Business development, in common parlance, is the creation of long-term value for an organisation from customers, markets, and relationships. At a high-level, business development efforts work towards building relationships and partnerships where communication and a targeted approach play a crucial role.
Building trust in clients and partners requires time, expertise and strategies. While the traditional law firm approach to business development hinges on an attorney's individual experience and projection, the evolution of new-age business development practices has paved the way for succession planning beyond the personal sphere.
This article will discuss some key areas to focus on while building the business development strategy. One should not forget the relevance of traditional approaches while adopting modern and agile methodologies.
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