Business development professionals face challenges and obstacles every day. The decisions you make now have consequences for your business in the long run. Avoid common mistakes that business development professionals make to save your career and increase sales.
What mistakes can you make in business development?
If your marketing efforts are gaining momentum and sales are going well, it does not guarantee that the business is developing in the right direction. Knowing what to avoid and learning from others’ mistakes can help you improve your business:
- Living «in the weeds»: one of the most popular mistakes in business development is endlessly getting entangled in the weeds. Often they get bogged down in minor details related to marketing processes or administrative tasks.
- Lack of faith in what you are selling. Sometimes sellers sell products and services they don’t believe in. It is unlikely that you will be able to achieve heights by selling something that, in your opinion, is not relevant or worse than the competitors’ offer.
- Minimum effort to build strong relationships: growing a business is different from just closing a deal – it’s a long-term relationship that can’t be built overnight. If you’re not willing to give a little, whether it’s time, your network, or your product or service, you’re unlikely to get a return.
It is crucial to allocate time wisely for business development. Don’t waste time and resources on activities that don’t connect directly with customers. In other words, it’s not just about having a great product or service and a good story to sell it but also about gaining valuable experience in implementing a competent business development strategy.