What is Business Development?
Before talking about Business Development “Consulting”, let’s take a moment on Business Development. Here’s how we can define it:
Business Development is the long-term value creation for an organization through its customers, its market and its relationships, in order to seize growth opportunities.
The concept of customers is quite simple to understand, it is the one who pays for a product or a service. It is directly related to the market. These two notions are mixed with the relations of the organization, i.e., the partners, the stakeholders, etc. These need to be built stably, solid and based on strong values, which will create long-term value. As a result, the achievement of the latter automatically leads to the seizure of growth opportunities.
Now back to Business Development Consulting. The first element that we can explain about this notion concerns the consultant practicing in this field: he is a fine strategist and he must be perfectly organized. Business development consulting is therefore above all a strategy and organizational consulting.
In a more general and very simple way, the consultant in Business Development sets objectives in the mission entrusted to him. And, thanks to a strategic plan and a good organization, he will help his clients to put in place his recommendations to reach their ultimate goals, success in business!
But how does the consultant proceed? What steps and what reasoning does he use?
Above all, the consultant studies the company in which he works, so as to be absolutely certain that the latter has all the means and resources necessary to carry out his project. He will also, as a tactician, carry out market studies and as a business developer, ensure and validate continuously that his strategic plan can be applied to the microeconomic reality.
In addition, consultancy firms in Business Consulting support and carry out all or part of the project, according to the skills of their clients and the implication they wish to delegate to the consultant.
What qualities are required for a Business Development Consultant? And why use a consulting firm specializing in Business Development Consulting?
A consultant of this type must be: two-headed (half strategist and half operational), methodical, organized and anticipatory.
Often, these skills are simply not available internally or not comprehensive enough. Therefore, it is more reasonable to trust professionals for the realization of his delicate projects and of course to develop his business!
We hope that these few lines have allowed you to better understand and understand Business Development Consulting. M & BD Consulting is a consulting firm specializing in Business Development Consulting, we invite you to visit our website, you will find useful information on this concept and many more.