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Business Development: Biz Dev on a Budget: The Reality for Small and Midsize Firms
It's no secret that firms and marketing departments aren't equal in regards to aggregating enterprise data, hiring data scientists, or utilizing other resources to try to unlock value, uncover trends and identify practice correlations to drive revenue. So if you're still stuck in "making a business case" for the tools needed to perform these analyses, it's not the end of the world just yet! There are plenty of ways to see the forest, even if that value is hidden in disparate silos and requires some manual synchronization. For ease of explanation (and perhaps at the risk of simplicity), I will refer to these areas as the "3 I's", where you can use industry, individual and internal data to begin to see patterns, start to test hypotheses around potential "if/then," "go/no-go" decisions, and potentially unlock other qualified opportunities on your horizon.
Perhaps more importantly, the effective use of these tactics can help to build business cases for the firm to invest in more automated solutions so that you and your team can spend less time in gathering and more time in analysis, action and further business development.
Let's take a look at each of these in kind.
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