Two Crucial Components of a Business Development Plan

A former president of the real estate company Mile High Capital Group, Jeffrey Dietz serves as a manager with Realmad Holdings & Investment, LLC. From his base in Manitowish Waters, Wisconsin, Jeffrey Dietz supports businesses and investors in the holding and investment offices sectors. Many of these companies require help creating business development plans that further their growth and revenue generation efforts.

A business development plan is a growth-based strategy that provides teams with a deeper understanding of key focus areas. While these plans contain several components, two are necessary.

The first is an elevator pitch that succinctly details what the business aims to achieve. This pitch helps employees understand the company’s goals. Further, it serves as a crucial marketing tool for grabbing the attention of prospects.

The second crucial component is a definition of all of the key performance indicators (KPIs) of the business. A KPI is any measurable value or metric that a company uses to evaluate the performance of its employees. KPIs vary depending on the type of business, though they often relate to sales volumes, revenue, and profit. A good KPI has the desired outcome that all parties understand. It must be realistic and achievable. Unrealistic KPIs often lead to employee disengagement.