25 Tips for Business Development Specialist

Filed in Business Idea by on March 8, 2022 0 Comments

Business Development Specialist: The purpose of this article is to provide an overview of current practices in the provision of business development services (BDS).

Too small and microentrepreneurs Business Development Specialist in the world.

The document is meant to serve as a resource for Bank staff and other development practitioners who play a role in evaluating proposals and designing, implementing, and evaluating projects which target the microenterprise sector.

One-stop Shop for Small Business Owners.

BusinessHAB.com has set up a support center for entrepreneurs wishing to start a business or for recently established businesses.

Everything the entrepreneur could think of is offered at the center.

Which is set up like a shopping mall. Representatives from BusinessHAB providers, credit

1. Business Development Overview:

By business development services, we mean services such as training, technology transfer, marketing assistance, business advice, mentoring, and information.

Which are aimed at helping small and microentrepreneurs improve the performance of their businesses.

Business development services have traditionally been called non-financial services.

And are sometimes offered in conjunction with credit and other financial services.

Business Development Specialist

2. Technology Transfer

Technology Transfer refers specifically to helping entrepreneurs access and uses new inputs, equipment, or production processes.

Which can increase their efficiency, scale, and returns.

This service is often delivered to micro-entrepreneurs as part of an integrated series of interventions, using the sub- sectoral approach.

3. Counseling

Counseling ( or business advice, or mentoring ) is usually delivered through one-on-one interaction.

It includes a range of services, such as assistance in developing business plans, loan applications, legal advice, assistance with licensing and registration procedures, audits, feasibility studies, and insurance advice.

Business Development Specialist

4. Subcontracting and Franchising :

The former refers to an arrangement whereby larger enterprises contract out a portion of their work to small and microentrepreneurs; the latter refers to an agreement between a supplier of a standardized product or service and small businesses who agree to act as distributors or deliverers of the good or service. In a subcontracting arrangement, the small businessperson has a guaranteed customer who will buy the output he is producing; in a franchising agreement, this is not necessarily true.

Business Development Specialist

5. DELIVERY MECHANISMS

DELIVERY MECHANISMS The term Delivery Mechanism, in this context, refers to the way in which business development services are transmitted to microentrepreneurs. For example, information about markets can be transmitted through an information referral center, an individual counseling session, or through networks.

6. Networks

Networks are associations of entrepreneurs which provide a source of mutual support, as well as the potential to form cooperative linkages and perform advocacy functions. Networks are often formed at the community level; in other cases, entrepreneurs are brought together by NGOs or donor institutions.

7. Marketing

Marketing means business activities related to the design, pricing, sale, and distribution of products, advertising or promotional activities, and acquiring access to raw materials, inputs, and equipment. Acquiring access to foreign markets and/or suppliers (exporting or importing) is considered a marketing activity.

8. Production

Production can mean the actual production of agricultural, manufactured, or artisan goods, as well as the rendering of services that involve production, such as a bicycle or automobile repair, food preparation, tailoring, shoemaking, etc. Management refers to tasks that include financial planning and record-keeping, hiring, training, and firing employees, and long and short- term business planning. Regulatory Compliance refers to paying taxes, obtaining licenses and permits to operate, or adjusting business practices in order to comply with local safety, health, or environmental standards.

9. Subcontracting and Franchising :

The former refers to an arrangement whereby larger enterprises contract out a portion of their work to small and microentrepreneurs; the latter refers to an agreement between a supplier of a standardized product or service and small businesses who agree to act as distributors or deliverers of the good or service. In a subcontracting arrangement, the small businessperson has a guaranteed customer who will buy the output he is producing; in a franchising agreement, this is not necessarily true.

10. Business Consultancies

Consultancies refer to technical assistance given by a consultant or team of consultants with business experience. They conduct on-site diagnostic analyses and recommend solutions to increase the entrepreneur = s returns. Consultancies are often related to the accomplishment of a specific task or the making of a specific decision, as opposed to counseling which is of a more general nature.

11. Business Incubator

Business Incubator refers to a system where newly established firms share a building site, with individual offices and/or workshops for the entrepreneur, as well as common space for shared services such as secretarial support, meeting rooms, and access to hardware or machinery. At the core of the business, incubator system is the availability of mentoring services and technical, financial, design, and managerial training support.

