Strategic business development is the process of determining the potential value of novel and visionary approaches to grow your brand, your market, and establishing your company as an industry leader. Strategic business development is distinct from the sales development process and requires its own separate focus and company resources. Proven examples of successful strategic business development include forming mutually beneficial partnerships, including the now-famous concept of “co-opetition” where a group of competitors joins forces to improve and grow a market. Other examples are to lead the formation of an industry consortium to achieve a very big goal or leading the definition of a new industry specification in a well-known standards organization. These types of activities can have a significant positive impact on your brand image, sales revenue, and your reputation as an industry leader. Mayo615’s founder, David Mayes has successfully used all of these strategies in his career. Mayo615’s consultants work with the client to fully understand the possible opportunities to exploit one or more of these strategies for the client’s business and present a specific set of recommendations on how to proceed. We can also advise you along the way.
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