Management Tips – What it Takes to Create an Effective Business Development Strategy

If you are a manager at the same time an owner of a business or an organization then, one of the challenges you are faced with is the challenge of developing and taking advantage of business opportunities that are provided to you and your company. Moreover, as a manager you always have to strive for growth and development. To achieve that aim, you have to have an effective business development strategy? Now, how are you going to do that? What does it requires creating an effective business development strategy? Read on and learn from the following tips.

1. Brace yourself up with sufficient knowledge as well as excellent management practices and strategies. As a manager who aims for growth of his or her business or organization, you have to have sufficient knowledge and excellent management practices and strategies. Well, these will all boils down to whether you will be revolutionary or evolutionary in coming up with ideas and strategies for development. The idea or strategy you will come up with will be the basis for your company to either revolutionize or evolve.

2. It takes a multi-disciplinary approach. An effective business development strategy entails a multi-disciplinary approach which includes financial, advertising and legal skills from you as the development manager. This means that you need to come up with creative ways that are flexible to be applied with just about any circumstances that may hit your business. of course, these ways should contribute to the prosperity of your business and not its failure.

3. Create a strategic marketing plan. There are various aspects in your business wherein business development strategies can help your business to grow and prosper. Strategic marketing plan, as such, will deal with the changing customer base and market dynamics. It will also aid in understanding horizontal and vertical target market opportunities and help you learn how to pick out and develop products, services or solutions to address the needs of your target market.

4. Decide on what kind of approach in planning. Take note that a plan shouldn’t be on its own to work nor will you solely manage it to work. A plan can take the form of either a ‘bottom up’ approach or a ‘top down’ approach. A plan in a bottom up approach involves employees to come up with ideas and suggestions. After which, the best one are passed on to the management. On the other hand, a plan in a top down approach involves higher position personnel such as the managers to establish the business development strategies and then, imposed them down to their subordinates. Additionally, there is the use of collaborative process where managers and employees work together as one in performing this task.

5. Evaluation. Now, after the business development strategy has been decided on, it will be your task as a manager to make sure that this strategy will work out. To do so, you will need to conduct evaluation of its weak points, strengths, the risk involve and its growth potentials. You may want to hire a strategy consultant for this matter as there are indeed, various factors that must be taken into serious consideration. However, it will be dependent on the complexities that come with its implementation. Some of these factors involve assigning of responsibilities, hiring sufficient human resources and establishing a chain of command. It will also involve a specific timeline to determine whether or not the preferred goals are being accomplished or not.

Evidently, there is no single type of business development strategy that will be enough for any business. So as a manager, you have to brace yourself up with more and more knowledge to know what works for you and your business and determine the corresponding advantages of sticking to it.

Back to Basics: Understand the Full Cycle of Business Development to Get More Contracts

My 7-year-old daughter, when working on a puzzle, knows to glance at the whole picture first, before starting to assemble the pieces. So, her process is to study the picture, and then find a corner piece to which she then starts adding pieces.

We, as adults, sometimes forget to take a step back and look at the whole picture first when we solve our own puzzles: how to grow our company, how to get a contract, or how to bring in revenue. This is why an important tip for winning government contracts is to step back and take a few minutes to ponder the full life-cycle of business development. This way we can be better at putting the pieces together.

The several steps below shows a typical business development life-cycle for a government contracting company.

Step 1: Strategic business development planning is the corner piece of the puzzle. It is necessary because it becomes your beacon when you start looking at a universe of opportunities. Businesses often fall into a trap of working without a plan, or writing the plan once, and then leaving it to collect virtual (and physical) dust while they are engaged in the routine day-to-day operations. The trick here is to stick to the plan that you keep up to date, and avoid jumping at every opportunity that may have nothing to do with the plan but seems attractive at the moment.

Step 2: Market research is the next step. It goes hand-in-hand with your strategic business development plan and makes the whole planning process somewhat iterative. In order for you to plan, you need to know which vertical markets you are going to go into, and who are your ideal customers. This leads you to more detailed research, which then feeds your planning process.

