What technology means for business development. Blog Feature

By: Jennifer Devitt on February 23rd, 2016

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What technology means for business development.

Business Management

Technology is having a profound effect on every industry. Technology will affect career choices and paths, industry growth, business growth and more.

Technology as we have discussed is having a major impact on the job market. It has been estimated that by 2020, 1.4 million jobs will be in computer-related fields.  So, if we were to consider 1.4 million jobs, that would mean that in order to succeed in most any field you would need some computer related skills. Outside of that, what businesses today need to understand is that to succeed and compete in 2020 they will need to embrace technology more than ever before.

Business Development

What exactly is "Business Development" and why is technology key in its advancement? Well, according to Wikipedia, Business Development can be defined as "comprises a number of tasks and processes generally aiming at developing and implementing growth opportunities within and between organizations. It is a subset of the fields of business, commerce, and organizational theory."

Now, many may assume that Business Development or "BD" for short, is a major part of sales and/or marketing. And, they would not be far off. But, where its key function lies is in developing business growth. Yes, sales will definitely spur business growth, and marketing helps spur sales numbers.  But technology becomes key for those of us in the Business Development role. We do not necessarily have to become programmers to succeed, but what we do need to do to succeed, not only in our role but to help our companies succeed is "think different" as the 1997 Apple ad suggests.

Today would mark Steve Jobs 61st birthday. To say the world would be a vastly different place if he did not "think different" would be an understatement. For some history behind the 1997 ad, you can go here. And, if you are looking for inspiration there is a collection of his best quotes in honor of his birthday on Business Insider today. Bottom line is that in order to spur business growth, technology was key to Apple's survival.

For a Business Development executive, I believe it is key to think different or outside of the box. You need to listen to the input of many. You need to hear your customers concerns, desires, goals and challenges. But that will not be enough. You also need to hear your staff's concerns, desires, goals, and challenges. In 2016 companies around the world are using technology to not only hear what their clients and employees are saying, but they are listening. Today more than ever, technology is helping Business Development experts answer the call.

Software

In today's every changing world, new devices are popping up left and right. Everything from light bulbs to pencils to garage door openers are being connected via the internet and the IoT (Internet of Things). Today, more than ever individuals are relying on smartphones, tablets, and computers to complete daily tasks whether they be for personal use or work related tasks. Customers today function in the "now" mode. They want everything yesterday, and at the touch of their fingers.

Today's Business Development professionals need to think differently and understand how custom software can not only give their customers the answers to their concerns, desires, goals and challenge but also do the same for their staff. In order to step up to new demands in an ever changing world businesses need to arm their employees with software to streamline their jobs, eliminate errors and respond quickly and efficiently to client demands. On the flip side, clients are busy with their own work and personal lives, they want to be able to complete their tasks and personal chores just as quickly and efficiently.

Each industry has its own set of demands and challenges. Creating custom software solutions to answer the customer and staff challenges is key in moving a business forward. It is imperative that Business Development personnel "think differently" and learn to embrace software and technology to further growth. As we have discussed here in the past, companies like Dominos, Warby Parker and Goldman Sachs are flourishing in the tech sector by embracing software solutions to grow their business.

How are you developing your business? Are you using technology and software as a key tool in spurring growth and responding to customer demand? In order to be successful in the future and attract top talent, we all need to be a technology company at its core to succeed. Have you considered how custom software solutions can help you answer the growing needs of your customers and staff?