Business Development Process

Utilizing a project-based approach, participants will develop business plans by identifying areas where their company has a competitive advantage. This will involve learning how to analyze the market environment and strengths of a company in order to develop realistic business plans.

Applications

Developing new products and markets
Introducing new products to existing markets
Creating new value by re-organizing and integrating value chain or business processes

Outline

The Business Development Process is comprised of a planning and mentoring phase. The planning phase (3-7 day workshop) will address how to analyze markets, develop business plans, and present recommendations to executives, with facilitation provided by experienced instructors. The mentoring phase (3 months to 1 year) focuses on implementing and refining business plans with hands-on advice provided by experienced mentors.

Steps

Identifying business areas where potential synergies exist
Analyzing markets and conducting feasibility studies
Developing business plans
(value proposition, target customers, marketing strategy, financial plan, organization plan)
Presenting recommendations to senior management
Implementing action plans, verifying and refining business plans
Monitoring business plans

Key to Success

All participants must make the necessary commitment to participate fully in the ongoing project
Support and commitment from management after their decision to proceed with a business plan (full utilization of company resources)