Are you trying to decide between business development (bd) and sales for your business? Do you know what the difference is between the two?
Both business development and sales kind of mean the same thing; but over the years many sales people have switched from sales, over to business development – and this of course has generated mass confusion for business owners and entrepreneurs alike.
It’s important to understand the differences between the two and how they can help your company reach its goals.
At Paragon Sales Solutions, we specialise in helping businesses to increase their sales through an array of consultancy, training and outsourced sales solutions, and we have become experts in all things sales. In this article, we want to share with you some of the main differences between business development and sales so that you can understand which would be better suited for your business.
Business development and sales both have the same goal: to increase sales and bring in more revenue. However, the approach and strategies used to reach that goal are quite different.
Business development focuses on the long-term growth of the company, while sales focuses on the more immediate needs of the company.
Business development is more strategic in nature. It involves researching potential markets, identifying new opportunities, and creating plans and strategies to reach those opportunities. It also involves networking, forming relationships with potential customers, and creating partnerships and joint ventures. Business development is often focused on increasing the customer base, building customer loyalty, and expanding the company’s reach.
Sales, on the other hand, is more short-term in nature. It involves identifying potential customers, communicating with them, and closing the sale. Salespeople must be knowledgeable about the company’s products and services, and they must be able to effectively communicate with potential customers. Salespeople often use tactics like cold calling, appointment setting, and networking to reach out to potential customers.
At Paragon Sales Solutions, we understand the differences between business development and sales, and how both can be used to increase sales and bring in more revenue. We can help you develop a strategic plan to reach your goals, and create a sales process that will maximise your success.
Whether you need help with business development, sales, or both, our team can provide you with the resources and expertise you need to reach your goals. Contact us today to learn more.