In a hurry but want to learn how you can develop your business more effectively? These five quick and easy business development tips will help you improve your prospects and grow your enterprise … and they aren’t hard to get your head around at all!
Hire The Right People 
There’s a famous saying that goes “there’s no I in team”. When it comes to business development, this maxim certainly rings true. Hiring the right people is one of the most important strategies for developing your business effectively. With talented staff matched properly to the roles available, your business will be able to take off.
Save Money For A Rainy Day
During the start-up and earliest phases of your business, you need to make sure that you put away some money for a rainy day. Cash flow is the life force of any business, and one late payment from a big customer or an unexpected bill could cause some serious headaches. By having cash reserves you don’t need to worry so much about this kind of negative eventuality from occurring. This will allow you to make bolder decisions that have the potential to result in better growth for your business.
Refer To Your Business Plan
We’ve talked before on Business Insight about the importance of having a good business plan. Provided you put in the groundwork when creating your plan, one of the best business development strategies you can deploy is to refer back to that plan regularly and ensure you are on track to reach your targets. This will help you reach the vision you had when first planning out the success and growth of your business.
Contact Past Clients For Upsells/Repeat Work
It’s no big secret that it is usually easier to get repeat business than sell to a new client or customer. Therefore, one of the simplest and most effective business growth strategies you can use is to follow up with past customers on a regular basis. Something as simple as a posted card or personalised email might jog their memory and entice them to spend again with your company. Once per quarter is generally accepted as the best timing for getting back in touch with past leads.
Go The Extra Mile For Clients And Customers
As a rule people only remember two types of service – the downright awful and the truly outstanding. Make it your aim to be remembered for the latter (and not the former) and avoid falling into the mire of so-so service providers. This means going the extra mile for your clients and customers. Whether it’s providing a freebie upsell or concierge service, you’ll only do good things for the development of your business by going beyond the call of duty.
Deploy these five business development tips and reap the rewards. You’ll be able to grow your business, as well as have the resources and ability to weather the inevitable storms that come the way of any organisation.
