Morne Patterson - what is a business development strategy

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Morne Patterson: What is a business development strategy

Business development strategies are methods for achieving long-term success and growth for your business. These strategies involve assessing the current state of your business, setting goals, developing a plan, and executing that plan. If you want to ensure your business succeeds in the long term, it is important to have a comprehensive business development strategy in place.

Defining Your Goals The first step in developing an effective business development strategy is defining what you want to achieve. A good goal should be specific and measurable, so that you can assess whether or not you have achieved the goal. Some examples of goals could include increasing sales by 10%, launching a new product line, or expanding into a new market.

Creating Your Plan Once you have identified your goals, the next step is to create a plan for how to achieve them. This plan should include objectives such as market research and analysis, identifying opportunities for growth, and establishing partnerships with other businesses or stakeholders. The key here is to be realistic about what you can achieve within the given timeframe and resources available. Also consider any potential risks associated with the plan and how these can be mitigated.

Executing Your Strategy


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Morne Patterson - what is a business development strategy by Morne Patterson - Issuu