Hishem AzzouzHost Of Recruitment Mentors Podcast

The Benefits of 'Strategic Business Development'

Name: The Benefits of 'Strategic Business Development'
Uploaded: 2023-04-20T16:15:00+00:00
Duration: 55 s
Channel: Hishem Azzouz
Description: In this monologue, the speaker contrasts tactical business development—short‑term, market‑driven placements that rely on a surplus of candidates—with…

20 Apr 2023 · 1 min

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In this monologue, the speaker contrasts tactical business development—short‑term, market‑driven placements that rely on a surplus of candidates—with strategic business development, which focuses on cultivating long‑term relationships and partnerships that generate a reliable, ongoing stream of clients. He argues that while tactical BD is easy to execute in a loose labor market, it collapses when the market tightens. Strategic BD, however, works consistently because it is based on relationship building, though it may not suit every client. The speaker proposes a progression: start with tactical BD, then combine tactical and strategic efforts, and ultimately prioritize strategic BD to achieve steady, dependable growth for a small business.

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You don't need everybody to do strategic BD. You just need one person in a small business to do it. Twice a year you get a drop of a new client, more if you're effective at what you do. Now you compare that to what we have now. In an active market, anybody can do tactical business development. It's easy because there's a shortage of people. So if you ring in and say, got a great candidate, you can make a placement. But if the market tightens, then they don't need to do that. So that business development don't work anymore. Strategic business development works all the time, because what you're doing is building a relationship. You're building a relationship which we both recognize is actually a business partnership. Doesn't work with everybody because some people don't want that. Some clients just want the best deal they can get, and that's fine. I want clients that are going to value me and have a steady stream of work coming in that I can rely upon, and I want more and more and more of them. It's a completely different way of building a business. To begin with, you need tactical, then you need tactical and strategic. If you do it properly, you just have strategic in the end.