Business Development (Machinery Sales)
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8 June 2021 at 4:21:25 am
Our responsibility is to develop the business from a current state to a much better one given a specified amount of time.
We have to drive growth in profitability, market share, and brand awareness. Here are some good practices we do;
1) We need to first understand our business by identifying;
i) Our market advantage over others
ii) Our weakness in each market
iii) Our cashflow
iv) Available opportunities in front of us
v) Business risks and threats to address
2) Discuss with higher management and key stakeholders to identify areas to priortise for development. Depending on the objective, the project interval could be from a quarter to 5 years plan.
3) We will also identify ways to measure effectiveness of our processes. One or a few project manager may be selected to oversee the implementation of our plans.
4) The common plans that we usually focused on are;
i) Hiring new staffs in a certain market to meet demands such as sales, marketing, customer support, product design, and process enhancement
ii) Relocate resources from a certain market to those that are more lucrative
iii) Partnership with companies to provide unique market solutions
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