The Peloton and Business Development!
"What is it?"
"What?"
"Business Development?"
"Well it's a shroud wrapped in inertia and those who are really good at it make a lot of money."
"How do I get good at it?"
"Be good at creating shareholder value, that's what I read in Forbes."
Ever see the peloton of bikers go through your town? It's the time of the year where this happens frequently where I live. I am not talking about the Tour de France wanna-be folks, just local riding clubs who enjoy a good ride and some fine weather.
I often see them talking while in formation and wonder if they are having a conversation like the one above as they peddle through my neighborhood.
On the other hand if this were a real conversation it would be impossible to maintain if you were on any kind of meaningful ride. The talking required to explain what business development is, and breathing while you rode, would quickly overcome you and you would become your own flat tire.
So I will take a shot at what business development is not.
*Business development is not marketing but it includes marketing.
*Business development is not sales but it includes sales.
*Business development is not relationship management but it includes relationship management.
*Business development is not client support but it includes client support.
*Business development is not operations but it includes operations.
*Business development is not product development but it includes product development.
*Business development is not technology but it includes technology.
Ok, I think you get the point.
Therefore.
If you believe the reason to have a business is to create a customer by proxy the following holds true: Business development is the combined attributes of all functional areas of your company that help to delight your clients.
Here's how it's related to the peloton. All functional areas of your company go through cycles.
Your company as a whole, the markets you serve and the broad cycle of business all recycle simultaneously. Lots of spinning wheels. Like the peloton: where leading, passing responsibility, drafting for rest, and progressing all happen at the same time.
In business, as you cycle through, different functional leaders appear. They do their work then draft behind another functional leader and on and on for as long as you are in a growing company. When the cycle breaks, business declines and either new functional leaders grab the handle bars to steer, peddle to keep moving, or the ride stops and you fail.
The question often becomes where does the CEO come into play?
In my thinking I don't believe he is on a bike. He may not even have ever ridden one, it's just not a requirement. He is more likely watching, leading and creating a culture of passing responsibility through the peloton and forming a vision of the road and ride ahead to a customer’s doorstep.
In the end it all adds up to delighting customers, which creates shareholder value.
Looks like Forbes was right.
My best, Chris
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