Bilal Basrai and Successful Business Development

Bilal Basrai grasps that business development is centered around the desire to strengthen existing ties with clients while also cultivating the potential for new customers. To create a business development plan that is effective, an entrepreneur should follow this advice.

• Business development and sales are not the same things, nor should they expect to garner the same results in a company. While sales are essential to a business as they drive revenue, they will not give the company longevity when looking for greater leverage. Business development is more interested in building future leverage for driving future streams of revenue.
• In the most profitable situations, the account management team and the business developer will work hand in hand to ensure accountability. Having both of these positions filled by more than one person makes for a checks and balances system that is more productive and effective.
• The best business development models suggest an approach to production that is quantitative as opposed to qualitative. This means that the company's focus will be geared toward the driving down of costs, the increase of customer bases, and the overall driving of revenue. In essence, decisions must be made as to what areas are the most valuable and viable to the long-term profitability and success of the business.
• A business development system without the proper level of responsibility between owners and partners is often doomed. While high profits and revenues are easily cheered among all members, when times turn and the company suffers a loss, those who are not responsible will quickly point fingers and lay blame. Each decision-maker in the business should share responsibility and support of the whole enterprise.
• Finally, a well-planned business development strategy will make only the deals that are truly useful to the business, as Bilal Basrai has learned over the years.