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The purpose of this Standard Operating Procedure (SOP) is to provide guidelines for the business development process. The goal of business development is to grow the business by identifying and pursuing new opportunities that align with the organization's goals and objectives.
This SOP applies to all employees involved in the business development process, including but not limited to, sales and marketing teams, executives and business development managers.
Business development manager is responsible for developing and implementing the business development plan, identifying new business opportunities, and evaluating potential partnerships and alliances.
Sales team is responsible for identifying potential customers, building and maintaining customer relationships, and closing deals.
Marketing team is responsible for developing marketing materials, creating campaigns to generate leads, and promoting the organization's products and services.
Identify industry trends and market opportunities
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Click to replace with a ScribeAnalyze competitors and their strategies
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Click to replace with a ScribeIdentify potential customers and their needs
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Click to replace with a ScribeIdentify potential partners or alliances
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Click to replace with a ScribeIdentify business development goals and objectives
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Click to replace with a ScribeDefine target markets and customer segments
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Click to replace with a ScribeDevelop strategies to achieve business development goals
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Click to replace with a ScribeIdentify resources needed to execute the plan
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Click to replace with a ScribeDefine metrics to measure success
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Click to replace with a ScribeIdentify potential business opportunities and evaluate their fit with the organization's goals and objectives
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Click to replace with a ScribeBuild and maintain relationships with potential customers and partners
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Click to replace with a ScribeDevelop and deliver proposals and presentations
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Click to replace with a ScribeNegotiate deals and contracts
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Click to replace with a ScribeClose deals
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Click to replace with a ScribeMeasure the success of business development efforts against defined metrics
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Click to replace with a ScribeAnalyze and evaluate the effectiveness of strategies and tactics
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Click to replace with a ScribeIdentify areas for improvement and make adjustments to the business development plan
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Click to replace with a ScribeBusiness development plan
Proposal and presentation templates
Templates for tracking leads, opportunities, and deals
Reports on business development activities and results
New employees involved in the business development process should receive training on this SOP and the organization's business development plan.
Periodic refresher training should be provided to all employees involved in the business development process.
All employees involved in the business development process must comply with this SOP and the organization's policies and procedures related to business development.