The Three Components of Business Development

Posted by in Business, customer service

What does business development really mean? Many people use this term without any context. It is somewhat like aloha or meow; it can mean anything. Business phrases that have no context become diluted in their effectiveness. The following is a definition that you can use for your own edification and delight and to enlighten others.

 

Business Development = quality of marketing efforts + quality of sales efforts + quality of customer service

 

The agenda of each of these three components is to increase topline revenues.

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Is what you’re doing today contributing to increasing topline revenues?

 

Taking a client to lunch, chatting about the various interests that you have in common, and then as you say goodbye shaking their hand and saying: “Well, if there is anything I can do for you, be sure to give me a call” is not sales – it is marketing.

 

If you were in the sales role, you would know if there is anything you can do for your client or prospect and you would know what is on the back-burner, about to erupt. If you cannot explicitly ask for a next step, you are missing the mark in sales.

 

The Topline Growth Acceleration Institute is a consultancy that helps clients to increase their revenues. Typically, my clients grow their topline by 15 to 20% in their first year of working with me. If you would like to discuss how you can increase the value of your company, please email me at alice@alicewheaton.com or call me at 1-877-542-5423.

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