What is The Future of Business Development?

radar as BDRadar

I have spent much time over the last few months digging deep into the business processes that support business development management. I was surprised to learn just how prime this space is for innovation as so many of the “accepted practices” utilized by people focused on business development for their organizations are arcane, inefficient, and lacking the advantage of effective supporting technology. There seems to be limited discussion and effort focused on “next practices” in this area, which is itself a tremendous opportunity. Glaringly, one commonality I have observed is the struggle by the business development community to force CRM tools to work in support of their efforts. Universally, I have heard of much pain around this effort. Another commonality is a belief in the power of social media and open networking, but limited knowledge or experience in how to do this effectively.

This all compels me to  propose the development of “business development radar” (BDRadar) as a tool that truly supports business development management (or BDM), and that integrates a priority set of functionality in support of open networking/marketing/business development goals. A tool that is accessible via the web, and is perfectly designed for easy use on mobile devices, that is cost effective for the soloist, independent, or smaller organization that realize the value of collaborative networking,  and that seeks an alternative to the limitations of a closed enterprise tool. Essentially, a tool that can surface business intelligence, visual network maps, and patterns whenever and wherever we need it, and that is seamlessly integrated into the networking and business development workflow. From one unified interface, a tool that provides:

- Open, collaborative network mapping
- Custom profile building with selective sharing
- Intuitive filtering and sorting
- Concise management of next actions with automated minding
- Unified contact management integrated with tools already in use
- Support of open networking/social CRM/CRM 2.0

No, LinkedIn does not do this.

The key differentiator from closed network CRM tools is that BDRadar would be designed at its core to support the open networker, and enables the creation of massive, mapped, searchable collaborative networks. It would support co-marketing and collaborative networking opportunities in support of business goals outside of the organizational firewall. I strongly believe that this is the future of business development, and to my knowledge the tool to support this does not yet exist. Driving the need for this BDRadar are critical key obsessions, and competitive necessities for business development professionals and marketers:

- Effectively determining context of opportunity
- Freshness of information
- Speed to intelligence

I have explored an endless array of tools to support and automate the addressing of these obsessions. What is required is an open tool that not only manages information, but that can recognize the patterns that identify opportunity, and supports the sometimes collaborative liberation of that opportunity into real business with individuals and teams outside of your organization. I’ve cobbled together a series of mostly freemium tools that I maintain. Tools that automate contact management, opportunity profiling, social media search, and network mapping. These work, but the inefficiency of moving between different interfaces, difficulty in easily sharing information, and the lack of integration compels us to create a better solution, to design something that REALLY works, and that we can easily share with others.

Stay tuned.

One Response to “What is The Future of Business Development?”

  1. Says:

    The money for me is the ability to “recognize the patterns that identify opportunity”. This is likely the intersection of two things: a person in your network with a need your business can fulfill. A person with a need defines an opportunity. The need may be due to an event, such as a contract won, a new hire, a new public direction, a new relationship, etc. If you can build a social CRM that identifies these moments supported by functionality necessary to take advantage of that opportunity from anywhere at anytime, then you have a winner.

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