Build and scale your business by thinking critically, being creative, giving and receiving.
Effective business development will convert your initial technology or product idea into a profitable company. It is a combination of corporate strategy, market intelligence, strategic partnerships, customer development and customer-oriented product development. If you are an innovative company or start-up looking for a business development consultant, you are in the right place. Our work focuses on your particular needs and challenges.
Business development for innovative and emerging companies requires navigating a lot of unknowns. Our approach is designed to resolve these unknowns and ground you in the marketplace. A significant part of business development for you is about building strategic partnerships, developing your customer base, establishing a successful product-market fit, and optimizing your business model and pricing structure.
Our services can help you optimize each of these:
Regardless of whether your are a B2B or B2C business, strategic partnerships can significantly accelerate your business success. They can create champions for your business when it is time to approach third-parties for funding, manufacturing infrastructure, and other resources. They can help you gain access to your customers’ suppliers and supply chain, and they can open the door of opportunity to future collaborative innovation projects. Sometimes your customers can be your best strategic partners. We work with you to develop strategic partnerships, create introductions and help you secure new business relationships.
Developing new customer relationships takes time and effort. There may be plenty of potential customers who could potentially benefit from your product. However, only a subset of the market will actively be trying to solve the problem your product addresses. It is this subset of the population that will be your ideal customer base. Reaching out to this group and getting them engaged with your product or business is a critical piece of customer development. We are happy to assist you with this process. We are also available to help you with customer discovery and customer-oriented product development so that your customer development efforts can be much more effective.
A key part of business development is developing an effective product-market fit. The more you learn about your customers, their workflow, their motivations, and their actions, the better you will be able to develop a product that meets their needs. The more you learn about your market and industry, the better you will be able to develop and maintain a successful product-market fit over time. Many companies have initial success in getting buy-in on a product, but then struggle to develop product features over time that increase value to their customers. Prioritizing product development based on customer insights and industry intelligence will help you reduce costs, increase marketshare, and create an increasingly valuable product over time. Our consulting services are designed to help you with this process.
Business Model & Pricing Structure
Your business model is your go-to strategy for success in your marketplace. It may be simple or complex. It may involve paying and non-paying customers, users, sponsors, advertisers, features, and product offerings. Pricing is a key element of your business model. A successful pricing structure is highly tied to the value of your product to your customers. Some of your product features may be highly valuable in getting your customers on board, but may not be revenue generating. Other features may generate revenue but may be difficult to get in front of your ideal customers without understanding when, how, and to what extent your customers appreciate that value. We help you align your business model and pricing structure with your customers, users, and market so that you can maximize the value of your product to your customers.
Contact us if you need a business development consultant to help you with your start-up, innovative or emerging business.