A few Tips for Start-up Business Development

Business Development in a Start-Up environment is a challenge most young businesses are facing, especially in the initial stages of their business. Unless being a serialpreneur, entrepreneurs are not very experienced in driving a business. However, Start-Ups can do exceptional business development using these tried and tested tips.

1. Give priority to your clients.
It is extremely important. Your clients are your asset and when a Start-Up generates an unhappy client, the news spread fast. Every successful business prioritizes its clients above everything else. Even if you mess up, your extreme customer service and care will make your clients come again to you. There are many examples when services and products failed to satisfy customers but customer service did satisfy clients.

2. Learn through mistakes and failures
A well known phrase is that there is only success and learning experience. Failure does not exist. That is, if an entrepreneur is willing to learn from failures and adapt to them. Real failure is if you didn’t not learn anything. Failure is a part of the learning curve, which can be added to your experience.
This may sound trite, but true, “Good Judgment Comes with Experience, But Experience Comes from Bad Judgment”.
3. Give priority to your clients.
It is extremely important. Your clients are your asset and when a Start-Up generates an unhappy client, the news spread fast. Every successful business prioritizes its clients above everything else. Even if you mess up, your extreme customer service and care will make your clients come again to you. There are many examples when services and products failed to satisfy customers but customer service did satisfy clients.
4. Be a solution, not another problem.
Try to be innovative and offer a unique solution your competition does not offer. Do that by listening and answering your customer needs and problems. Tap their requirements and cater them and don’t try to copy your competition. By offering the same as your competition you essentially are making the pie smaller for everyone and fierce battles over customers will ensue. These battles will ultimately result in lower prices. Identify what customers aren’t getting from other companies and how you aim to provide that.

5. Make Friends and build solid relationships.
Allies and friends are a great asset when starting a new business, as these relationships will last a long time and advise most of times is free. A relationship on a personal level, rather than a business relationship will go a long way. When you let everyone be a part of your business, it is likely that the bad influence of any one might hurt your business image. Thus, find supporters who can say good luck. It also helps because you get a lot of things to learn from their mistakes.
6. Business Development does not equal sales.
The most common mistake that most Start-Up make is confusing Business Development with Sales. There’s definitely one aspect of business development which focuses on revenues but Business Development is rather a Marketing discipline, then it is a Sales Discipline.
 
7. Keep your senses open.
Be it sight or hearing. You should use it all to get all the information about what’s happening in your industry. Sometimes only a small sale gets you blindsided and you lose your grip on the industry. You should always know what’s happening in your industry. When you know about the ups and downs of market, you will find the right opportunities to tap and also know when your business needs your extreme attention.