Driven by and aligned to the organization’s goals, business development activities cut across functions of different departments of the organization such as sales, marketing, project management, and product management with the aim of utilizing partnerships and linkages in order to generate sales.
This activity is conducted by a company and organization to enhance business in terms of increasing revenue and profitability, business expansion, coming up with strategic business decisions, and a lot more.
- How to Write a Business Development Status Report Part 1
- Business Development Status Report Download Part 2
- How to Make Status Reporting 10x Easier Part 3
- Additional Sources Part 4
As much as these activities aim to enhance the business, policy and operational decisions should be able to steer business development activities towards the achievement of organizational goals. Therefore, these decisions should follow by sufficient and accurate information on the status of activities geared towards business development.
Business development status reports should be able to provide better oversight that will drive more business opportunities.
Progress Towards Achievement of Revenue Target
Just like any report, a recipient has the interest to know if the business is achieving what they want. The visual presentation is the best way to present these data and make them easier to understand. Transparency is important in reporting actual achievements versus the target since major adjustments might have to be made and these decisions will require approval from the top management and other stakeholders.
A Number of Business Development Prospects in the Pipeline
It is also important to update on the opportunities lined up, or those in the pipeline. In the language of business development, pipeline refers to the flow of prospects or potential clients that the company has been working on.
Are these opportunities good enough to open doors for the business?
A pipeline is healthy when there is a high percentage of winning those opportunities in favor of the company. What should be reported under this section are the reasons for winning or losing the prospect or the opportunity, progress of opportunities as compared with the sales cycle, productive sales people and sales channel, and sales, itself.
The Status of Individual Ventures
After checking how the pipeline is thriving with development opportunities, reports must also update on the progress of individual’s work. It is important to zero in on these matters since the company has already invested resources for these activities and must deliver results in return. Updates must state whether the company is winning or losing in each venture and may include a brief discussion on what made it possible.
It is critical to note that while progress for each venture is a good way to measure success, keep in mind that the value of each opportunity enjoys an equal importance with that of the number of opportunities. Monetary values are misleading, just as well as having many opportunities but with only a few big and more little.
Business Development Status Report: Free Download Section
Templates on ProsperForms:
How to Make Status Reporting 10x Easier
How to configure status reports on ProsperForms:
- Create a “Project Status Report” applet — customize our preset forms or easily create a new form in minutes.
- Setup reminders if you want your team members to receive automatic reminders when their reports are due.
- Configure who will submit reports by choosing the “Participants” tab.
Step 2: Users will click the “Open Submission Form” button to fill in and submit the report.
Data such as the report type, date and name will be added automatically.
As soon as a new status report is added, participants with “View” rights can view it in real time.
Step 3 (Optional): Generate a report and export it to PDF.
(Skip this step if you share status reports online and don’t print them.)
Click “Generate Report”.
- Make project reporting easier with auto-fill:
Fields such as date, name, report type, and formatting are inserted automatically by software.
- Consolidate reports automatically:
Reports created by your team members can be consolidated easily.
- Save time with auto-layout:
No need to spend hours in Word or Excel perfecting the report’s layout because it exports your updates into a beautifully crafted file with a couple of clicks.
- Peace of mind with auto-reminders:
No one forgets to fill in their status reports because ProsperForms automatically sends timely reminders according to the schedule you chose.
- Decrease time and effort spent on monthly, quarterly, and yearly reporting thanks to powerful filtering and export features.
- Quick sharing:
Status reports can be either
– exported to files and printed, or sent by email;
– shared with the manager online (in real time);
– optionally shared online as team-wide status reports, i.e., all team members share their progress with each other to spend less time on meetings.
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