Business development involves building the future, meaning that what is built today can be enjoyed tomorrow. A blunt phrase from the famous American investor Warren Buffet summarizes the importance of development and it says: If today you sit under the shade of a leafy tree it is because someone planted it a long time ago Local content. Therefore, business development is concerned with helping entrepreneurs improve their existing skills and capabilities to become more competent in running their businesses.
What is business development?
Business development is defined as a process of improving the skill set and knowledge of entrepreneurs with respect to the development, management and organization of a business. If we want continuous progress, entrepreneurial minds are needed at all levels of the organization. To achieve this, employees must feel that they are in an environment that values entrepreneurship.
How to promote business development in the workplace
We cannot ignore that the world has changed radically due to the digital revolution . This digital environment, basically, significantly defines the path followed by the business development of companies. Therefore, the promotion, support or stimulation of business development has a strong technological component. Let’s see how to promote development together with our collaborators.
- Develop a statement to encourage entrepreneurship
The organization supports and promotes the participation and initiative of its members to improve the company. In this way, it fosters internal entrepreneurship based on its own values and expresses its culture in a simple and concrete way. - Create a link between employees and the company
The entrepreneurial spirit has a great component of a sense of ownership, of belonging. Therefore, it is essential that employees feel the company as theirs. Creating a bond of trust undoubtedly helps in business development. - Error as a learning opportunity
Just like life, there are successes and mistakes, committing them does not necessarily have to be synonymous with dismissal or punishment. It should be a space to learn from them and obtain vital information to avoid them in the future. - Entrepreneurship is a mindset
Entrepreneurship is creating value in creative ways or building solutions in a way that has not been done before. Company leaders can encourage this type of thinking by simply allowing their people the space to try new ideas and providing resources to see them through. - Recognize and reward
An organization should recognize and reward employees whose ideas benefit the company. Employees must understand that the company supports new ideas, that trying to create something new is positive for the company as well as for themselves. It is a way to empower the value of employees. Great ideas that need further development must get the necessary financial support.
