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7 Components Of The Small Business Development Process

Regardless if your business is large or small, you need to adopt a Business development process if you want to have any type of sustainable growth. 

Owners of Small Businesses (Self-Employed and up), can be forgiven to think “this isn’t relevant to you”.  However, that self-defeating thought needs to be stopped immediately, because this article points out, it’s just as relevant for Smaller businesses. 

As a Small Business owner you need to adopt a business development process.  You will be more organised and more importantly, feel more organised too. 

Adopting this process gives you the structure and focus for a regular ‘rhythm and pace’ in your business development focus. It is crucial by stopping you getting lost in the myriad of small business development tasks. When these are not managed pro-actively, then as a result, you can quickly feel ‘lost at sea’, with no sight of land on the horizon.

We have been working with thousands of Small businesses since 2001. During this time, we have developed the following framework, as a result, we now use this with all our clients.

Components Of Business Development Process.

There are seven components to our Business Development Process. (See Picture Below)

  1. Purpose
  2. Strategy
  3. People
  4. Growth
  5. Operations
  6. Financing
  7. Stakeholders (In Centre)
Libabun Business Development Components

You can see in each of the components there are sub-heading that indicate more specific areas of focus for that particular component.

Each of these seven components is described in separate blogs on our website. What we can say now is that there are two components that we particularly want to highlight here.

Your Business Purpose

Your business purpose is the cornerstone of your whole Business Development process. The more clarity you have of your business purpose, then the easier it is to get all the other components crystal clear and aligned to your overall purpose.

The Stakeholders Component in the center of the diagram is literally a central point of focus for business development processes. As a result, everything you focus on and plan in your process will affect one or more stakeholders.

Framework For Business Development

Businesses that get the best results from using a business development process do so through implementing a Business Planning system. We educate and train all our clients to implement a Business Planning system that includes the following;

  1. 1-3 year Planning Conference
  2. 90-Day (Quarterly) Plan Workshop
  3. Monthly Plan and Meeting
  4. Weekly Planning and Meeting
  5. Daily Plans and Meetings

At LibAbun we are Certified Expert Advisors and Partners with Liveplan Business Plans. This online business planning tool integrates with Xero accounting software to offer fantastic automation and integration synergies for any business.

We run regular workshops and training days to help customers get the best from using this brilliant planning tool.

All our Coaching and Training is conducted online via Zoom Meetings and Trainings.

If you’d like to discover how you could get better clarity, focus and results in your business, contact us direct. You can do this by starting the process with a complimentary Business Growth Audit. This is simply a review of what you are doing now, versus what you could be doing. Consequently, we will also look at the current resources and reporting you have in your business versus what else you should have.

Our primary focus is to ensure that working with us is going to be a Profitable strategy for you. Consequently, if we can’t show you that it will be profitable and we can guarantee it, we won’t even offer to work with you.

Register now for your Free Business Growth Audit.

Please refer to our main website  for more details.