Business Development Moment

Recommended Reading : AI in Marketing, Sales, and service by Peter Gentsch What is the difference between AI & ML? How is AI changing business development?   According to analyticsinsight.net, ‘’ AI is a technology that enables a machine to stimulate human behavior .  Machine Learning is a subset of AI which allows a machine to automatically learn from past data without programming explicitly . The goal of AI is to make a smart computer system like humans to solve complex problems’’ AI development is about managing large amounts of data in less time and with higher accuracy. The question is: will AI replace human factors? This is a controversial topic since we can't neglect human intuition, intelligence, and emotions.  Yet, current AI development takes in consideration the emotional factor like  Lovot , a Japanese enhanced emotional pet that we all love . The question is: does AI pose a threat to job security? The answer is yes and  it depends on your...

  Recommended Reading: Business Hack, The Wealth Dragon Way to build a successful Business in the Digital Age by John Lee There are so many business development tools to choose from when you are determining your business strategy. Let’s start talking about some of these tools & technologies: 1- Website: build your influence & authority.   Ensure that your company website act as lead generator either by having rich content fits your future prospects or answering FAQ about your products or services 2- Social media tools to determine the appropriate tool, ask yourself do you target B2C orB2B or both?  It’s important to know what tool you should use and educate yourself about each tool to make the right decision.  Let’s take glimpse of popular tools A- LinkedIn I prefer LinkedIn for B2B and professional networking. it helps you discover more about companies, decisions makers, and also build professional network to support your service or product. It he...

  Recommended Reading: Business Hack, The Wealth Dragon Way to build a successful Business in the Digital Age by John Lee What is business development? Should business developers be a tech-savvy? Business development is about growing your business. As a business developer in small company, you will find yourself act as a business owner. Everyone in your company is asking you, how well our company is performing? To answer this question we will dig in business development process as follows: 1- Your market Time is money. Hence, you have to discover whether your market is good fit for your product or not. If your results fall short; this means you have to test & measure new way of approaching your market. 2- Lead Generation Who will generate leads for you? What is the cost & time you’re willing to spend to qualify your leads? What's your lead generation strategy? dependent or independent? in both case you need to build online & offline presence. 3- Marke...

  Recommended Course: Winning in Business: the Art of War by Sun Tzu provided by Xuetangx A lesson from over 2,000 years old, Are you ready to learn it? How can you win in business without fighting?   The Chinese mastermind Sun Tzu brief lessons from ''The Art of War '' that you can apply immediately : 1- Know your competitors: conquer your competitor mind and attack weakness. 2- Win without destruction: know your market and manage conflict of interests. 3- Speed, preparation, and trials: be resourceful to overcome resistance & competition. 4- Morals: Win- win situation is the key. 5- Business intelligence: dominate by collecting reliable information & camouflage when necessary 6- Strategy & decision making: take calculated risk & walk your talk. 7- Illusions & reality: always have safe exits when confrontation is unavoidable. In conclusion, environment disharmony, market volatility, & personal interests need business developers’ attention. Apply...

  Recommended reading: Your Next Act by MIKE KOENIGS You can download free copy here https://yournextact.mikekoenigs.com/NextActDownload/ and write a review on Amazon to tell the world what you think Business development is about research, taking actions, making decisions. Hence, what are the foundations for taking the right decisions? As business developers you need first to think about 6Ms: 1- Mindset: Who are you? What are your values? How does your mindset work? 2- Market: Who is your ideal market and who is your customer? 3- Model: How do you generate profit & how can you measure results? 4- Message: What’s your message & how do you promote your message? 5- Media: How do you deliver your message & to whom? 6- Multipliers: what is your market tactics? How you reach your target Market? In summary, these 6Ms are your tools to achieve growth and take the right decision. You need to think and research on who you are first to excel in any business. To...

Recommended Reading: Business Analytics for Managers 'Taking Business Intelligence Beyond Reporting'' The end of 2022 is approaching. Hence, business developers are reflecting on 2022 results and preparing for phenomenal 2023. The question is: what business developers and entrepreneurs have in common? Both are creating an educated marketplace, result-driven & data-driven. Business analytics are very important to drive your company to a prosperous future. This is why business developers & owners should be familiar with business analytics. Most business developers make decisions based on business analytics. In practice, Business analytics provide answers to business developers about: 1- Company’s strategic goals and targets of the business 2- Business results ** Results must be measurable on ongoing basis & visualized on the performance board 3- Technological competencies 4- Human competencies 5- Performance indicators 6- Customer Life Cycle: for instance, CRM opt...