Business Development RoadmapPosition
A company is constantly positioning itself in the market place, and it must constantly assess whether their position makes sense. Determining position does not have activities directed toward a specific customer (owner) or opportunity. Rather, it demonstrates that the company has invested into the processes that define the company. Position includes:
- Market Analysis: A company must analyze the market to determine whether it is viable to be a player in the market. For example, a construction company that is growing may consider moving into another geographic region. A market analysis will show whether it makes sense to do so.
- Resource Analysis: Before becoming active in a market, a company should analyze their resources to either ensure that they have the financial, personnel, and other needed resources to be successful.
- Strategic Planning: Companies should develop a strategic plan that describes the actions to be taken that will lead to success. This should be done annually or anytime the company is considering a new direction or market. There are many components in an effective strategic plan, many of which are discussed in our Business Development Roadmap.
- Self-SWOT: The leadership team should brainstorm the organizations strengths, weaknesses, opportunities and threats on an ongoing basis, but especially when determining how to position the company and its services.
- Marketing and Branding: To position itself, the company must communicate messages to the marketplace – who you are, what you do, your history, your differentiators, and other information. This is the role of marketing and branding. Being effective in this area positions you publicly.
- Reputation Management: You will have a reputation in your marketplace, and this is part of how you are positioned. Your reputation can be either positive or negative. The new concept of reputation management includes the steps you will take to achieve a positive reputation to your potential customers.
- Social Media Presence and Strategy: Your website and other social media venues will be viewed by potential customers. In today’s world you must not only have an informative, content-rich website, but you must also be active on Facebook and LinkedIn. These actions help build your credibility and presence in the