Comments on: Five Reasons Why Business Development Is So Difficult To Get Right http://www.dr-smith.info/five-reasons-why-business-development-is-so-difficult-to-get-right/ Senior Adviser, Board Member, Executive Coach, Author Sat, 17 Sep 2011 14:00:20 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Michael Ryan http://www.dr-smith.info/five-reasons-why-business-development-is-so-difficult-to-get-right/comment-page-1/#comment-8835 Michael Ryan Tue, 15 Sep 2009 22:57:27 +0000 http://www.dr-smith.info/?p=150#comment-8835 Bravo! Cheers! Excellent points on BizDev vs. BizDead! As a someone who has served on more than 50 boards during the past 30 years, too often this is a critical company function/personnel that has been locked away at cottage like Cindarella while others less suited dance akwardly at the ball only to be in the wrong shoes at midnight. Michael Ryan, FACHE Chairman Executive Impact Group Bravo! Cheers!

Excellent points on BizDev vs. BizDead!

As a someone who has served on more than 50 boards during the past 30 years, too often this is a critical company function/personnel that has been locked away at cottage like Cindarella while others less suited dance akwardly at the ball only to be in the wrong shoes at midnight.

Michael Ryan, FACHE
Chairman
Executive Impact Group

]]> By: Ytzik Aranov http://www.dr-smith.info/five-reasons-why-business-development-is-so-difficult-to-get-right/comment-page-1/#comment-8834 Ytzik Aranov Mon, 14 Sep 2009 20:22:35 +0000 http://www.dr-smith.info/?p=150#comment-8834 Dr. Smith: With all due respect to the stellar and experienced background of thw writes in this discussion, I fail to see any of the real reasons in anyone's writings why BizDev fails miserably. A confirmation that indeed, the new generation of company has to re-tool or die. First, the new Customer Segmentation is a Social Community that if a company has not pinpointed their Prospects and Customers inside their targeted communities, then all their BizDev actions they undertake are like shooting a shotgun into a haystack and hoping to catch that pesky little mouse. Second, the CEO is the Big Kahuna BizDev guy and should be - as should the Board of Directors. Most significant sales historically have come from them. If they can't do it, replace them. Third, it's a global marketplace - go find the customers where they surf, where they buy, where they socialize and where they party. Fourth, Grow Inorganically. Acquire business. Fifth, create affiliates, joint ventures and alliances for business development. Fifty-Fifth - well, there's much more, but not enough time. It's a new Brave New World out there and while the basics of business have not changed - the tools of business, the speed of business, the images of business and the currency of business have radically changed. Ytzik Aranov Dr. Smith:

With all due respect to the stellar and experienced background of thw writes in this discussion, I fail to see any of the real reasons in anyone’s writings why BizDev fails miserably. A confirmation that indeed, the new generation of company has to re-tool or die.

First, the new Customer Segmentation is a Social Community that if a company has not pinpointed their Prospects and Customers inside their targeted communities, then all their BizDev actions they undertake are like shooting a shotgun into a haystack and hoping to catch that pesky little mouse.

Second, the CEO is the Big Kahuna BizDev guy and should be – as should the Board of Directors. Most significant sales historically have come from them. If they can’t do it, replace them.

Third, it’s a global marketplace – go find the customers where they surf, where they buy, where they socialize and where they party.

Fourth, Grow Inorganically. Acquire business.

Fifth, create affiliates, joint ventures and alliances for business development.

Fifty-Fifth – well, there’s much more, but not enough time.

It’s a new Brave New World out there and while the basics of business have not changed – the tools of business, the speed of business, the images of business and the currency of business have radically changed.

Ytzik Aranov

]]> By: Dr. Bill Podszus http://www.dr-smith.info/five-reasons-why-business-development-is-so-difficult-to-get-right/comment-page-1/#comment-8829 Dr. Bill Podszus Thu, 10 Sep 2009 19:21:27 +0000 http://www.dr-smith.info/?p=150#comment-8829 You couldn't have hit the nail any more squarely on the head! Unfortunatley, too many CEO's, and other senior executives, think that "Business Development" is a function for sales that equates to "bring in more sales," and that can be accomplished by "dialing for dollars," versus being a well thought out strategic function that demands relationship building, brand cultivating, industry development, and that involves an integrated product/service development activity that encompasses and incorporates all functional areas within the company. If the commitment to effective business development does not flow downward from the executive suite, and if it is not implemented and led by a senior executive responsible for its successful execution, it becomes nothing more than a distraction, and a complete waste of everyone's time and resources, and is doomed to failure. With Warmest Regards: Dr. Bill Podszus You couldn’t have hit the nail any more squarely on the head! Unfortunatley, too many CEO’s, and other senior executives, think that “Business Development” is a function for sales that equates to “bring in more sales,” and that can be accomplished by “dialing for dollars,” versus being a well thought out strategic function that demands relationship building, brand cultivating, industry development, and that involves an integrated product/service development activity that encompasses and incorporates all functional areas within the company. If the commitment to effective business development does not flow downward from the executive suite, and if it is not implemented and led by a senior executive responsible for its successful execution, it becomes nothing more than a distraction, and a complete waste of everyone’s time and resources, and is doomed to failure.

