Steven Rindner Talks About Business Development and Growth Strategy

The business strategy followed by a firm can be the key to the success or even failure of the venture. According to Steven Rindner, a robust business strategy and plan can propel a whole company to great heights of growth and profitability. Steven is a business and corporate development executive who specializes in the segment of business development and growth strategy across numerous domains, starting from healthcare and real estate to media and technology. His experience in the industry makes him a good candidate to provide detailed insight into the aspect of business development planning and strategies.

All companies make plans to expand their business, as well as boost their profit and sales percentage. This especially is true for small and medium scale companies who have a lot of scope to expand, grow and flourish. However, growing a business is not an easy task. As per Steven Rindner companies must make use of certain methods to implement a well-structured and effective growth strategy. Steven himself has led corporate development initiatives at Besins Healthcare International, which is a Belgium-based pharmaceutical company. He had successfully developed and launched the nutrition business of the company by developing valuable partnerships with media and marketing companies, numerous distribution channels, as well as efficiently executing distinguished online strategies. Prior to joining this company, he worked as a practice director for Perfect Sense Digital.

As mentioned by Steven Rindner there are multiple methods that people can use to boost their business and expand their prospects, their strategies must be formulated on the basis of their financial situation, the competition level in the industry, their business scope, as well as government regulations. Some of the most common growth strategies used by businesses today include market expansion, diversification, penetration, as well as asset acquisition.

While many confuse business development strategies with the marketing process, it is crucial to know that both these elements are not the same. Marketing basically involves the system of determining which services and products that one would offer to which target audiences and at what price range. It also addresses the concern of positioning a product and promoting it in the competitive marketplace. While the end result is imperative to increasing the awareness about the brand among the target audience, while ensuring a stronger flow of qualified leads and opportunities, the scope of business development is beyond this aspect.

Business development was historically considered to be a subset of marketing, which was superiorly focused on acquiring new marketing or distribution channels, as well as maintaining related relationships. As per Steven Rindner while this role still exists in several firms, the title of business development cannot be interchanged with marketing, as its scope as increased significantly.

Deciding which strategies to employ or which targets to pursue in order to develop and expand business prospects tends to be quite a high stake decision for any company. Only a well-defined and implemented strategy would be able to enhance the profitability of a company.