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Starting with a SMART objective based business plan helps a lot in identifying 'what you want' and go piece by piece achieving it.
This first step helps in prioritizing organization's needs and giving an opportunity to look into avenues for incremental market share, commercial capitalization, profitability and other elements of your mission and visions, through business development.
Risk assessment also plays an important role in creating value-based business development. One does not want short term gains against disasters in long run! It's not a sustainable business option.
Fulfilment of resources required for business development has to be discussed within Internal and External stakeholders and implemented efficiently for value based business development.
Should always have a feedback mechanism in place, throughout the activity. This provides insight to the direction one is heading and for correctional purposes.
