Why Should You Learn Business Development and How Is It Helpful?
If you’re disabled and wish to start a business or you already have a business but realise that you need some training, then this article should be helpful to you.
Business development covers many different areas. It certainly overlaps with entrepreneurship, but also gets into other topics like sales and marketing, managing people, outsourcing, networking, client management, negotiating better deals, getting referrals, and a whole lot more.
Our intention with this article is to provide some tips on topics that business development often covers and how this could be of assistance to you. Let’s get started.
Being Disabled as a Business Owner
It’s fair to say that most business development training is open to everyone who wishes to pay the course fees, but it’s designed for all business owners. It’s indeed rare to see a business-oriented course that also specifically speaks to people with a disability. The reason for this is that the considerations of someone with a disability vary so much from person to person that it’s not practical on a short course to offer relevant advice on being a disabled business owner.
We’d suggest that you take advantage of business development training. These courses will fill in any knowledge gaps that you might have. Some courses are in a classroom setting with most companies being aware of the need to provide wheelchair access. In situations where mobility is a key issue, then choose from courses that provide either online or distance learning options to make them practical for you.
In terms of adaptability of the business information to your particular circumstances, everyone has to do that. There are as many types of businesses as there are business owners. Does it make it more challenging to be disabled and run a business? Sure. However, working for someone else probably was similarly difficult too. Our advice is to adapt as best you can and to push forward. In the end, you’ll be glad that it didn’t let anything hold you back.
Get a Better Understanding of Sales and Marketing
Many business owners have never run a business before. According to the business book, The E-Myth Revisited, most owners were technicians in a previous life. If they worked in a web design studio, they were the graphics designer or senior programmer; not the Managing Director running the company.
The lack of practical experience dealing with operations and making strategic decisions on behalf of the company and all employees is important to note. It leads to knowing how to work in previous positions that you’ve been employed in yet feeling out of your depth in other areas. One key area that causes the most fear is sales and marketing.
Fortunately, there are courses that cover networking successfully to drum up new contacts, develop into leads, and eventually into customers. This is an excellent way to improve outcomes for sales and marketing. Joining local business meetings is another useful method to meet other businesspeople and network within a safer environment too. Marketing doesn’t necessarily mean cold calling in this day and age.
Improve Your Ability to Pitch Deals Successfully
Learning to pitch a potential new client is a skill. It’s not something you’re necessarily born with but certainly, some people are better at it than others. For some lucky few, they have the gift of the gab and it comes naturally. The rest of us have to work on improving. The good news is, with more pitching, skills get better at a rapid pace.
Pitching is all about having an attractive presentation that the potential client will find favour in. Simply put, if they don’t like what you’re selling, they’re not going to buy. Also, if they don’t like you specifically, it’ll be an uphill battle to get a deal. People tend to buy from other people whom they like. Therefore, it’s useful to work on creating a public persona that’s still basically you, but a friendlier version that’s more appealing. Prickly around the edges doesn’t go over so well when pitching because you’re basically asking for money in so many words. Adjust accordingly.
Don’t Forget to Close the Deal Too
Pitching also includes asking for the close. In other words, asking the prospective client whether you have a deal or not. This stops them mulling it over continually and being non-committal. Often, if you don’t ask, they won’t volunteer it either and the meeting will end unsatisfactorily. Life’s funny that way.
There are many books on sales techniques. Also, video demonstrations and practical step-by-step courses too. Your comfort level will determine which option makes sense for you and your business.
If you’ve never worked in sales before, then a longer course with visual demonstrations of sales techniques is possibly going to get you more familiar with the sales process. This can be followed up with books on sales techniques like Sell or Be Sold by Grant Cardone or several sales-oriented books by sales trainer, Brian Tracy.
Effective Company or Project Management
Running a business successfully and managing company projects well is where the rubber meets the road with business development. If you cannot do that, you’re really going to struggle to move your company from its fledgling stages into a successful UK small business.
Learning about how to manage company or project goals is important. At a company level, the traditional To-Do list loses its usefulness. It becomes too one dimensional in a constantly moving world where there are many projects ongoing to juggle.
Companies have moved to look at different ways to organise projects and tasks along with delegating responsibility to employees or outsourced personnel. Using a system to manage commitments by breaking projects and their tasks down to where they are in the work process is helpful to better track what’s going on. Doing so supports your business development objectives perfectly too. Don’t neglect it.
To track projects at this level, many small businesses use Kanban. This is not a new system, but it’s gaining in popularity to track projects more effectively. It uses a series of boards where tasks and projects sit on the appropriate board, depending on whether they’re waiting to be worked on, in progress or already completed. Using this type of system, it’s possible to get a 1,000-metre view on your business and all the plates you have spinning at the same time. This way, you won’t be buying any new china.
Developing a Business Means Managing It Well
When learning to manage your business better, customers receive improved response times and better service. This commonly leads to repeat orders or renewed service contracts, which allows the business to maintain itself. Recommendations, word of mouth and some marketing to new potential customers provide the growth.
Despite what it looks like, most businesses have systems and processes in place to ensure that they deliver what’s expected of them. These long-established procedures ensure the reliability of the services or goods they supply; at least, most of the time that’s true. Most small businesses lack these kinds of processes. It’s important to start developing them to standardise your business offering and deliver consistency to customers.
When learning the many facets of business development, you become a far more well-rounded business owner. It plugs the gaps in any knowledge that’s currently lacking. Because of this, you’ll be a better MD and manager of anyone you bring into the fold. And all of this bodes well for the future of your enterprise too.