During the last decade business growth across all sectors has been unprecedented. After the 2001 tech crash (the “Dot Bomb”), confidence resumed and appetite for leveraged debt fuelled tremendous growth in consumer spending, the housing market explosion and the companies that served them in consumer electronics, retail, finance and automotive industries to name but a few. As we endure recession following the “Debt Bomb”, it is clear these excesses were built on less than solid commercial foundations and Business Development was a “walk in the park”.
The challenge of Business Development is in building long term strategic relationships that survive difficult times bringing lasting sustained revenues. This requires an approach based on a deeper understanding of the market and customers needs as well as careful exploitation of complimentary business networks. As the hangover of the Naughties subsides, a new paradigm investing in targeted Intelligent business development including the IP dimension is needed!