Step 2: Business development goal and objective setting
Produced in partnership with Kim Tasso of RedStarKim Ltd
Step 2: Business development goal and objective setting

The following Practice Management guidance note Produced in partnership with Kim Tasso of RedStarKim Ltd provides comprehensive and up to date legal information covering:

  • Step 2: Business development goal and objective setting
  • How to produce a business development plan
  • Why is goal setting important for business development?
  • The differences between aims, goals and strategies
  • Firm-wide and team business development goals
  • Create milestones
  • Marketing and business development KPIs

How to produce a business development plan

You should follow this basic strategic process to produce a business development and marketing plan:

Step Activity Practice Note Precedents
1: Analysis Undertake analysis to understand where you are now Business development planning–undertaking internal and external analysis Internal business development analysis—short-form
Internal business development analysis—long-form
External business development market analysis—long-form
Business development skills assessment
2: Set goals Be clear on where you want to be Business development goal and objective setting Business development aims, goals and objectives
3: Formulate a strategy Think about how will you get to where you want to be Developing a business development and marketing strategy Business development and marketing strategy planning
4: Preparing business development activities Identify what campaigns or activities are needed Preparing business development and marketing campaigns and activities