Business Development

What does it mean to truly develop a business?

A lot of people look at the term "business development" and think about acquiring new clients.  This makes sense, right?  After all, a business can't grow without acquiring new clients.

I'd argue that this understanding of business development is both short sighted and harmful.  If a business is to grow, it is obviously important that it's workload continue to expand.  However this does not only occur through the acquisition of new clients.  It also requires continuous improvement within processes, procedures and policies.  It also requires continuous development of staff.

By the way, this type of continuous improvement will support the acquisition of new clients and additional work.  For the processes that attain these results are integral to a company's existence.  So, as the company develops, these processes will, as well.

As the CEO, it is my responsibility to guide this whole company development within my company.  I must allow my vision to guide me in this process.