Business Development…what is it?

Ok. So ‘ve had this presentation for a bit and felt it was time to put it out there both as a refresher course and a “newbie” course for those that don’t quite get what Biz Dev is.

Here isa link to a presentation that is fairly simple to understand, once I get audio put to it we will do more to get it out to everyone in the business world.

Many think this is elementary stuff, but I’ve been running into too many people that just don’t understand that when times are slow that is when you make your best investments in your marketing, and TRACK THEM! Then you follow your sales through and make sure your conversion ratios make sense, then you do it again. (you know; wash, rinse, repeat as necessary)

Here’s the link: Click here

Once you’ve gotten here,  comment and give me your thoughts on what you think are necessary steps to making business deveelopment really work in our now economy…and be careful, there are a lot of emotions running right now, be critical in your thinking, find facts not feelings.


1 comment so far

  1. Bernie Iacovangelo on

    I believe we are in the beginning of the New Business Revolution of the 21st Century. The dymanics of this Global Financial Crisis is going to change how business is done for the remainder of this Century.

    In the U.S. we have been a Consumer driven economy that never thought that it would ever see a near fatal economic crisis like the Great Depression. Well you are in it and it is not going to be over until 2011 or 2012. Then are you prepared for the New Business Climate that will evolve.

    I believe that I am and have been for a while. In the early 1990’s with the other financial crisis that was caused by the Savings and Loan Crisis, we saw, in our Community of Rochester, N.Y., the commencement of the transformation from a maunfacturing based economy to a service based economy. Eastman Kodak Company, which had 68,500 employees in Rochester in 1987, had indicated in 1991 that they were going to lay off 20,000 workers. Today they have approximately 6,550+/- employees in Rochester. The same went for Xerox and Bausch and Lomb. This does not speak for all those companies that had left Rochester: General Dymanics, Gerber’s, Taylor Instrument, French’s, Ritter Pfaulder, etc.

    We decided that as a result that we would right size our company and take a niche that no one wanted. That was building new homes for the working family starting at $99,900. They could choose between a Value Series or a Luxury Series, whichever fit their finacial comfort zone. The only competition we would have was existing homes that were older, needed constant improvements, had someone elses personality and were not energy efficient.

    The basis of our business operation is that we would provide a great product with the best components at a reasonable price. Our Gross prifit would be lower, but we would make it up with volume, minimal service, and an efficient operation to keep our overhead in line.

    We brand ourselves as the Company that built homes for the working family and we advertised it in the newspaper, on TV, on Billboards, and with a website that would attract those that were tech savvy.

    As a result, all of our suppliers and subcontractors had to buy into the philosohpy and they did. Everyone had work 12 months a year and they outperformed others. This gave us stability, consistency and a zero defect product. The by product was a referral rate of 30%.

    Even in this down market, we have found that our business philosophy is the new paradigm for the 21st Century. People will be working for lower wages, with more responsibility and therefore, will be looking for value. they will want to have savings which was not a part of the equation in the past. The will look at their money as something to treasure not just to spend into the future, as was the mindset of the past.

    Remember, individuals lost 40-50% of their wealth in the past 2 years. They never thought that would happen and they will never forget it. they lost the money, the value in the homes, some their jobs, and they still had all their debt. This provides the foundation for a new method of financing your life and changing your lifestyle is a necessary prerequisite to having sufficient funds to pay for it all and still save money.

    Value is the name of the new game. Efficient operations is the only way to make a profit from thin margins and doing it with minimal bank debt means reinvesting the profits in the business. the business must be liquid to succeed. The banks always want to lend to you when you don”t need it.

    These are great times for those that have the desire to change, the energy to meet the challenges of tomorrow and the preserverance to stay the course.

    This is just my thoughts.

    Bernie Iacovangelo

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