Business Development Roadmap

Scenario

You have decided to open a cupcake bakery and move your home-based business into a storefront. Recently, you met with SBA National, a non-profit, that focuses on helping entrepreneurs start their business with funding and guidance. The non-profit also hosts a business pitch competition to anyone who is a client. One of the requirements of the SBA business pitch competition is that each participant must do a Business Development Roadmap to document the process that you will use to create a business development strategy.

Instructions

Develop a Business Development Roadmap using the provided template. 

Include the following areas in your roadmap:

• Planning and Identifying Priorities
• Client prospecting
• Market research on your industry and area
• Networking strategy
• Marketing strategy
• For each area, list the key implications (opportunity or strength) to your business
• Make sure to use audience-specific language and professional tone throughout the document.
• Clear organization, APA formatting for the references list, and proper grammar and punctuation are required.

Criteria for grading:

Comprehensive description of the following areas in the roadmap: Planning and Identifying Priorities, Client prospecting, Market research on your industry and area, Networking strategy, Marketing strategy

For key area, comprehensive implications (opportunity or strength) to the business.

Comprehensive use of audience-specific language and professional tone throughout the document.

Comprehensive use of clear organization, APA formatting for the references list, and proper grammar and punctuation.

Answer

Business Development Roadmap

I. Planning and Identifying Priorities

• Develop a clear mission statement and set of goals for the business
• Conduct a SWOT analysis to identify strengths, weaknesses, opportunities, and threats
• Prioritize key areas for focus and allocate resources accordingly

Key Implications:

• A well-defined mission statement and set of goals will provide direction for decision making and ensure alignment among team members.
• A SWOT analysis will provide a comprehensive understanding of the internal and external factors that may impact the business, allowing for proactive rather than …Order a customized and more comprehensive answer here