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Business development is one of the most important aspects of any company. They are the thread that keeps the company together, working towards a single goal. However, it can be tough to tell the difference between business development vs sales teams.
Sales teams work with lead generation and the purchasing process. They help the company actually make money, creating the actual revenue it needs to function.
Keep reading below to learn more about the differences between business development and sales.
Business Development Is About Large-Scale Growth
Business development is exactly what it sounds like — it’s about developing a business. These kinds of teams work on helping the business grow in abstract and large-scale ways. They are the ones that find chances for companies to move into new markets, and they advise executive leadership about issues the company faces.
For example, a business development team may notice a chance to grow U.S. operations right now. They may see all the shortages and supply chains affecting the world, and see opportunity. So, they may start researching grants and property where companies can open facilities in the U.S.
Then, these teams may take that information to the company leaders. As a result, the company may start investing in U.S. facilities. They are the ones that help forge the future for any company.
Growing Businesses Must Address Internal Issues
As any business grows, it is bound to have issues inside of the office. Not all challenges come from competitors and markets. Sometimes, challenges come from the company’s own internal policies.
Many companies are learning that policies they hadn’t thought of before could affect their diversity goals. For example, hiring practices that focus on academic performance could have unintentionally excluded some groups. A business development team is partly responsible for finding these kinds of issues.
To fix them, they may reach out to experts while organizing diversity and inclusion workshops. These experts will help employees and leaders learn about how to be more inclusive. You can learn more about DEI workshops online.
Sales Teams Focus On Immediate Opportunities
The sales team focuses less on large-scale opportunities and instead focuses on immediate opportunities. They identify leads and strategize ways to attract clients. They mostly work with inbound leads more than they work with outbound ones.
Their work pays off immediately too with revenue generation, instead of large-scale growth. Their success can be measured with hard dollar signs, showing which representatives are more productive than others. The tools they use are also more designed to connect with specific people.
Sales representatives use the work from the business development team, bragging to potential clients about why their company is the best.
Business Development Vs Sales — What’s The Difference?
When thinking about business development vs sales, it can be hard to see how either team is different. However, they perform crucial roles that help keep a company running. Business development helps build the vision of the future for a company.
Meanwhile, sales teams perform the actual revenue-generation processes of a company. Figuring out which team is right for you takes research and introspection. To research each team and figure out which is right for you, keep reading the blogs on our website!