Terrence Munangi

Brilliant business development ideas have helped small businesses grow into big businesses that employ hundreds to thousands of people – Terrence Munangi.

Here are 10 of the world’s best professional development ideas:

Partnerships
Going into partnership came about when one party has what the other party does not have. For example, many people with great products (that consumers will jump at) often go into partnership with people who have the money to launch the product off the ground.
Franchising
This is one of the business development ideas that close to the top of the list! Franchising offers companies a chance to market and sell their brand and their business processes to other businesses in exchange for franchise charges and at times a share of the franchise proceeds. This professional development idea is pretty common with well known eateries, restaurants, residential maid services etc.
Using The Internet
Without a doubt, going online is truly a business development idea that every business in this modern day and age needs to implement or remain in obscurity. Every type of business can promote their business through a website, Terrence Munangi.
Exportation
Products that are in hot demand outside the shores of the country are exported abroad. This is another smart professional development plan that many businesses employ, because the high demand of the product will sustain the company’s financial, management and production needs.
Opening Another Location
This is a step that a lot of companies take in order to serve their growing customers especially if their present location cannot serve customers who do not reside within the locality. Companies also open another location in areas where growth opportunity has been clearly spotted.
Trade Shows
Attending trade shows is one business development idea that makes perfect sense because it offers business owners the opportunity to network and to even size up the competition as well. Many businesses have achieved their breakthrough in business by simply attending trade shows.
Corporate Social Responsibility
Contributing to the growth of the community is one way to attain business growth. People always feel a sense of loyalty to those that care about them. When they purchase products and services from a company that gives back to the community, they also feel that they are giving back to the community when they purchase goods and or services from that company as well.
Excellent Customer Service
This is perhaps one of the most effective business development strategies in the world. People will always do business with a company that offers them quality products and top notch customer service.
Giving Away Sample Products
Giving consumers a taste of your product is one way of getting them hooked and reeling them in. Terrence Munangi, Manufacturers of beauty products have used this professional development strategy for years and have enjoyed immense growth.
Customer Loyalty Program
This particular business development idea is one that many consumers appreciate and has helped many businesses retain their existing customers and capture new clients/customers.