Organisations make great effort in ensuring that their business models are relevant (at a minimum) to ensure a steady revenue stream. Unfortunately, not all organisations obtain value from these efforts because consistent planning and business development capabilities are often lacking or absent. Successful organisations invest, in a remarkably consistent and laser focussed fashion, to ensure that they are ahead of the curve in addressing market needs – before these needs even arise. The sad truth is that not everyone is a Business Development manager, despite their claims to the title. Tackling clients’ requirements – before clients can articulate these requirements and before the competitor addresses these demands – requires being able to see around corners and beyond the line of sight.

Achieving, and sustaining success, starts at the drawing board. It also requires consistent hard effort, lots of time, energy and commitment. A rigorous approach to business development can assist organisations improve its revenue performance – and robust business development plans are essential to drive enhanced performance. Sadly, such plans are often relegated to the bottom of the to-do list or even not considered. Companies that conduct formal business development planning are more successful and profitable, over time, than those which do not.

“If you fail to plan, you plan to fail” is an honest adage. Our experience indicates five key factors to creating a robust Business Development Plan:

1. Analysing the current situation:
   • This step looks at:
     1. Assessing the current / existing target markets or customer segments;
     2. Executing a competitor analysis;
     3. Obtaining insight and intelligence on services required or being sought in the market place; technologies available, required or to be developed;
     4. Assessing processes, people and financial resources required.
2. Assessing the opportunities:
   • There are many useful tools to analyse opportunities and a simple, readily available one is the SWOT analysis – which details the organisation’s, as well as the opportunity’s, strengths and weaknesses, opportunities and threats.
3. Define visions, goals and objectives:
   • Vision, mission and goals provide a focal point that helps to align everyone, thus ensuring that everyone is working towards a single purpose. This helps to increase efficiency and productivity in the organization and to ensure that the Business Development initiatives are successfully realised;
   • Guide and infuse the Business Development initiatives by asking and answering:
     • What’s our purposes, our ideal and vision that guides our business development initiatives?
     • Why must we move from where we are today?
   • Objectives and goals must be quantifiable, challenging but achievable.
4. Create a Business Development strategy & roadmap; The Business Development Strategy is the crux of the matter and the heart of the plan.
   • Set deadlines for opportunities to be taken to market and subsequently sold;
   • Clarify roles and responsibilities for successful implementation;
   • Review the Strategy / Roadmap regularly and amend as required.
5. Write the proposal, do the presentation, walk the walk and talk the talk:
   • Build awareness of your products, services and technologies – before people will procure what you are selling, they must recognise that they have a requirement.
   • Present like you mean it!!! When you meet your potential buyer / client:
     • Know your product – audiences can sense when you are bluffing;
     • Prepare more material than you may think you need – it is better to be over-prepared than to run out of information to share;
     • Be prepared to engage on the value your product or service offering brings to the buyer’s table!
     • Anticipate the questions the buyer may ask you by incorporating this information into your proposal;
     • Always be prepared to change the buyer’s view and never rule out having to amend your proposal (multiple times!);
       • Ensure that you are addressing the buyer’s needs and not what you think they require!
     • Memorise the opening and closing paragraphs of your presentation pitch:
       • You are most anxious in the first minute of your presentation;
       • Memorising your closing paragraph helps you close out with conviction!
     • After you convert the opportunity into a sale, keep your promises.
     • And lastly, review the Strategy / Roadmap regularly and amend as required – it is not cast in stone and both internal and external factors require, and will inform, regular updates and amendments to the Roadmap.