With Warmest Regards:

Dr. Bill Podszus

]]> By: Lisa Nirell http://www.dr-smith.info/five-reasons-why-business-development-is-so-difficult-to-get-right/comment-page-1/#comment-8828 Lisa Nirell Thu, 10 Sep 2009 19:16:06 +0000 http://www.dr-smith.info/?p=150#comment-8828 I have worked for several startups and growth companies. Your five points could not be more accurate. My book showcases the various emotional and financial stages that companies experience in their lifetimes. I have learned that many founders say they want to grow, but their actions do not reflect that. Running a small, profitable lifestyle business is perfectly acceptable--as long as you are clear with all stakeholders of your intentions. Lisa Nirell Author, "EnergizeGrowth NOW: The Marketing Guide to a Wealthy Company" www.energizegrowth.com I have worked for several startups and growth companies. Your five points could not be more accurate.
My book showcases the various emotional and financial stages that companies experience in their lifetimes. I have learned that many founders say they want to grow, but their actions do not reflect that.
Running a small, profitable lifestyle business is perfectly acceptable–as long as you are clear with all stakeholders of your intentions.

Lisa Nirell
Author, “EnergizeGrowth NOW: The Marketing Guide to a Wealthy Company”
http://www.energizegrowth.com

]]> By: Paul http://www.dr-smith.info/five-reasons-why-business-development-is-so-difficult-to-get-right/comment-page-1/#comment-8827 Paul Thu, 10 Sep 2009 13:23:44 +0000 http://www.dr-smith.info/?p=150#comment-8827 Sadly, This is so true... "Three: Business development is seen as the province of middle-level people. Think of the message that such an approach gives potential new clients. “Talk to the ‘lessers’ and, if we deem you worthy, we will let you talk to the senior people.”...... I broker software development and find that if I can talk to the principals about the business process my success rate is many times higher than when I am stuck talking to a mid level manager who can't make critical decisions. But also those who aggregate all decision power in the single leader are problematic. There needs a balance and accessibility to the top and a clear chain of command. The way I see it is there must be responsibility with authority through the entire management system. Business success must embrace a culture of 'team' not fear. Paul Sadly, This is so true…

“Three: Business development is seen as the province of middle-level people. Think of the message that such an approach gives potential new clients. “Talk to the ‘lessers’ and, if we deem you worthy, we will let you talk to the senior people.”……

I broker software development and find that if I can talk to the principals about the business process my success rate is many times higher than when I am stuck talking to a mid level manager who can’t make critical decisions. But also those who aggregate all decision power in the single leader are problematic.

There needs a balance and accessibility to the top and a clear chain of command. The way I see it is there must be responsibility with authority through the entire management system. Business success must embrace a culture of ‘team’ not fear.

Paul

]]> By: Ed Warner http://www.dr-smith.info/five-reasons-why-business-development-is-so-difficult-to-get-right/comment-page-1/#comment-8826 Ed Warner Wed, 09 Sep 2009 23:51:02 +0000 http://www.dr-smith.info/?p=150#comment-8826 Dr. Smith, I agree with your comment that it is "seen as the province of middle-level people." A step further, business development is more often than not confused with lead generation or demand generation. I wrote an article http://su.pr/1M5MST wherein I stressed the importance of having a plan. This applies to business development as well. I think executives expect too much, too soon. Everything is top down. Fail to follow that, especially for a small or start-up company guarantees failure. Nice article! Ed Warner Dr. Smith,

I agree with your comment that it is “seen as the province of middle-level people.” A step further, business development is more often than not confused with lead generation or demand generation. I wrote an article http://su.pr/1M5MST wherein I stressed the importance of having a plan. This applies to business development as well.

I think executives expect too much, too soon. Everything is top down. Fail to follow that, especially for a small or start-up company guarantees failure.
Nice article!

Ed Warner

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