Business development is the
creation of long-term value for an
organisation from customers, markets, and relationships.
Business development can be taken to mean any activity by either a small or large organisation, non-profit or for-profit enterprise which serves the purpose of ‘developing‘ the business in some way.
There are many options available to business owners but regardless of the method finally chosen from resolving generational change the important thing is to maximise the value of your business. The effort gone into building a business can be lost if succession is not planned for properly. The issues can be complex and may involve many emotionally difficult decisions.
Few businesses ever achieve their full potential, for a variety of reasons. In most cases, they fail to focus on the things that are crucial because they lack the correct systems, reporting procedures and planning.