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Business
Development
Strategy
Developing a powerful and motivating Business Development Strategy is a fundamental building block for all aviation and aerospace businesses
Clients that normally approach FlyFive for help with Business Development Strategy are usually either
aviation businesses that need assistance energising their growth aspirations, or
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​ non-aviation businesses that need advice and guidance to help them better understand and explore new aviation market opportunities
Whilst a Competitive Strategy will define the ingredients your business needs in order to build a competitive advantage and achieve success, a Business Development Strategy will provide the roadmap to follow to deliver that success. As such, one often immediately follows the other.
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Every business is different, but the basic building blocks are similar. Start with a thorough fact-based understanding of your market(s) and clearly substantiate how and why your value proposition makes your offer(s) different and better than those of your competitors. If you don't have an obvious competitive advantage, but believe growth is still achievable for other realistic reasons, your strategy should clearly identify why and how those reasons are valid.
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Your Business Development Strategy should serve as the guide for your sales & marketing effort, defining exactly what type of customer should be targeted and why your value proposition will be attractive to them. It should also help define a broader set of initiatives including what channels to market should be utilised and when.
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FlyFive believe that Business Development Strategies must include specific stage targets, built around a realistic and agreed budget. In our experience these strategies should normally look forward 2 to 3 years minimum, and they should be updated at least every 12 months. Duration can be shorter, but are they usually need mid to long-term view because they often include include elements such as stakeholder relationship development and brand building; initiatives that inevitably take time.
If you would like to discuss how FlyFive may be able to offer you assistance with your Business Development Strategy, please contact us for an exploratory discussion.
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