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Old 12-17-2014, 09:28 PM
 
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It's a commonly used term, but it is used to mean anything from plain old sales to something almost resembling strategic planning. Is there a lot of variation depending on the industry?
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Old 12-18-2014, 08:45 AM
 
Location: East of Seattle since 1992, originally from SF Bay Area
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I consider that to be a commercial real estate term, meaning the growth and maintenance of business opportunities among a group of agencies, including public and private partnerships. For example, a city working with a developer to build a large shopping center or office tower.

It has also been used by companies that promote themselves as helping small businesses grow, by coming in and advising them on things like marketing, automation, budget and planning.
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Old 12-18-2014, 08:47 AM
 
Location: Indianapolis
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Business development includes strategies for growing your business, such as expanding business lines or product offerings, increasing sales through other measures, exploring new opportunities, creating a customer/client base, etc. It is a very broad term.
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Old 12-19-2014, 11:28 AM
 
Location: Central Texas
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In the software business, business development means the task of developing and building relationships with related companies. It is the task of "developing business" leveraging the products and capabilities of partner companies. Different from selling directly to end users.

BD could mean licensing technology to other companies. Or licensing from other companies instead of developing it ourselves.
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Old 12-20-2014, 10:40 AM
 
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If done well, it is the defining of your company's sweet spot, namely what you do well and most profitably, and seeking those customers who fit that sweet spot.

Also, and very overlooked, is the deepening of relationships with already existing customers. New business is a lot more expensive to acquire than simply doing more with the same customers.
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Old 01-12-2015, 06:13 PM
 
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I can speak from a lender perspective and "business development" means hands-off. It's generally indicative of a small business being sold to someone out of the industry, having 0 experience and therefore is considered high risk.

Example, a company wants to sell a roll-up curbing business: equipment, brochures, materials, etc. They sell you the business so that you can own/operate the business yourself. This business isn't a franchise, but perhaps a pre-cursor.

Hope that helps.
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Old 01-13-2015, 01:20 PM
 
Location: The DMV
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Quote:
Originally Posted by UsernameAlreadyTaken View Post
Business development includes strategies for growing your business, such as expanding business lines or product offerings, increasing sales through other measures, exploring new opportunities, creating a customer/client base, etc. It is a very broad term.
^^ This.
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Old 01-14-2015, 08:36 PM
 
Location: Berkeley Neighborhood, Denver, CO USA
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Sales without quota.
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