Choosing a Business Development Strategy

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This long-term policy is aimed at developing an action plan that will help achieve a specific goal. To choose the method of its development, it is necessary:

conduct an analysis of competitors, target audience and product potential (will it be in demand, what value does it provide to consumers, does it solve their problems);

formulate tasks;

assess available resources.

It is necessary to perform an analysis yahoo email list of the company's capabilities in order to determine a realistic goal. For example, differentiation is a subtype of competitive strategy aimed at creating a unique product.

At the initial stage, it is necessary to develop a new offer for consumers and find out whether the company can continue to operate on the existing production base or whether it will need to be modernized. It is also important to assess whether there are enough labor resources for the tasks set. If you do not create a specific development plan with a detailed description of each step, it will be difficult to achieve the set goal.

The choice of a business development strategy should be a holistic and coherent answer to three key questions:

Where are the world and society heading?

What internal advantages (values, competencies, resources) does the company have on this path?

What do you see your business as in decades?

When answering the third question, it is important to consider the age of the enterprise. The strategy should be developed for a period equal to or exceeding the duration of the company's existence by 2-3 times. Thus, for a company that has been operating on the market for 5 years, the strategic plan should cover no more than 10-15 years.

Choosing a Business Development Strategy

Source: shutterstock.com

Another approach is to rely on the personal life plans of the management. They should think about what kind of company they want to pass on to their heirs or successors. If they intend to leave the business in 2030, they should develop a strategy until 2035. It is necessary to prepare a development plan for several years ahead, leaving a reserve of time for possible changes.

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Alexander Kuleshov
Alexander Kuleshov
General Director of Sales Generator LLC
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Stages of developing a business development strategy
Understanding the stages of strategy development helps companies build a clear algorithm of actions aimed at achieving competitive advantages and sustainable growth.

Macroenvironment Analysis
Business development depends on many external factors, including the economic situation and the positions of major players in a particular area. By analyzing the macroenvironment, you can assess potential profitability and decide whether to open new directions.

When developing a strategy for several years ahead, it is important to consider the following aspects:

Legislative norms that may affect the occupied niche. Information about them can be found on the websites of the State Duma and regional authorities.

Planned transactions of major enterprises, including mergers and acquisitions of industry leaders.

Dynamics of material well-being of the population.

Let's say a company has a small taxi fleet and there is information that a large taxi aggregator is planning to occupy the economy segment in the regions. This may be a signal to think about re-profiling the business. Perhaps it is worth considering the possibility of a complete transition to the premium class within a year.

Microenvironmental research
It is necessary to understand how competing companies are developing, as well as to find out the real needs of consumers, since the situation in other companies can affect pricing and marketing policy. The following can help in such research:

Marketing market analysis: allows you to determine whether there is growth in the industry or a decrease in the amount of money in it. Research will also help to identify the main needs of customers.

Data on other market participants: it is necessary to understand in which direction competitors are moving, what segments they are capturing and what products they are announcing.

Let's say a direct competitor of a coffee company is focused on opening points in business centers. In this situation, you can try to compete for these positions or focus your efforts on developing the "Coffee to go" direction.