B2B Development

Otherwise known as business to business (B2B), as opposed to B2C or business to consumer, focuses on interaction and transactions between businesses. The objective is to develop business.

4 methods to grow or develop your business:

  1. Sell to more customers
  2. Sell more to your existing customers
  3. Increase sales by increasing the average size of orders by raising the value of what’s sold
  4. Purchase another business

4 key steps to build and cement that B2B process:

  1. Identify Partners who’ll fit at both a strategic and tactical level.
    • Strategic is longer term and will help you grow your own business by providing value to your product / service.
    • Tactical is typically more short term and addresses an immediate need.
  2. Document it & get it in writing, including steps such as conflict resolution and how, if the relationship needs to cease, it will be amicably achieved – this is much easier to set out when things are amicable (it’s almost akin to a prenuptial for businesses).
  3. Build, nurture and manage the relationship. As with all relationships, these take time, effort and work and importantly, have to work equally well for all involved.
  4. Generate leads and create referrals. Leads are the lifeline for any business and helping those with whom you have a relationship by referring good opportunities will pay dividends long term.