Build Your Business With The Help Of Business Development Consultants

The goal of every business is to grow and expand. Expansion can lead to higher profits, more employees and a greater valuation which means more wealth and better financial security for the owner. While the business owner or manager commonly is the most knowledgeable about the business’s operation and the markets it works in, an outside consultant can bring a new perspective to the situation and see opportunities and threats the owner does not. There are a few simple tips to getting the most benefit from business development consultants.

Choose Carefully

There are many consultants out there but few are probably right for your business. The most obvious suggestion is to choose someone who works in your particular industry. The restaurant, retail, medical and manufacturing industries, for example, all have consultants specializing in those fields. Look for someone not only familiar with your industry, but who is also knowledgeable about the scale at which your business operates. For example, a consultant who specializes in one-location retail outlets, may not be as able to provide assistance to an owner of a small chain of outlets. Most business development consultants will provide references and a complete background of their education and experience in the field as part of the application process.

Work with the Consultant

The business owner will need to spend whatever time the consultant deems necessary explaining the business and any goals the owner hopes to attain. The consultant will also want to review financial records, possibly watch staff in action, explore the business climate in the area and analyze the physical assets of the operation. This is not the time to be shy or withhold information. The consultant needs to know the good, the bad and the ugly about the operation. The consultant commonly presents a list of the information required and what facilities he or she will need to see as part of the preparation for the consultation.

Follow Through

Following the suggestions of the business development consultant may be difficult. This is especially true if the consultation suggests a major change in the operation of the business. It is natural for owners to resist a change to the business plan they have developed. While following the consultant’s suggestions is optional, it should always be seriously considered. Depending on the situation, the business development plan may require the participation of employees within the business. Working with the entire staff of the business may be necessary if the consultant’s plan requires a major change in operations.

Make a Plan, Work the Plan

Consultants don’t commonly write a completely new business plan aimed at developing or expanding the business. The owners and managers need to select the best components from the consultant’s plan and integrate them within the business’s operational plans. Some of the consultant’s suggestions may fix immediate issues while others might be long-term solutions. Integrating both into the business plan offers the best chance of success. In addition, changing financial conditions commonly require updates to business plans. In some cases, this may require another visit from the consultant. Long-term relationships with a business development consultant may save costs as the necessity for background research is reduced with each visit.

Business Development

The start of 2010 is here now. The biggest question is how will you start off the new year? Will you start off the new year with a pen and notepad. It is amazing how the simplest thing can change our lives for ever. Just sitting down at a table and writing our goals down. Something special happens when you write your goals down. You have a visual of what your life can be like in the near future. Now it is one thing to write your goals down, but how many of us will actually take action. Taking action is what will change your life. We can read about successful people and all the great things they accomplished, but there not better than us. The only difference is they made a decision and stayed consistent working hard towards their goals.

Challenges will come. We all wish we could live life reaching our goals with no problems, however we know something always pops up unexpected. Those interruptions in life sometimes knocks us off track from reaching our goals. Remember one thing, if you fall down get back up.If you fall down again, get back up again. I am not saying it will be easy, however we should not quit. Amazing things happen when we weather the storm. Sometimes where right at the point of our break through..

The financial climate in the country is looking bad, were in a recession. Everywhere you go you can see the effects of businesses closing down. Job lost numbers are sky rocketing, banks are not lending money. People are scared about the future. Which we have every right to be. But we have to hope for the best.

On the upside of things, there is opportunity all around us. For the person who is not scared of investing their money into new business adventures will come pass allot of opportunity out there. There are plenty of houses way below market value. There is rental space available for new businesses to start up everywhere. You can get a new business started in a high traffic area with amazingly low rent. This is a time now where new millionaires will be made, i just hope you will be one of them.

Business development is a process.

  • First thing you want to do is think about what market you want to go into.Good market research will always go along way.
  • Make a business plan
  • Start finding all the resources that will make your business a reality.
  • No more procrastination,now is the time.

Guys I wish you great success in 2010.

The 5 Phases of Business Development

The Business Development (BD) process in Government Contracting relates to the identification of suitable contracts and preparation of proposals in response to Government solicitations for these contracts. It typically consists of five separate and distinct phases:

  1. The PositioningPhase (tied to the company’s Business and Strategic Plans), where the company decides on the direction they want to take to increase market share. The PursuitPhase, where the overall Marketing Plan is developed and then separated into the accounts that will identify individual targets to pursue
  2. The ProposalPhase, where the response to the RFP is prepared
  3. The Post SubmissionPhase, where clarifications, proposal modifications and negotiations (if any) are prepared
  4. The OperationsPhase, where the contract is mobilized for Phase-in, if won – or lessons learned from the Government’s debrief is collected, if lost

One important aspect of the BD process is that it is most effective as a closed-loop system, in which the Operations Phase information feeds into the Positioning Phase for an ever-changing system that quickly reacts to changing conditions in the marketplace. This is often referred to as the BD Lifecycle.

