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The more I think about, and research, my functional area of Business Development the more I realize that there is very little research on the topic and few, if any, compelling frameworks around how to do Business Development well (keep in mind, I am talking BD as opposed to straight sales and, yes, they are different). It strikes me that this issue may be caused by Business Development’s cross-functional nature. Business Development professionals sit in the middle of the business and work with product, engineering, finance and other functional areas while also developing relationships with folks on the outside that will help the company achieve its objectives and increase revenue. As one recent job description put it:

The Business Development manager needs to be able to pull together teams to drive and influence new ideas or resolve issues, including product, engineering, finance, legal, customers service, desktop, advertising, design, etc.

Basically, BD folks need to be able to round up and work with just about every functional area in a given business. How’s that for a purview!

On top of all that BD professionals also need to develop relationships outside the business while also maintaining a strong understanding of the ecosystem their company plays in along with tangential ecosystems that might serve as growth opportunities for the firm.

That’s a lot of stuff to have on your plate and a good framework based on thoughtful research could really help.

In the coming years I plan to talk more about BD on this site. I also hope to find collaborators who are willing to work on research and framework development with me.

As companies look to increasingly focus on their core, BD will likely become a bigger part of the growth equation for firms since it allows firms to grow into new areas while maintaining focus. I am excited to be a part of the growth of the BD profession and I hope to add to the BD knowledge base as time passes.