12. Get the Referral Centers

Referral Centers direct entrepreneurs to credit or technical assistance providers, communicate prices, design trends, production standards, appropriate technology information, or assist entrepreneurs in joining or forming a network or cooperative. A common practice for making market information available is the use of an electronic information system. A One-stop-shop refers to an information center where most of the services to which the entrepreneur is referred are available on-site. For example, the INSOTEC Centers in Ecuador offer, on-site: credit, training, technical assistance, equipment rental and sales, and supply of raw materials.

13. Training

TRAINING Entrepreneurship Development refers to training that targets potential entrepreneurs, encouraging them to start up a business by developing the personal, organizational, and administrative skills needed. Entrepreneurship development courses also transfer specific production-related skills. A subset of entrepreneurship development training is worker retraining, directed at former employees of privatized or downsized companies, that encourages some workers to start their own enterprise.

14. Credit Orientation

Credit Orientation refers to training, often mandatory, that accompanies the granting of loans to small and microentrepreneurs. Borrowers are told how to apply for a loan, how to manage credit, and what expectations are for repayment.

Business Development Specialist

15. Management Orientation

Management Oriented Training refers to the transfer of financial and administrative skills and can include marketing techniques as well.

16. Production Orientation

Production Oriented Training focuses on technical skills which are needed to produce goods and services.

17. Community Business Development Training

Community Business Development Training focuses on transferring skills that are beneficial to the functioning of the community as a whole, rather than just to the entrepreneur in running his/her business. Examples include leadership training or efforts to encourage the creation of associations.

18. Entrepreneurship Development

Entrepreneurship Development refers to training that targets potential entrepreneurs, encouraging them to start up a business by developing the personal, organizational, and administrative skills needed. Entrepreneurship development courses also transfer specific production-related skills. A subset of entrepreneurship development training is worker retraining, directed at former employees of privatized or downsized companies, that encourages some workers to start their own enterprise.

19. Credit Orientation

Credit Orientation refers to training, often mandatory, that accompanies the granting of loans to small and microentrepreneurs. Borrowers are told how to apply for a loan, how to manage credit, and what expectations are for repayment.

Business Development Specialist

20. Management Oriented Training

Management Oriented Training refers to the transfer of financial and administrative skills and can include marketing techniques as well.

21. Alliance of Home-based

Save the Children organized a network of home-based workers recycling fabric remnants into industrial rags and other products, called Partners for Subsector Development. The ILO- Danida supported the program, which provides business services to its member microentrepreneurs, particularly bulk- buying raw materials and negotiating for orders from companies.

22. TECHNOLOGY TRANSFER

Appropriate Technology International (ATI), a US non-profit, has introduced Bolivian alpaca farmers to new methods of wool processing, which has led to higher returns on their products. A subsector analysis was performed in order to develop a series of integrated interventions which address each step of the production process.

23. Create Women Network for Entrepreneurial Training (WNET )

Women = s Network for Entrepreneurial Training (WNET ) , was created to link successful women business owners with women entrepreneurs ready for business expansion. Through an ongoing mentoring relationship, WNET offers protegees the expertise of established women business owners who have volunteered to share their skills, ideas, and inspiration.

24. Individual Counseling for Further Specialization .

Institute for Social and Economic Development (ISED), Iowa, offers individual counseling as one of four different training options, offered to clients who have already started up their business. ISED began as a credit institution and now specializes exclusively in training/business development services. The institution refers clients to credit sources, and in some cases collaborates with banks by partially guaranteeing loans to ISED clients.

25. Export Audits and Risk Assessments .

The Center for the Promotion of Imports from Developing Countries (CBI), an Agency of the Netherlands Government, supports consultancies by businessmen with expertise in specific industries to small businesses in developing countries. One subset of services offered, (the export audits, company audits, risk assessments ) is intended to assist management in making strategic decisions.

Conclusion

BusinessHAB offers fee-based business services with an emphasis on marketing and improved production, information regarding credit, and an electronic Market Access Network. Examples of specific services include product testing, establishing new distributor networks, analyzing a product = s cost competitiveness, and identifying alternative, lower-cost inputs.

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