How to Build a Culture of Business Development

Business Development Meeting

A culture of business development is when responsibility sits not just with the leadership or sales teams, but with everyone in the company to help move it forward and produce sales. This requires everyone in the business to understand how their role fits into business development and the kind of influence they can have over it.

This kind of culture can have huge benefits for a business, not just with an increase in sales and revenue, but also in camaraderie between employees and higher staff retention rates.

Tactics On Building Business Development Culture

 

There are a few different areas to consider when trying to implement business development culture in your own business.

To start with, you need to take a look at your recruitment and onboarding process. It’s vital that you identify people with the right skill set right from the start, making sure they’re a good fit for the role, the team and the business as a whole. It’s important to recognise that different people have different strengths and weaknesses and to ensure that their role plays into these. This is a fundamental of recognising business development in your business.

Following on from your recruitment process is how to train up new members of staff with sales tactics and continue training for existing members as well. Building a strong support network for employees will not only help them understand their role and how to do it well, but also help them to develop in their career. This, in turn, aids staff retention as they are less likely to leave if they feel supported in their role with a good amount of opportunity to progress. Take inspiration from other businesses that are leading the way when it comes to business development.

It may be worth considering a remuneration or incentives package for employees who successfully bring in new business. Whether this is monetised or an advanced benefits package, rewarding people for a job well done can go a long way.

It’s important to make sure that everyone is up to date with company goals and business plans, and that monthly and yearly targets are clear and tracked within each team. This helps people to understand how their work is helping towards those goals, and incites them to continue. Anyone within a senior or leadership position should always lead by example and help others understand best practice when it comes to business development within each role.

Business Development Targets

Business Development at Datam

 

We have built our business on foundations of agility and innovation, but this isn’t something that the leadership team have done on their own. We make sure that we recruit people with all different kinds of backgrounds who can give us new insight into how to develop and grow our business, and believe that there is no such thing as a stupid idea.

We are an ever-evolving business, listening to our customers and striving to create whatever it is that the market needs. This has helped us get to where we are today, consistently building new solutions for merchant payment issues.

If you’d like to find out more about the culture at Datam, or how we could help you with your merchant onboarding concerns, please get in touch with us today.