Imagine working for a company without any employees dedicated to growing and developing the business.
Nobody to challenge you to improve or tell you about new business opportunities, changes in the market, what your competition is up to, or how you can attract your target audience more effectively.
This would make it pretty hard to succeed, don’t you think?
That’s why companies establish business development practices and hire employees to focus on these tasks (among others) to help them grow.
Business Development is the process of implementing strategies and opportunities across your organization to promote growth and boost revenue. It involves pursuing opportunities to help your business grow, identifying new prospects, and converting more leads into customers. Business development is closely tied to sales — business development teams and representatives are almost always a part of the greater sales org.