There has always been confusion around the term business development. How many times have you heard someone put the title of business development director on their sales manager?
There really is a difference between business development and sales. Just as there is a difference between networking and selling.
While speaking to my long-time colleague, Scott Jensen, the other day, we broached this subject again.
“Business development is really the successful integration of marketing, sales and service,” Scott said to me. “Each component, of which sales is one, plays a role in developing new business.”
After our discussion, he produced an elaborate slide that told this very story. Rather than republish his complex and massive graphic here, instead I’ll pull out the key three points that made the most sense to me and are at the heart of his discussion:
- Marketing makes claims to stimulate need.
- Sales asks questions to clarify need.
- Service takes action to fulfill the need.
This is a simplification, but it is at the heart of defining business development: BD is not just sales. Sure you’re developing business (making connections) to make sales, but you are also developing businss (solving problems and fulfilling needs) for clients.
Remember to use this balanced attack and even your smallest business will benefit.
Relentless
