Business development is opportunistic as well as strategic. You probably have a focused list of specific companies you want to partner with, or perhaps of specific types of relationships youre looking for, but business development is as much about exploring whats out there and how it potentially relates to your company as it is about meeting the specific objectives you have defined. You have to be constantly on the lookout for new products, services, and companies that would be complementary to yours. Heightened awareness is also a key skill in business networking. Not only do you need to be on the lookout for opportunities for yourself, but also for opportunities to connect others based on a mutual interest or pairing someone with a need with someone who can fulfill it. In 2001, the company Scott Allen was working for did a multi-million-dollar merger that started with a Yahoo! Group conversation. Neither party was looking for that specific transaction, or even aware of each others existence. But by simply being in the right place at the right time, and being aware of the conversations taking place and how they related to their companies, they were able to initiate a very large deal.
Posted on: Fri, 28 Nov 2014 12:42:53 +0000
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