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.

Continue reading 8 Powerful Steps Business Development Strategy that Last

Don’t Sell Ice to an Eskimo

Don’t Sell Ice to an Eskimo often used in training about marketing. Never sell ice to Eskimo people. But it is also mean don’t give present ice to Eskimo. That is a phrase that is quite famous in the marketing world. Uniquely, meaning varies. You can also convert from meaningless products to meaningful products.

5 meaning of Don’t Sell Ice to an Eskimo

1. Do not sell items that people do not need

Some interpret the phrase message, never sell the product to people who do not need it. The Eskimo live on the ice, no additional ice. Selling ice to Eskimo people is a waste of time. Energy, cost, time spent in vain to sell goods to people who do not need.

2. It seems impossible, but it is possible. Play emotional needs.

The phrase gets a new interpretation. It may be selling ice to Eskimo people. How to sell ice to Eskimo people? The trick is, color it with red and blue. Tell Eskimo men, Eskimo girls like men with ice houses or blue igloos, because it looks macho. Tell Eskimo girls, Eskimo men like girls with red igloos, because they look feminine.

3. Research In the past, do not immediately consider it impossible

There is also a suggestion to conduct ethnographic studies, namely by living in Eskimo community. Learn how the Eskimos viewpoint looks at the ice. what is the grouping of ice names they make? According to research, there are 52 words about ice for Eskimo people. What for us is just one kind, for them, there are various kinds.
From their lives, find what kind of ice they need, and they are dizzy to get it. What a disappointment in their lives that can be solved with ice products. Make that kind of ice. Maybe the ice they need is ice for igloo bricks because it’s a hassle to make one by one brick.

4. Sell ice with a gimmick

Sell ice with extra prizes that interest them. Like a child who sometimes buys snacks not because they like snacks but like their presents, sell ice with interesting prizes, such as the presence of hot water. They need it for warmers.

5. Convey the Benefit

Say, I understand you should rest in this very bad cold room. I have a way, an igloo design to make a house much warmer. It is designed by ice bricks.

 

Present

Small Step Big Leap

Small Step Big Leap in creating products and services that based value proposition that fit with customer requirement. I show you why.

The most important thing in our business is our customer. Without the customer, no business. No transaction, and no profit. Then second important one is fit offering. Offering that fit to need and expectation of customer segment. Often we just produce. Then promotion. We can succeed with that method, but something we can be stuck because the offering is not fit with customer need and expectation.

Another missing thing is the value of your products. It is not just your product but, the benefit of your products. We have to aware to benefit to a customer because it can help us find insight to improve our products and feature and also we ready to answer, why customer buy from us.

Value Proposition as Small Step Big Leap

We can fix the missing by creating the value proposition. Strategizer creates a formula that helps us to create a value proposition. It is useful to attract the customer. It is useful to improve our products. It is useful to make fit products and customer.

value proposition is a positioning statement that state benefit we offer to the customer in uniquely well. It describes your target segment, the problem you solve by-products and service, and why choose us.” Positioning is what customer think about our company. Position your business the way that it is already seen in your prospects mind.

Value proposition have component: benefit for the customer. It helps the customer to do their job. It also makes the customer happy, and reduce or avoid pain.

That is: Our [products and service] help [customer segment] who want to [job to be done] by [reducing, avoiding] [customer pain] and [increasing, enabling]  [a customer gain], unlike [competing value proposition].

The company’s value proposition is company concept that helps to improve products, improve message in a promotion. Without value proposition, you don’t know how wonderful your company. That is Small Step Big Leap.