large pizza. On the outside of the wheel above each slice, write the following points; Marketing & Sales Processes, Customer Service Strategies, Relationship with Employees; Understand Your Financials, Systematization of Business, Organization & Time Management, Leadership & Vision and Work/Life Balance. These represent the most common ares of business development.

For each section of the Work/Career Wheel, score your sense of satisfaction on a scale of 1-10 (10 = very satisfied). If an area doesn’t apply, replace it with a more appropriate label. Once you have scored all the sections, identify the top three areas that you would like to target. Ask yourself the question “if my current score is ____ in this area, what would a 10 look like?”

I hope this has been revealing and at the same time encouraging that you can build a successful Business with an effective business development strategy. At the very least,set aside 1-2 hours each week to work on your Business in the areas you have identified as priorities to help improve your Small Business Management.

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