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Overview

Overview. Business Development – Broadly used term Traditional Business Development Business Development – The last five years Business Development – Recent Evolution Key Success Factors in the New Economy Role of the Business Development Executive Conclusion.

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Overview

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  1. Overview • Business Development – Broadly used term • Traditional Business Development • Business Development – The last five years • Business Development – Recent Evolution • Key Success Factors in the New Economy • Role of the Business Development Executive • Conclusion

  2. Business Development - Broadly Used Corporate Alliances New Business Development Sales Account Management Media Buying Mergers and Acquisitions

  3. Traditional Business Development • Environment • Large, stable companies • Long term planning and objectives • Incremental change • Well defined corporate roles and responsibilities • Business Development Teams • Small group of senior deal makers (40+ yrs old) • Focused on small number of strategic deals (Corp Alliances, New Businesses, M&A) • Long deal cycles (months or even years)

  4. Business Development - Last Five Years • Environment • Small, very dynamic companies • Little to no strategic planning • Discontinuous, constant change • Poorly defined organizational structure and roles • Business Development Teams • Larger groups of younger, early adopters • Focused on many deals of various size and type, generally tactical (tactical = strategic) • Short deal cycles – modern day land grab

  5. Business Development - Recent Evolution • Environment • Industry becoming clearer - Battle lines drawn • Consolidation and shakeout well underway • Business discipline and planning back in style • Dynamic change – handled more adroitly • Business roles better defined • Business Development Teams • Becoming smaller, more senior/experienced • Greater strategic planning creating deal focus • More business discipline and rigor in deals

  6. Key Success Factors in the New Economy • The important charater traits have not changed • Hard Work • Critical Thinking • Problem Solving • Innovation • Communications • Excellence

  7. The Role of the Business Development Executive Manage Relationships Anticipate Change Seize Opportunities

  8. Manage Relationships • External • Networking to establish and maintain relationships • Understand business issues and needs • Learn corporate structures and decision makers • Brainstorm ideas and concepts • Internal • Thorough understandingof the business • Be aware of internal politics and sensitivities • Build bridges with key decision makers • Educate company about market conditions

  9. Anticipate Change • Change is rarely a well kept secret • Listen to those positioned to know • Observe the the market and its trends closely • Understand technology and its implications • Critically evaluate current solutions • Develop innovative solutions to problems • Extrapolate market solutions

  10. Seize Opportunities • Timing is everything - be patient • Know what you want and your walk away point • Engage decision makers with strategic offers which meet both companies goals • Preserve core business principles and discipline • Don’t be afraid to say ‘no’ • Communicate the deal throughout the organization • Commit the necessary resources

  11. Conclusion • Last five years have been characterized by business development-like behavior • Marketplace is becoming better understood and the role of BD is strategic and important • Current market environment demands near flawless business decisions including business development • Business Development requires clearly communicated goals and objectives and management driven business discipline

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