New Business Development

There is something exciting about developing a new business. Bringing what was once just of a spark of an idea to life is incredible, but keeping that business alive requires a strategy from the first moment.

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New business development is a process through which you create a plan that can propel you toward the vision you have. It involves several aspects, including:

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Product/Service Design

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This is where you get into the nitty-gritty of what your business is going to be offering and answering questions like: What will you be selling? How can you make it stick out among the competition? What will it cost to create your offer?

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Business Model Design

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You need to determine how you will run the business that will follow your mission and vision and meet or exceed your goals.

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Marketing Strategy Plan

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What are your marketing objectives? Who is your target audience? How will you reach them? What message do you hope to send? Does that message reflect well on your business and its purpose? All of these questions should be answered in your marketing strategy plan.

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Capital and Client Acquisition

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How will you attract clients and generate leads? How much money do you have available? How much more do you need? How will you get the capital you need? Are there steps you need to take to improve your credit?

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Employees

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How much can you invest in employees? What positions need to be filled? What can be outsourced, such as digital marketing? What training will your employees need?

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Risk Assessment

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What risks does your company face? How can you prevent or overcome them?

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Sales

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What are your sales goals? How do you plan to meet them? How many sales need to be made to reach your revenue goal? Is that possible with the current product/service you plan to offer or will you need to expand your offerings? Do you have a sales development representative on your team?

 

These things and so much more go into new business development. It can be quite overwhelming, but you do not have to do it alone. Horizon Business Management Services can take care of many aspects by filling roles such as sales development representative, marketing and business planning strategist, digital marketing consultant, and more.

 

To learn other ways Horizon Business Management Services can help bring your dream to life and get it on a healthy start, book a consultation with us today.

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