Many separate workgroups or business units support the BD process, from corporate management to the operations staff to production personnel and administrative staff inside the company, to third party Subject Matter Experts (SME) or professional proposal preparation personnel like those provided by third party consulting firms.

Positioning PhaseSome of the tasks performed during the major phases of the BD process include:

  • Defining the company’s direction
  • Using data from the Marketing Plan, establish target selection criteria and prioritize targets
  • Forming strategic alliances with other companies that can make good teaming partners that will lead to expanding the company’s resume in new markets
  • Analyze the gaps between where the company is today, and where the company needs to be, what it needs to have, etc to meet the projected goals
  • Establish the various Lines of Business (LOB) and develop the account plans (by customer, region, etc) to support the LOBs
  • Establish the necessary overall Bid and Proposal (B&P) budgets to support the accounts

Pursuit Phase

  • Establish and develop the Capture Plans for targets identified within the Account Plans
  • Develop an understanding of each individual customers’ needs and articulate these in each Capture Plan
  • Establish a customer Call Plan and meet with them to discover gaps and present solutions
  • Locate Key Personnel suitable for the job
  • Locate required subcontractors to fill niche task requirements or small business subcontracting goals
  • Locate and commit one or more “guy on the ground” that understands details that may not be disclosed during the procurement cycle (make sure he does not have a conflict of interest!) Redact all of the information into a Bid/No Bid document for analysis

Proposal Phase

  • Hold strategy sessions and discuss all known information, and discover any final gaps
  • Develop the Concept of Operation (CONOPS)
  • Refine and finalize the B&P budget
  • Mobilize the Proposal and Cost Teams
  • Attend the Site Visit/Pre-proposal conference
  • Conduct Final Bid/No Bid for Management
  • Prepare, refine, produce, and deliver proposal

Post Submission Phase

  • Follow up to client
  • Orals Presentation if required
  • Archive working proposal documents into library
  • Respond to Questions/clarifications from customer
  • Revise proposal as needed

Operations Phase

  • Mobilize for Contract Phase-in
  • Negotiate contract modification as needed
  • Develop lessons learned (entire team)
  • Collect and archive contract performance data for future proposals

This is just a simple list of some of the major tasks performed during the process, there are many other sub-tasks that must be performed to accomplish these, and there are many opportunities to do them incorrectly. This is often frustrating for companies, as they are unable to understand why they’re not experiencing the success they believe they should have, or that their competition has, because they are dutifully performing each step of the process.

What’s important here is that merely performing the step is not the same as performing it correctly. Another dynamic of this is that it can be difficult to admit that sometimes we need help, or it could be that upper management would take a dim view of our abilities if we asked for outside help with our internal processes.

Additionally, many large (and some small) companies need help, but don’t know they need it (or in extreme cases, are too arrogant to admit it). This is normally characterized by a high turnover of business development personnel as they struggle in vain to be successful using a broken process.

Lucrative Openings For Business Development Jobs

Business development jobs are immense these days. People are getting good offers from some of the best Companies as there is rising need for these jobs all over India. In actual terms, every business – big or small wants to have a business development manager to promote business and make new customers. This helps in increasing the return on investments and awareness about a particular business entity amongst clients and competitors.

Business development jobs are crucial jobs in the industry. This job requires complete understanding of the business and its development. People with experience in particular industry get jobs easily because of their professional approach to the business.

This job is suited for Marketing-oriented people who have good knowledge of market and understand the clients well. Every market entity needs business promotion, but due to recession, people had curbed their expenses and stopped hiring business development managers for their business promotion.

The recession phase is completely over and people are coming back to normal schedule of business. Therefore, the hiring of professionals has also begun. One who has more knowledge is placed at better positions as compared to fresher.

Business development jobs are crucial for the industry. An efficient Manager will take the business to greater heights and vice-versa. Therefore, care should be taken while selecting the right Business Manager for the firm. Business development jobs are as per business requirements. Therefore, person opting for this job must understand the implications before applying for it.

Business development job openings are available in almost every industry. This implies that anyone can get the job with proper experiences. The best way is to look into the online job site for the right job. These sites help in getting the right job at right place also. Suppose you are currently working in Mumbai and want a job in Delhi; then fill in Delhi as preferred location and get the best job options in Delhi.

Aspirants can log on to online job sites through internet and get the desired job options within a few days only. These job sites are quick to respond and provide excellent work opportunities to candidates.