How do you measure business development?


If you only measure it in terms of revenue...

You're doing it wrong. ❌

Business development is all about finding growth opportunities and taking risks.

This also means that some of the activities we do don't generate direct revenue.

So if you only measure with revenue you will often think that what you're doing is useless or you will miss out on opportunities.

What you should do instead is:

👉 Recognize that BD involves taking a risk
👉 It's not necessarily a revenue center (sometimes it's a cost center in the short term, but very profitable in the long term)
👉 Be patient and remember that BD is all about generating long-term value

And finally, change the way you measure business development effectiveness:

💥 Move away from revenue and start measuring the Return On Investment (ROI)

ROI is a much better metric for business development:

Not only gives insights into the revenue potential but also into the cost and efforts associated with initiating business development.

ROI makes your measurement more accurate, helping you forecast better and plan your growth accordingly.

If you want to learn how to properly assess business development and use data to improve your BD outcomes...

🤩 Join our Business Development Certification Program 🤩

A complete A to Z training that will help you build your business development process and become more consistent.

📌 The next class is starting on May 14th.

Enrol directly at this link and become a certified business development pro:

www.thebdschool.com/courses/business-development-c…

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Become a successful business development pro 👇

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