PFOC: Making Your Great Business Greater

Business development is the ideas, initiatives, and activities that help make a business better. This includes increasing revenues, growth in terms of business expansion, increasing profitability by building strategic partnerships and making strategic business decisions.

Sales, strategic initiatives, business partnerships, market development, business expansion, and marketing—all these fields are involved in business development. Business development activities extend across different departments, including sales, marketing, project management, product management, and vendor management.

Networking, negotiations, partnerships, and cost-savings efforts are also involved. The key facets of business development are:

  • Building strategic partnerships for future business growth and considering potential partners in business.
  • Looking at existing markets and development opportunities.
  • Growing company reputation with a well-grounded business plan.

Why Is Business Development Important?

When it comes to organizational growth, business development acts as the thread that ties together a company’s functions and/or departments. IT helps a business expand and improve sales, revenues, product offerings, talent, customer service and brand awareness. There are several key areas that business development can help effect change and promote growth across departments. Here is why business development is so important:

  • Building Relationships

Whether cultivating new talent, networking with prospective partners, or courting potential customers, relationship-building is an integral piece of the business development process. A savvy business developer can home in on the relationships that demand the most attention. Connecting with clients, colleagues, and other members of one’s network can be fundamental to identifying new business opportunities, generating leads, and making critical decisions.

  • Boost Revenues and Lower Costs

Business development is a key strategy to boost revenues and lower costs. Growth is the end game of business development. The Key to business development is to devise strategies to help increase the amount of money that’s coming into an organization, while making sure less money is going out. Focusing on business development helps an organization identify which markets and products have the most profit potential, and which deals to chase first.

  • Company Image

Business development helps improve a company’s overall image. Marketing is vital to a business’ growth, and business developers helps an organization build better brands. They work closely with marketing teams to develop campaigns to solidify the company’s target audience and reach new customers and markets. Business development leaders use their insight of the company’s inner workings to help form new marketing campaigns to guide potential customers to products and services that benefit them and the company mutually.

  • Expansion into New Markets

Business development opens expansion into new markets. Tapping into new areas of opportunity can be a very lucrative growth strategy. Staying on top of market trends and opportunities by analysing demographics and customer data, a good business developer like PFOC will find ways to explore new markets and get access to new segments of the customer base.

Business Development Services offered by PFOC? 

PFOC offers the following services to facilitate business development:

  • Customer Interaction with a product to establish issues.
  • Talk to the Product Development Team to create a product the client wants.
  • Work with Marketing to develop new branding and rollout.
  • Generate Potential Leads before passing them on to the sales department.
  • Look at New Strategic Partnerships to help reach the customer.

PFOC: Progress is Right Around the Corner

PFOC eliminates the need to search for an all-encompassing accountancy and finance firm. Our corporate headquarters in Johar Town, Lahore provide practical and efficient solutions to all your accounting and financial needs.

The skilled tax and finance professionals at PFOC, work diligently to make your life simpler by reducing financial stress and making business models more lucrative and efficient in accordance with up-to-date regulations.

Expert Advice

Ali Sarfaraz
Business Development Consultant

Business Development is all about developing a superior value proposition and then communicating it relentlessly to the people out there. PFOC’s entire team is geared to be your business’s Business Development Managers – Connecting Businesses and Customers Across.
Book an appointment with me today to know more on how we can help your business champion itself in Pakistan’s market.

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