December 27

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Business Strategy: Balanced Business Introduction (IV of IV)

Overwhelmed? Out of balance? Does everyone and everything want a piece of you?

Last week we identified the 3 overarching areas that every Business Owner or Leader must be diligent about balancing:

3 legged modern-outdoor-tables by houzz.om
3 legged modern-outdoor-tables by houzz.om

First Leg: Your Personal Development
Second Leg: Your Business Development
Third Leg: Your Professional Development

Today we are going to focus on your BUSINESS Development…

I’d first like to clarify the difference between Business Development and Professional Development. Please keep in mind most of the time they are not used properly in communication – so now you can dazzle everyone with your brilliance 🙂

Professional Development (as discussed in last week’s blog) is all about YOU. It’s about the skills, knowledge, and capabilities you need to be developing to assure you can do your job in the best possible manner.

Business Development us all about the BUSINESS. Think of this as what the business needs to be the best it can possibly be.  I know we simplify things here – not sure how I can simplify this any further!

Pay Attention: These two are mutually independent of each other and yet sometimes the business and the professional need the same skill or capability to perform better.

Have you ever had this happen?

Have you ever had to learn a new system or a software program so you can do something more efficient or effectively? Alright, this would be examples of Professional Development.  Have you ever had a boss share (or been advised) that your business needs something like QuickBooks or Social Media to improve it’s performance? That would be examples of Business Development.

Now, what if the business needs something learned, developed, and mastered and you will be learning this particular “something new” to help the business evolve – is this Professional or Business Development? Ah-ha! It’s both 🙂 but what if the business needs something and it isn’t you that will be learning it? Then it’s only Business Development to you, personally.

Gee, I may have an even simpler way to help you to determine the difference for you, yourself. When it is a skill or capability that you can place on your own resume – it’s Professional Development. It’s always Business Development, with the question of “who will do it”, which then determines who is developing professionally 🙂 Hope that over-simplified it for you 🙂

Let’s address some typical ideas for Business Development:

  • technological advancements
  • customers service processes
  • marketing plan
  • creating a new “customer experience”
  • new product development or service offerings
  • new interview and selection process
  • weekly/monthly/annual productivity reviews
  • accounting practices
  • financial reviews and analysis
  • social media mix

Alright, I admit it… I used really generic names for these typical topics – but, I did it so you could think about how these business basics, which “develop” a business, apply to you and your business!

Action Item for building a balanced table for your business to thrive:

1. Make a list of things which could help the BUSINESS become the best that it can possibly be!

2. Build them into your 2012 project calendar.

3. Have conversations with your team members to determine who is the best person for each of the professional developments 🙂

You will be amazed as to how much you can accomplish in just one year!

Merry Christmas  and Happy New Year Everyone!

If you or your business needs rescuing on this particular topic
or any other Business Strategies we have been discussing,
please reach out to Maggie (262) 716.7750   FYI: I’m in the Central Time Zone

Blessings of Success to YOU ~
The Business Rescue Coach, Maggie Mongan
Brilliant Breakthroughs, Inc.


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