Step 3: Pipeline development is the natural outcome of your market research. Now that you know which agencies and which areas you are going to explore, you will need to zoom in further and develop a list of opportunities that you are then going to narrow down further and further as you learn more about them. These opportunities will be in the near term with a request for proposal coming out in 1-6 months, the mid-term – with an opportunity expected to open up in the next 6 months to 1 year, and long term – 1-5 years out. Some of the large and important opportunities may then make it into your strategic plan – and you may start calling them strategic bids or must-win opportunities. Marketing to the federal government is related to the overall effort of attracting customers to your company, and creating awareness of your brand and offers.

Step 4: Opportunity identification narrows down the list to the select few pursuits that you decide to dedicate a significant effort to pursue. Each of these individual opportunities then enters the capture phase.

Step 5: Capture management. Capture (yes, it’s what it’s called in the professional business development circles) often is the longest step in the business development life-cycle. It has to do with positioning yourself pre-proposal for a specific opportunity. A proposal usually has a short deadline, whereas capture may take years. It doesn’t necessarily mean years of someone doing it full time. It means years of deliberate activities all leading you up to the victory. For example, I once ran a capture effort for 2.5 years for a billion dollar plus pursuit, but only spent $50,000 on my time and the time of an entire team of specialists during the first two years. It was not until the last 6 months of the capture effort that we had to focus a lot and start spending more money.

Step 6: Proposal management. Proposal management (or proposal preparation) is essentially just that: managing the development of a winning proposal document to deliver it by the deadline. It is an iterative process that usually involves multiple contributors and a set of reviews to check quality and progress. Here are some of the most important characteristics of a winning proposal, majority of which stem from a well-run capture effort:

– Matching the solution with the customer’s wishes and vision through a solid capture effort.
– Great process that gets you to the deadline without undue stress and allows you sufficient time to polish your document.
– Targeted features and benefits, with a clear value proposition.

Step 7: BD during implementation. The reason contract delivery is part of the business development life cycle is simple: once you have a government contract, the ground is ripe for adding scope (what is called “an up-sell” in sales).

Your people who work on the project with the customer are your eyes and ears if you train them correctly in the capture process. They can find out about the need for additional work, and inform your business developer. Your business developer will pay a visit to the government representative, learning more about the requirements. They can then use this information to submit a white paper or an unsolicited proposal. This may result in adding scope to your existing contract.

Your staff on the ground can also tell your business developers about other requirements they may be hearing about that may not yield themselves to adding scope. These are new additions to your pipeline – but these additions are infinitely more valuable than others because you get to hear about them early, they are from an existing customer that bought from you before and therefore trusts you more, and you already have a relationship.

During implementation, you also generate past performance track record that you can leverage in your next proposal. On the other hand, if you don’t do well, then you get to tarnish your record with the government very quickly – and this record proliferates from this customer to other government agencies through various past performance databases. It is important that once you have won a contract, you do a great job. Do whatever it takes to deliver and please your customer.

So, now you have the big picture, and know how all the pieces of the business development puzzle are supposed to fit together.

Olessia Smotrova-Taylor is the President and CEO of OST Global Solutions, Inc. ( ). She is a currently practicing capture and proposal manager who has won more than $17 Billion in new business. As one of the proposal industry leaders, she is on the Board of Directors of the Association of Proposal Management Professionals’ (APMP) National Capital Area (NCA) chapter and served as the editor and chair of the APMP NCA Executive Summary e-zine from 2008 to 2011, and as a chapter President for 2012. She regularly presents at the APMP’s international and other conferences, roundtables, and proposal boot camps, and runs popular training webinars on business development. She is currently designing and preparing to teach a Masters-level course in proposal development for Stevens Institute of Technology. She has 17 years of experience in proposal and capture management, marketing, and communications. She is a prolific author, speaker, trainer, and blogger, and is well known in the global proposal community. Her self-study course, Executive Summary Secrets ( ), sells worldwide. Prior to starting her own consulting company, she won business for Raytheon and Lockheed Martin, and wrote for the Financial Times of London.

