Understanding Why You Need Business Development

By Anna Kennedy

Part of Business Development For Dummies Cheat Sheet

Most small business owners start their businesses because someone promised them business if they did so. Even with quite a few supporters, however, early success can start to fade unless you’re proactive with business development. Here are a few reasons why you need to shake the trees:

  • ‘Build it and they will come’ is a risky strategy. Few businesses grow this way.

  • Your own network, even if large, is still limited.

  • Not everyone you know wants to buy what you’re offering. Sad, but true.

  • At some point, you have to go wider and reach out to the big, bad market for new customers.

  • Customers don’t care about you, no matter how good you are. They care about what’s keeping them awake at night and whether you can solve their pain.

  • Don’t forget the competition. Get to know your enemy.

  • You don’t grow if you focus on the work when you’re busy and on business development when you’re not.

  • You want the right kinds of customers, not just any customers.

  • You want your company to stand out from the crowd, so have something really valuable to offer.