Building a More Flexible Business Development Strategy

It is in the nature of an entrepreneur to start with a hands-on business development strategy; the newborn company seems fragile and in need of as much guidance as possible from the “man behind the curtain”, so-to-speak. But as a business grows, the business development strategy needs to have the flexibility to break free from owner involvement. Of course, an owner should still be involved at the top level. However, if an entrepreneur has freedom of movement to take a step back, he or she can focus more energy and time on expanding the business and reaching a larger client potential.

They are six steps in progressing to a more flexible business development strategy:

1. Automate tasks

Computers continue to learn functions previously performed by humans. Some tasks that were painstakingly onerous or time-consuming are now as simple as running a software program. Take advantage of new technology. Allow computers to do work for you when possible and save yourself time. They make fewer mistakes at less expense to your budding business.

2. Connect digitally

Enable functions of your company to be carried out and shared online. That way, you can access your business information and complete tasks from almost anywhere in the world. Working from the beach is now a possibility!

3. Market online

Creating an online presence will increase public outreach and generate more revenue. After all, how can a customer buy your product or desire your service if no one knows you exist? On the upside, online marketing can, once again, be accomplished from almost anywhere in the world regardless of where your company is based.

4. Outsource

Employees can be costly, but you can’t build your company to its highest potential with only computer support. Certain tasks require a human mind and opposable thumbs. Whenever possible, outsource your business needs rather than hire directly. This will save you money while continuing to allow your business to flourish.

5. Bestow decision-making power

For some entrepreneurs, stepping back from making all of the company’s decisions is the most difficult part of building a more flexible business development strategy. But it is a crucial step, nonetheless. To do so requires finding the right employees to trust and empower.

6. Enhance recurring business

Building lasting customer/consumer relationships is just as important as finding new ones. The ultimate goal is not simply to secure one purchase and never see them again. Rather, it is to secure their lasting loyalty to your company. These types of valued customers and consumers help stabilize the foundation of your growing business, giving you the consistent income necessary to take risks.

As your business grows, harness your entrepreneurial spirit and grow alongside it. Be willing to utilize new software, outsource, and empower employees so that you are able to take a step back and lead from a higher level. This kind of flexible business development strategy will open your time up to focusing on the larger questions such as which direction you want the company to go and how to bring in new customers.

A flexible business development strategy may include purchasing a pre-established business that you can improve upon. If you are ready to lead a successful company, start by searching the thousands of businesses up for sale by Sunbelt Business Brokers.