What do you mean business development? That is the question I always get when I tell people it’s what I do for a living. Business development is best described by Scott Pollack on Forbes as, “…the creation of long-term value for an organization from customers, markets, and relationships.” However, I would never use that definition to describe it. Not that I find that definition to be incorrect or anything, but rather I find it to be a bit too complex. To keep it simple I just tell people that I help build businesses. Realistically that’s what I do, by building a business and all that is involved with in a business, I am creating long term value for the organization. To further expand on all that I do, I also cover marketing, recruiting and consulting; business consulting to be more precise, which is also knows as business development (depending on the source for the definition). I hope you can see the loop that has been created by expanding; this kind of takes me back to square one where I just say business development. If you want it broken down a little better here it goes:
- Business Development: building relationships, customers and markets.
- Marketing: Integrated Marketing Communication(IMC) approach to reach desired customers in desired markets.
- Recruiting: hiring well qualified people to effectively play a key role within IMC.
- Consulting: All of the above hired by an outside company for a period of time.
I have had conversations with other professionals within the industries and some have disagreed with the way I define my business. I understand the objections when each item above is broken down into technical terms, because their definitions without specifics can be very vague. However I believe that at the end of the day it covers building a business. That’s why I prefer to say I help build businesses for a living. Now, if only there was a word to define that.
If you have any questions feel free to reach out to me 951.707.8474 and remember I am simply here to serve.
Sources: Forbes website; http://www.forbes.com/sites/scottpollack/2012/03/21/what-exactly-is-business-development/