Over the past few years, we have worked with hundreds of SME business owners and they all face 1 key challenge:
A Lack of Revenue
Do you also face this challenge?
Most business owners know the importance of sales and business development, and most do allocate resources for them. So why do they still struggle for growth?
We have discovered that one critical factor is, most business owners do not know the difference between sales and business development.
Sales is essentially your company acquiring 1 customer at a time.
Business Development on the other hand allows for multiple customer acquisition at the same time.
So have you and your company been doing Sales or Business Development?
If you are doing Business Development, how much resources are dedicated to it and is it effective?
Before we answer these questions, let’s have a look at what exactly is Business Development?
SO HAVE YOU AND YOUR COMPANY BEEN DOING SALES OR BUSINESS DEVELOPMENT?
If you are doing Business Development, how much resources are dedicated to it and is it effective?
Before we answer these questions, let’s have a look at what exactly is Business Development?
WHAT IS BUSINESS DEVELOPMENT?
Most people associate Business Development with lead generation and the closing of sales. That is not wrong but it’s rather reductive in its definition.
BUSINESS DEVELOPMENT IS ESSENTIALLY THE PURSUIT OF BUSINESS GROWTH THROUGH ACQUISITION.
It is about identifying and developing channels that will maximize the potential growth of your business.
It is about developing a focus on creating long-term sustained value for your organization which may manifest in the form of new markets, new products or new processes.
A proper business development will go through this process:
How can this industry be run better? What’s missing? What needs to be developed?
What segment of the market isn’t being catered to?
Whose issues and challenges within this market are not being solved?
How can I create better products or a better process?
How can I acquire new clients more profitably than competitors are?
In short, Business Development is the foundation of business success.
SO WHAT ARE THE COMMON FACTORS THAT PREVENT US FROM DOING BUSINESS DEVELOPMENT EFFECTIVELY?
Three factors:
Lack of time
Business owners have too much on their plates, be it product development, client servicing and the daily churn, all requires their attention and thus they have a lack of time to focus on business development.
Lack of expertise
Some business owners are strong product designers, tech developers but do not have the necessary ability in business development, hence expertise is limited.
Lack of resources
Do not have enough resources to hire a business developer or access to networks to boost their businesses.
Solution?
The solution that comes to a business owner’s mind is often to hire a business development staff.
However, this solution in itself presents several drawbacks:
THERE ARE NO GUARANTEES.
A typical business development staff’s salary ranges from $3000 to $8000 (excluding CPF). However, there is no way to ascertain how effective he/she will be, and if the deals he/she brings in (if any) will justify his/her cost. A year of such an arrangement would set you back by at least $50K.
WHAT IF WE TOLD YOU THAT YOU CAN NOW GET BUSINESS DEVELOPMENT FOR YOUR BUSINESS AT ZERO COST AND ZERO RISK?
The Solution:
Maven’s BDASS –
Business Development As A Service
We help businesses do their Business Development at zero risk and zero cost.
Here at Maven, we provide our clients with business development as a service through our matching methodology coupled with our regularly updated extensive database of companies.
OUR MATCHING ALGORITHM ALLOWS US TO IDENTIFY ATTRIBUTES OF YOUR COMPANY AND PAIR IT SUCCESSFULLY WITH ANOTHER COMPANY WITH COMPLEMENTARY ATTRIBUTES.
This algorithm allows us to meet the individual needs of every company.
This allows for us to effectively and efficiently do a successful business matching for you.
TO DATE, WE HAVE SUCCESSFULLY MATCHED MORE THAN 50 COMPANIES AND CREATED MORE THAN $5 MILLION AMOUNT IN VALUE.
HERE ARE WHAT SOME OF OUR CLIENTS ARE SAYING:
Brief: Expand into China
Following the removal of the one-child policy, Dreamkids have identified China as a strategic and scalable market to enter. Dreamkids has tasked us to match them with partners that can jointly develop their preschool business in China.
Outcome:
Matched Dreamkids with 冠城集团, one of the largest education provider brand in Cheng Du for a Joint Venture in setting up Preschools in China. The first preschool center jointly developed by both companies will be ready in April 2018. This joint venture deal size along with its future development is valued at above $1 million.
“This is probably the best expense I have spent on my business. The Maven Co understood our needs and they were efficient and effective in finding us a good match that has now given a huge acceleration for my company’s business growth.” – Mr Kong Yew Kiin, Director, Dreamkids
Brief: Develop Distribution Networks
Bow For Bold’s main objective is to establish strong distribution networks across Asia for Quiver and its upcoming products.
Outcome:
Matched Bow For Bold with multiple distributors in Singapore, Hong Kong and Japan, accelerating their sales and growth, resulting in a revenue growth of close to $100,000.
“Maven’s Business Development As A Service has taken the load of business development off us as well as the costly risk of hiring an ineffective business developer. Knowing that our business development is in good hands, the time freed up is used to do what we do best – designing products to change the world.” – CK, Founder, Bow For Bold
Want to grow your business without any risks?
Be a BDasS – contact us today.
To further lower the risks for our clients, we guarantee leads and at times guarantee deals. However, do note that for us to successfully achieve our results, we have a very stringent approach in selecting our clients.
For a non obligatory consultation, contact us now!