Business development

Posted by bowraven on 16 May, 2008 under Business advice, Business development | Be the First to Comment

Business development involves a number of techniques designed to create and grow a business, however, there are many small businesses that are so bogged down in fire fighting and caught up in running their business that business development is the last this on their minds.

Increase profits and the 6 ways to grow a business software is a good way to start this process off. Using this software can help to identify ways you can increase your profits and without necessarily having to increase your prices!

I know that most business owners are very price sensitive, as can customers be too, it is important to identify other business development opportunities that are in your business.

One thing that most business owners forget is that their most important asset is their customer base. Many companies spend thousands of pounds or dollars on attracting new business and forget that they already have exisitng customers that could be sold to with other product lines or services.

I was amazed the other day, I use Tiscali for my broadband at home and noticed that they were offering some good deals to attract new customers. I telephoned to see if I could go on to one of these deals (and I was not necessarily asking for the introductory cheap first six months) but the price that these deals revert to after that. I could not beleive what I heard when the phone operator told me that these prices are for new customers only!! I asked her, surely you should be looking after your existing customers so they stay with you, but this was completely lost on her!

I did in the end get a good deal by threatening to leave if I did not get a good deal, which to my way of thinking is not good for business, if customers have to act in this way to get the same deal as new customers.

In short the message that I am putting across is for business owners to really value their exisitng customers and not only to provide a good services, but also to look for new services or products to sell to them. From a marketing perspective it is much much easier to sell to an exisitng customer, than it is to sell to a new one. The reason for this is simple, so long as a customer is happy with your present customer service, they already trust your business.

Business development is an on-going process and looking at the 6 ways to grow your business is just a small part of this process.