Strategies indicate how the company will accomplish its objectives by leveraging its strengths and opportunities, and overcoming its weaknesses and threats.
Tactics are operational and indicate exactly what the company will do to achieve its strategies. Her work has been published in "Entrepreneur," "Complete Woman" and "Toastmaster," among many other trade and professional publications.
Identify your strengths, weaknesses, opportunities, and threats – these will form the basis of your plan. Business development plans provide guidance to organizations in purpose, including mission, vision and values, as well as product or service, target audience and the strategies they will use to achieve success.Successful business development plans include a situation analysis, a SWOT analysis and clearly outlined goals, objectives, strategies and tactics.A business development plan is just like the business plan you created when you started your business, but with a focus on growth and how to achieve it. It’s a long-term plan that outlines strategies for steady and sustainable business growth over the coming years. It will keep you on track and accountable, so make sure it’s clear, specific, and realistic. From there, identify opportunities for growth – whether it’s in creating new products, adding more services, breaking into new markets, a combination of these, or other opportunities. Consider your options and work out what’s best for your business. Consider the model of how professional services organizations get new business shown in Figure 1. 3 stages of the marketing funnel The first two stages of the model, Attracting Prospects and Build Engagement, are traditional marketing functions.The final stage, Turning Opportunities into Clients, is a traditional sales function.She has a Bachelor of Arts in psychology from the University of Wisconsin and a Master of Arts in organizational management from the University of Phoenix.Your business development strategy can be key to the success or failure of your firm.