Best Ways To Improve Learning With Organizational Development Management

Businesses are in the process of uninterrupted change. Nobody can stop these processes. No particular action is required for changes to happen. Some changes in businesses may be positive; then it’s ordinary to use the term development. Which organizational changes are perceived ‘positive’ – that depends on the development’s desired direction. Other changes may be unexpected and when they use may be referred to like defacement. Both the organizational development and organizational defacement may be more or less conceivable; it rely upon the change influences the initial impetus or causes for the change. When the change quaffs limited and non renewable people- thus causing the possibility of a same movement in a future – the management process is not conceivable. When the change impact the cause in a direction that boosts the possibility for continuing development in the similar way – then the process is conceivable.

Managing people, events, programs and projects is both challenging and exciting. It needed a sufficient range of skills and knowledge. Effective development managers must know the organization, behave ethically, be interpersonally competent, and deal and distinguish with people and organizational problems and complexity. Current disquisition, supported by conversations with development managers, debates that learning about Organizational Development Management is needed but necessarily not considerable. Students of organizational management also need to learn how to handle the situation. Within the Organizational Development Management we concentrate on the development of personal skills and insight in vital areas of management and leadership.

Most organizational leadership management programs have to long term. The concentrate of these programs ought to be geared towards issue solving, increasing the revenue and better output. The objective has to discover a change catalyst or agent that influences the movement of a business in a positive manner. Of course, the term change catalyst or agent is about a management and leadership or a power that is leading the business towards the way of growth and success. Addition, Organizational Development Management is all about evaluating, nurturing and exploring the processes, systems, policies, and subsystems for eventual high-performance. It helps organization position in an efficient manner.

There are several influences that play an essential role in the business development. One of the most essential aspects that can negatively or positively influences development of a business is HR Management. Human Resources Department of any business plays an essential role in managing resources of a business. It’s the ability of Human resources department in keeping the resources engaged; hiring the appropriate talent and keeping the dragging rate at best level are some of the components that help in business development management. With changing organizational environment, it’s required to implement the changes in an organization.

Responsibilities of a Business Development Manager

Business development encompasses a number of activities, techniques, and strategies designed to improve efficiency and increase productivity in a business organization or firm. Professionals involved in this process of development play an integral role as they help grow an economic enterprise. Some of the various techniques and methodologies used by these professionals are marketing assessments, learning about competition in the market, generating leads, follow-up sales activity, research on target markets, and evaluation of business potential.

When appointed as a business development manager, the duties and responsibilities dramatically increase. The entire load of promoting the business, improving credibility, and increasing productivity is laid on the shoulders of the manager. He or she has multi-task roles to play in such a situation. Some of the most important responsibilities of a business development manager are as follows:

• Investigate the economic conditions of the market.

• Research on the financial issues and bring out an appropriate solution.

• Learn about the latest trends and the growing competition in the market.

• Prepare a perfect business plan in accordance to the set goals and objectives.

• Maintain financial records of the company and stay within the proposed budget throughout the life of the business.

• Improve networking with other renowned businesses in the market.

• Strengthen customer base with commitment to quality issues and high customer satisfaction.

• Learn about the expansion of other companies in the same field of business.

• Motivate employees and push to work more efficiently and logically.

• Understand the needs and requirements of the business growth plan.

• Learn about the strengths and weaknesses that someway or the other impact growth potential.

• Develop innovative techniques and adopt new strategies to keep pace with the advancing business world.

• Explore new opportunities to achieve profit targets.

• Learn about new marketing tactics and implement the same for marketing specified products and services.

• Negotiate with clients and customers to enjoy higher profit margins.

• Ensure smooth functioning of all business operations within the organization.