The Business Plan In A Business Development Strategy

When a business development team completes the analysis of the company and its potential areas to improve, the team develops a business plan to implement new changes. It’s not a business plan you present to investors or a bank when asking for a loan, and it’s a different plan that focuses on implementing changes. Please keep reading to learn more.

A Business Plan To Implement Changes To The Company

When the business developer analyst knows what areas to improve, they suggest a business plan to the company’s owner. For instance, the analysis shows that the company’s product can be exported to Columbia since the target audience in the country is likely to buy these products. 

Moreover, the plan suggests renting one big office building rather than five buildings in different locations. The calculation shows that it will save around $20,000 annually.  

Overall, the business plan, in this case, can include several objectives, such as:

  • the development of a new business line;
  • the development of a new sales channel;
  • the improvement of brand awareness;
  • the development of a new product;
  • the development of new partnerships in new or current markets;
  • cutting expenses;
  • finding new vendors.

Typically, company owners prefer to work with external teams regarding business development. However, as the business grows, experienced leaders and their teams acquire these skills to develop their strategies.

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