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14 Difference Between Business Development and Sales

14 Difference Between Business Development and Sales

Uploader: Patel Vidhu

Size: 5.58 MB

Duration: 4:04

Date: February 06, 2018

1. Business development refers to activities designed to expand your organization's reach into a new market.

2. Sales is responsible for selling a specific product or service, with a clear price and value, to an identifiable individual customer.

3. BUSINESS DEVELOPMENT:
The objective is not revenue generation, but finding the right product-market fit.

4. The role of sales is to sell a product directly to the end consumer, whereas, when it comes to business development, its role is to sell the product through a partner in a scalable way.

5. Being a sales professional means being a numbers guy and selling your soul to metrics and percentages.
Business development professionals rely on a curated network of personal relationships that usually buy a specific product category that they lean on for their entire career.

6. Nature:
SALES
Transactional
BUSINESS DEVELOPMENT
Relational

7. Function:
SALES
Selling product
BUSINESS DEVELOPMENT
Selling solutions

8. The focus of "bizdev" is on new and atypical, interactions with external partners - who are not customers or sales prospects. 

9. Sales staff in a company tends to grow rapidly with time. But business development teams are relatively smaller and prefer to maintain a small size.

10. Time horizon:
SALES:
Short term
BUSINESS DEVELOPMENT:
Long term

11. sales is a function where the end result is cash.  In business development, the end result is a new channel for sales to occur in.

12. Associated with:
SALES:
Execution of plan
BUSINESS DEVELOPMENT:
Devising, focusing and assessing of a plan

13. Business development is about convincing another company to partner with you or do something that they don't have to do but that is likely mutually beneficial.

14. Seek for
SALES:
Distribution of goods and services
BUSINESS DEVELOPMENT:
Business expansion

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