Often misunderstood as a “dark art,” business development is actually the strategic powerhouse driving organisational growth.
At its core, business development is about seizing opportunities, forging key relationships, and boosting revenue through partnerships, market expansion, and innovative offerings. From networking to strategic planning, it’s all about turning insights and connections into tangible results for long-term success.
When done right, business development feels effortless, as if new projects and clients appear out of nowhere – when in fact, they’re the product of months or even years of effort.
Like it or not, business development is crucial. It’s what keeps the lights on and your team employed. The sooner it’s embraced and understood, the better.
“That’s Not My Job!”
So, who is responsible for business development?
If you asked your entire organisation, how many hands would go up? Typically, only those with “business development” or “client relations” in their titles – those who schmooze clients with a company credit card.
In reality, EVERYONE is responsible for business development. Every team member represents your brand and waves its flag daily.
Not everyone is a master networker, nor do they need to be. Sometimes it’s the technical expert who does such great work that clients keep coming back. Smart businesses play to these strengths: sending out the networkers to hunt for new opportunities while supporting the specialists in maintaining strong client relationships.
Success hinges on your entire team knowing what excellence looks like, understanding your brand, the work you want to win, and their role in helping you thrive.
Out with the Old, In with the New
Business development doesn’t always have to focus on the “new.” Nurturing existing clients and collaborators often delivers a quicker return on investment (ROI). They already know you and your business, but do they know the full extent of your capabilities? And do you understand the full range of opportunities they could offer?
It’s easy to assume that clients who hire you for one project understand everything you can do. In reality, that’s rarely the case. It’s up to your team to keep communication lines open, understand your clients’ needs, and explore how your organisation can support them further. Take every opportunity to share updates on your broader services, cross-sell other divisions, or simply signal that you’re ready for the next project.
“But My Best Contacts Are More Like Friends Now!”
People buy from people they like and trust – this is a fact. If I enjoy working with you, I’ll likely find ways to continue. However, when a working relationship turns into a genuine friendship, it can feel awkward to ask for the next project.
Or maybe you keep getting the same type of work from this friend but are overlooked for the larger, high-profile projects.
In this case, it’s time for a change. Be brave and address the elephant in the room. If you want a piece of the pie, you need to position your organisation as a contender. Too often, we hear, “Oh, we didn’t know they could handle XYZ!” They didn’t know—so it’s your job to tell them!
Sourcing and Converting New Clients
Start by identifying the clients who are doing the work you want to do. Then, understand what these organisations need and how your team can meet those needs. These organisations likely have existing relationships, so you need to figure out why they should engage with you. This is the “so what” of business development.
Next, think about how you’ll connect with them. Researching these organisations gives you a head start on discovering what interests them or keeps them up at night. Are they attending or sponsoring any events you could join? Are their key people active on social media? Do you share mutual connections? There are many ways to connect, and it’s not a one-size-fits-all approach. Understanding the unique value you bring to prospective clients is crucial.
“I’ve Connected with Some Interesting People – Now What?”
After making contact with target clients, don’t just sit back and wait. Swift and relevant follow-up is key. Schedule the coffee meeting you discussed or arrange the project walkaround you promised. Building a trusted, long-term relationship is all about actively listening to what the other person needs and delivering on your promises. Nail these two aspects, and you’ll be ahead in the business development game.
“It’s the Summer Holidays – Is There Any Point in Worrying About Business Development Now?”
August is traditionally a “feet-up” time for many—a chance to take a well-deserved break. But it’s also the last bit of downtime before the ramp-up to the festive season and can provide an ideal opportunity to pause, reflect on the year so far, plan for Q4, and start thinking about next year’s objectives. And yes, you can sip a piña colada while doing it.
In Summary
Business development is a team sport that takes time, practice, and patience. There’s no one-size-fits-all approach; success comes when everyone pulls together to share intelligence, surround opportunities, and hunt as a pack.
To do this effectively, everyone needs to understand the end game – who you’re targeting and for what type of work. It’s also crucial that each team member feels comfortable with their business development style, whether it’s pursuing new leads or strengthening existing bonds.
Organisations that integrate this mindset into daily activities will see business development transform from a dark art into a shining success – one where the whole team is empowered to play their part.
Read more:
Business Development: Dark Art or Business Essential?