BUSINESS DEVELOPMENT SKILLS WORKSHOP
Business development (referred to as BD) is a term that varies in its meaning from one organization to the other. While some consider business development a contact driven activity to increase sales revenue, others interpret it as a marketing sub-activity rarely looked at in times of economic booms.
This course intends to shed light on framework of BD that is quite vital in today’s competitive business environment. Business Development is an integral process that links with major functions of the organization, aiming at strengthening ties with existing clients as well as cultivating customers in different sectors of the general market, territories or geographic regions at large.
Business Development framework is based on identifying the triggering events leading to the need to expand the organization business beyond its current boundaries. It also provides answers to the following questions and draws conclusions in the form of action item:
- Where are we now?
- Where do we want to go?
- Why do we want to do that?
- How can we do that?
- How much will it cost us?
- Is it worth doing?
- How do we know we have reached there?
The course is full of facilitated sessions where the attendees will be introduced to facilitation tools and techniques to develop their skills to become successful BD professional. They will acquire ability to build consensus among varied stakeholders of different function of the organization (sales, marketing, production, finance, operations and senior management).
At the completion of the training, participants will learn how to:
- Adopt and apply different business analysis tools and techniques such as SWOT, competitive force analysis, Product/Market Matrix, in their market development activities etc.
- Identify, explore and exploit hidden opportunities in the company’s business environment, mitigate risks and harness profit pools in the company’s different business segments.
- Translate their company’s products or service features into benefits to motivate clients to do more business with them and boost sales figures.
- Apply sound, disciplined and effective SWOT analysis, objectives, plans and procedures in reaching business decisions and improving the company’s fortunes
- Motivate clients to make their ‘purchasing decisions’, and understand the power of ‘speaking their language’.
- Leverage relationships, techniques and processes for building and nurturing effective networks with the company’s key clients to guide performance and meet business development and financial growth expectations.
- Discover behaviors to build and develop rapport with clients and understand what it takes to generate a relationship of trust and respect with the client.
- Overcome cold calling fears with sound principles and expand their methods of gathering leads and generating new businesses.
- Explore and apply the principles of successful objection handling and effectively prepare for and conduct client and sales visits successfully
- Develop questioning techniques to reveal client needs, and develop their awareness of the need for your services.
- Present your service and company’s features in the form of solutions that benefit the client, solve their problems and meet their needs.
- Transform interest into business via effective closing behaviors and know how to manage and exceed client / customer expectations.
- Carry out value analysis process focusing on the elimination and or reduction of the value stream elements.
- Dealing with complaints and dissatisfactions – transforming these into opportunities to deepen the client relationship and loyalty.
- Seeing the ‘BIG PICTURE ’in BD – From Business Strategy to Corporate Strategy: The Scope of the Firm
- The many reasons why we must focus on BD
- Using BD to support the Business future
- BD duties, functions and activities within the company: responsibilities, competencies, authorization, etc.
- Analyzing Your Company’s Key Results Areas in order to boost BD Activities & Results
- Business Analysis with respect to value proposition, market segment, value chain and cost model, revenue model, and value network
- Target Marketing Process: Linking Customer Needs To Marketing Action
- Strategic Positioning and Risk Assessment in BD
- Buying Sensitivities Description, Estimating Market Potential, Strengths & Opportunities
- Sales and Market Development in BD framework
- Business Networking for Results
- Competencies and Skills for Effective Business Networking
- Business Development Strategies and Tactics – Maximizing Returns on Customer Relationships
- Business Development Tools and Techniques
- The Value Chain and Competitive Advantage
- Conclusion and Action Planning