Measurement of development can be done using certain numbers
and the things that increase in numbers compare to previous analysis...than we
understand that business is moving in the right directions otherwise some
changes need to perform.
Each business/company has different goals for business
development according to its products/services, type of business etc. Increase
in sales is not necessary a direct goal of business development, but a goal of
sales efforts. At the end, the goal of the whole company is to increase sales,
revenues and profit.
In order to be focused in business development and to
measure it correctly, specific goals should be set for that activity. Again,
goals depend on the specific company; for example, for a global company which
operates in international markets and wants to increase its presence globally,
a goal could be the number of countries/territories in which the company has
agents/distributors. Such goals should be quantitative in order to be able to
measure them.
In order for business development to be measured, there has
to be something to measure against. Usually, the benchmark is the business
plan, especially the financials of the business plan. One also has to realize,
if the plan is for a new business, the benchmark is set in loose sand as it is
only a guesstimate of what will happen or what is needed to reach.
To set a benchmark and not reach it is not all bad as the
guesstimates may have been to aggressive to be realistic. To surpass the
benchmark may not be all good if the level was not aggressive enough hence, it
was too easy to reach and surpass.
The key to measurement is to compare what is with what was
thought and see where the differences are . . . and why they are. From this the
benchmark may be changed up or down or just fine tuned. This is why a business
plan is called "a living document." It needs to be nurtured, coddled,
and caressed as the business grows.
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