Finding the Right Business Development Strategy

When planning a project, the rule of thumb is to assess the plan, gather the materials, design the steps, and create a timetable for getting thing done. This series of tasks can certainly be applied to growing your business. It’s a strategy, plain and simple, and it’s too crucial to ignore, deny, or pretend it doesn’t exist. An “I’ll think about that tomorrow” business mindset, in regard to your business development strategy, can signal doom and gloom for your future profits.While the entrepreneur already has a full “to do list,” she can divide them up into “what to do today,” and “what to think about for tomorrow.” The things to do each day are relatively easy to figure out, it’s essentially working the business, calling the clients, paying the bills, making sure you have inventory ready, etc. The list of “what to think about for tomorrow” will allow you to keep one eye on where you want your business to be. It can also be called your “business plan.”Why is this so important? Because one or two years from now your business is not going to look like the business you’re running today. For instance, if your business moves from year 1 to year 3, maybe you’ll need a bigger warehouse, or more employees, or the need to outsource your bookkeeping. Living in a state of “what if” is another way to think about it. “What if my customers find another similar product, what else can my business sell?” or “I know that I can branch out next year, but how many new employees might that mean, and what are the advertising avenues for my business to jump on?” Of course you could wait for these scenarios to actually come to be, but then your back is against the wall, you will reach for the quickest solution, and it may not be the wisest choice. Plus it may downright expensive.If your business can possibly triple in three years and space is the question, then keep informed on the prices of commercial real estate, where the best prices are? If you’re going to need temporary employees, then contact the local temp agency, give them your information, what type jobs may be coming up, and when the need arises, you’ve already started the process. Do you think you’ll need a website with 5 more pages in a few more years, then purchase a website package that allows for growth, and only use what you need, but this way you’re already acquired the extra space for expansion.It is isn’t as overwhelming as it sounds; it’s a muscle you haven’t used much, but once you’ve gotten into the habit of putting it into play, your business development strategy will become as much of a habit as checking your books each week. Perhaps you can set aside a time of the week that your day to day tasks are complete and you are ready to think towards to the future. Assess where your business is now, do you have a smooth operation? Is inventory being created at a comfortable level, if you have a slight increase in sales, can you accommodate? Is there a new market you can consider venturing into? You may even find that it’s an enjoyable part of your week as you visualize your business’ growth.