10 Myths About Business Development

Keys to Business

A lot of things are said when people do not understand something. Thanks to the internet a lot of myths are being debunked online. The common myths used to be about mysterious topics such as the workings of the best online casinos such as sun vegas casino. However now the myth making machine has moved to more mainstream disciplines like business. Below we have listed 10 myths about business development.

Top 10 Myths About Business Development

  1. Business development is the same sales. This is not true at all. Just as generating income (Sales) and facilitating a more beneficial operating environment (business development) are not the same thing.
  2. There is a universal business development strategy. How can there be. Businesses all have different needs. It is therefore important that your strategy be tied to your development goals.
  3. Small companies do not need someone doing business development. Bets with better odds of success are available at https://www.cancasinos.ca/ . Size does not matter. Running a business and ignoring business development is a dangerous gamble.
  4. It is just about the deal. It is bout building relationships that result in a business arrangement being reached. If a deal is not worth sealing it is best to leave it.Business Myths
  5. Business development requires a lot of money. In reality there are several ways to facilitate the development of a business without breaking the bank.
  6. Only the tech savvy can be business development professionals. As much as this statement is utterly wrong, spending a couple of hours online will solve the problem of not being tech savvy.
  7. Business development is an exact science. No, it is not. Businesses are all unique regardless of how similar they may look. A good deal for firm A might have an unacceptably high opportunity cost for firm B
  8. Position of business developer is part-time. Maybe in the short term but not in the long run. This is a full time position.
  9. All deals lined up for business development are good for the business. Management needs to be careful not to be lead into costly deals by overzealous business development workers.
  10. The business developer should manage the account after the deal is signed. For greater efficiency, the task of managing the account should be given to someone else. The account manager then has an incentive based responsibility to make sure the deals are fruitful.

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