Project Management: Opportunity Lost And Cost?

Success in Business Development Depends on 3 Ps.

In working with a wide variety of organizations across different markets, we have found that the Business Development challenges that organizations experience generally relate to the 3 Ps (planning, process and personnel). It might surprise you how many organizations inhibit revenue growth by not focusing on these 3 critical areas. Plans provide the vision and strategy to get where you need to go. Process ensures repeatability and consistency in how clients are engaged, opportunities are identified, qualified and captured and how compliant proposals are written. People are the “doers.” Without them you have nothing.

Each of the 3 Ps is equally critical to an organization’s long-term Business Development success. Without good plans, a proactive Opportunity Identification and Qualification (OI&Q)i Phase and Client Engagement Process, even the best Business Development personnel will struggle in their role. Personality-driven Business Development organizations are generally the result of weak or non-existent plans and process. Business Development superstars often emerge as the “white knights” within these organizations. However, with no repeatable or transferable methodology, the organization runs a great risk should they leave. The reverse is also true. Without good people, regardless of how good the plans and processes are, the organization will struggle.

Long-term success in Business Development depends on the 3 Ps: plans, people and process. Without all three, your revenue generation capability is most likely ineffective.