8 Powerful Steps Business Development Strategy that Last

Improving sustainable growth, independent and profitability is the goal of business development strategy.  That is a long journey. It is a marathon, not a sprint running.  So it is important to define actionable step by step business development program based on best practices.  An internal team can create the strategy, but also they can ask the external consultant.

Business development is the creation of long-term value by identifying opportunity, threat, strength, and weakness. Then organization makes most suitable respond, so make the fit between customer segment, organization capability, and sustainability. It consists strategic planning, marketing planning, and standardization of organization.

This step by step procedure can apply to existing running business and also startup owner.  It also helps what does a business development manager do.

Business development has several steps. I write steps in question style so the answer is progress and important steps to improve business development strategy.  It is overview article about business development strategy, and I will break down later.

  • What are your business and its vision (business vision and mission)
  • Who is the customer that your business serve? (market segment)
  • What are your business model and competitive strategy? (business model)
  • How to Empower your team?
  • The way of thinking and procedures to deliver your value to the customer? (marketing plan)
  • How to make your business running without you? (systemize or business independence)
  • Creating business system consist organization, tool, and knowledge that support Best Offer? (organization, tool, and knowledge)
  • How to Measure daily business and adjust strategy? (Key Performance Indicator and Improvement)

First Business Development Strategy: Vision and Mission

Writing down vision, mission and goal are powerful, so it is first part of business development strategy. The writing combine imagination and reason.  Dr. Gail Mattews found the amazing discovery that they who wrote their goal regularly achieved those achievements more.

So it is important to define the personal vision, mission, and goals of the business owners. The goal helps us and team to focus on the goal and eliminate distraction.  It also empowers our motivation to reach our goals.  Without a clear vision, mission, and goals, there is no hope.

To accomplish vision, mission, and goal, it is important to consider current financial and non-financial position of the business. It helps to find an easy way to reach goals and find which area that needs to fix and to improve. Identify position of business also important to identify strengths weaknesses opportunities and threats facing the business. It helps business to develops an action plan to make progress.

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We are Deserve to Start Big Business Journey

Before to start a business idea, sometimes we have an idea that supports and against. Maybe you think that is impossible. Consider that if you didn’t do anything, nothing is possible.

See your mind before it turns into concentration.
Pay attention to your concentration before it turns into a feeling.
Observe your feelings before they turn into behavior.
Heed to your behavior before it turns into a result.
Take notice of the results you can before determining your way of life.

You are not a label that you own by yourself, not a label that someone else puts up.
Human is not sadness, anxiety, worry, frustration or failure.
We are age, weight, body shape or your skin color.
Thou are not past, present and future.

You are the best creature by God.
If there are people who can make something happen in the world, you can definitely make it happen, even better.
Remember the night is the beginning of the day.
The dry season is the beginning of the rainy season.
Suffering is the beginning of peace.

An obstacle is the beginning for good.
The optimistic attitude to goodness is the beginning of self-power.

Therefore, enjoy every moment of your time.
Think of it as the final stage of your life.
Live with love to God.
Savor by imitating the Law of Allah’s Apostle.
Relish with dreams.
Experience with the struggle.
Live with patience.
Breathe with love.
Respect life.

Easily Identify Market Opportunity

If you found business ideas that suit with your passion,  then you need check market opportunity. The market opportunity is market demand. There is people group that will need and love to buy your products. You need to check market opportunity so you know it is worth spending. You will know, it is worth to spend your money, time, energy and attention? Then, identify market opportunity is often expensive, so I offer an easy and cheap way. It identifies market by online tools, like google keyword planner, Google, Google Trend and Facebook.

What you need to do to prepare is collect keyword about the product. Not just keyword in your term, but keyword in their term.  For example, if you want to sell fishing accessories, you write a list of keyword: buy bait, buy a kayak,  fishing in Arizona, cloth for fishing, fishing rod et cetera.

 

1. Google Keyword Planner

You can access Google keyword planner in this link adwords.google.com. You sign up or sign in to that website.  Then click tool icon at top right, then click keyword planner.

identify market opportunity

Google keyword planner help you to identify market opportunity. Plug your keyword at this tool, then it gives you statistic about keywords.

research-market-opportunity

That is quantity keyword that audience type on google. That is mean market demand. At least indication. You can add another keyword that gives you a strong indication, like the cheap fishing pole. You will found market demand

2. Google Trend

Google trend give you information about how many people that search the keyword in annual by month. This data gives you information about when market demand in peak and in low.

3. Facebook

Then you check facebook. Plug your keywords into facebook text box.  I mean keywords about the product on Facebook. Choose fanpage. We will check fanpage for the product. Check interaction in the fanpage. Many commercial interactions indicate a good opportunity.

 

 

Disruptive Marketing in Interactive Communication

Disruptive Marketing is marketing that sensitive to business disruptive.

In previous post I write about fall of market leader, Nokia. Nokia is not alone. Many malls and retail shops in Indonesia are out of business when the market prefers a new way of shopping, which is online shopping. The market much likes to shop through online ordering via a virtual market (marketplace) such as Tokopedia, JD.id, shopee.co.id, bukalapak.com and so on. The world of public transportation is also experiencing similar things. There is a market trend to use taxis and motorcycles with online reservations such as Uber, Gocar, and Grab the mobile application.

The phenomenon of market interest shift over these different product categories is driven by the widespread use of internet-connected smartphones. The impact of information technology is behind the disruption symptoms. Disruptions The old business models are replaced by more efficient businesses with information technology support.

Information Technology Era and Disruption

In today’s information technology era, businesses are required to be sensitive to new categories that can be more efficient and effective that undermine the old categories. That is Disrupt phenomenon.

Students as candidates for business managers are also required to have sensitivity in the midst of rapidly changing situations. Their briefing in the form of lectures and teaching materials material to them also needs to undergo changes or updating taking into account the role of information technology in business.

This textbook is an attempt in that direction, updating the science of marketing by weighing information technology. This textbook offers a more sensitive and flexible approach to changing the business environment. The old marketing concepts are not entirely abandoned because they are still relevant today, but with the use of information technology. There are 3 updates that  I offer.

  • We need to add the idea of Segmentation and Targeting with use of information technology that facilitates segmentation as well as new, unknown targeting methods prior to the widespread of information technology.
  • The concept of Targeting and Positioning is complemented by the preparation of personal and flexible buyer persona and value proposition, given that communication is now more interactive and companies are required to be flexible with changing needs.
  • The competitive advantage not only looks at product characteristics alone but comes with a business model sensitive to new changes.
    With the updating of marketing knowledge, it is hoped that textbooks will be able to adjust to rapid changes and can perform marketing activities more effectively and efficiently with the use of information technology.

That is disruptive marketing that quick respond to market change behaviour.