Transcript
Business Development Factors that
Contribute to Business Success
You can make a difference!What makes a business succeed? There are of course many different factors which contribute to business success or failure.
Here we aim to highlight those factors under your control, and what you can do to ensure your business is a success.
AspirationsAspire to success! Cultivate a positive attitude, and you will inspire yourself and those around you.
Believe in yourself. An optimist is much more likely to thrive than a ‘doom and gloom’ merchant!
Plan your StrategyMost people recognise the benefits of a business plan. Take planning further and write down everything you want to achieve, and how you are going to do it.
Having written plans will help you to stay focused, and achieve your goals.
The Business Development Matrix is another way to map out different strategies for growing a
business
Product Development
Market Development
New Business Development
Market Penetration
• Identify opportunities for each type of business development
• Assess relative attractiveness of different opportunities
• Assess our relative competitive position in the pursuit of different opportunities
• Agree overall business development strategy
Existing
NewExisting
Target Customers & Markets
Prod
ucts
& S
ervi
ces New
Mission Statement
Write a mission statement for your business.
All businesses, however small, should have a clear idea of what they are trying to achieve. Include standards you adhere to and any constraints relevant to your business.
InformationAre you knowledgeable about your subject? Perhaps there are some grey areas you need to brush up on.
Make it a priority to keep up to date with the latest developments in your field.
Time Management
Your time is precious, and if there never seems to be enough hours in the day it’s worth finding out where all your time is going to.
Over a few days, keep a note of how long you spend on individual tasks.
Analyse your timed tasks
You may be surprised at the results! Are any of your tasks uneconomic time wise? If so can you scrap them, or revise them so they are less wasteful?
This will give you additional time to spend on more profitable jobs.
Do it now!“Don’t put off until tomorrow what you can do today.”
Try to deal with things as they occur, customers especially appreciate a quick response, and will be impressed by your efficiency.
And5 Principal keys for Business Development
1. Leadership2. Motivation3. Teamwork4. Productivity5. Debate
Leadership
How able you are to manage and deal with your Team, Customers, Partnership and over all work environment?
Motivation
Motivation is an important area of human behavior at the heart of everything we do. It was once said that “Motivation will almost always beat mere talent.”
Teamwork
Teamwork is becoming a natural and effective form of working in a variety of industries. If you’re still not working in, you will be soon. Prepare for the next level in productivity by improving your ability to perform well in teams.
Productivity
The secret to achieving astonishing levels of productivity is that a variety of techniques need to be used to reach your potential.
Debate
Because Leadership is a subject defined by ideas, gestures and feelings, rather than science – we debate many contentious leadership issues with our team, Costumers and hierarchy to decide for actions(correctness, improvement…)
Take a GambleSometimes in business a calculated risk is necessary. If you never take any risks you will not achieve anything.
Don’t jump blindly into risks however, plan and think through first.
DreamHave a personal ambition, a goal that you want to achieve. Preferably something attainable!
Focus on your dream when the going gets tough, remind yourself ‘I am doing this to achieve …..’
In Conclusion Have a positive, can do attitude Plan, plan, and plan again Keep up to date on your subject Manage your time Be pro-active
Please do Remember
The deal is not about what you want. It's about what your opposite number(competition) wants, and whether/how what you're offering can deliver it.
Now let Debate!!
Thank you for your Co-operation
Malika Haddad
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