Developing Business Plan

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The result of all this activity should be an increasing awareness of your firm among your target audience — and a stronger flow of qualified leads and opportunities.

Download the Marketing Planning Guide: Third Edition Historically, business development has been a subset of the marketing function that was focused on acquiring new marketing or distribution relationships and channels.

Your business development strategy can be key to the success or failure of your firm.

In this post, we’ll explore how to create a strategy and associated plan that can propel an individual, a practice or an entire firm to new levels of growth and profitability.

The preference for Seller-doers also tends to discourage firms from fielding a full-time sales force.

As an alternative approach to leveraging fee-earners’ time, some firms have one or more Business Developers on staff.

Presumably this is done because the organization believes that the BD designation avoids some possible stigma associated with sales.

Nowhere is this practice more prevalent than in professional services.

Your executive summary should include information on the history of your company, an outline of your objectives, a description of your product or service, information on your market and projected growth, an overview of your management team, and a powerful statement about the strengths of your business and why you expect it to succeed.

The executive summary is primarily an outline of your business plan, but must be written in a way that encourages investors to continue reading. Sandra Ketcham has nearly two decades of experience writing and editing for major websites and magazines.


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