Volco Power specialises in business development for our clients both in the Gas and Power sector.
Our services for business development are to create long-term value for our client’s organization from customers, markets, and relationships.
Long-Term Value: Entailing tasks and processes to develop and implement growth opportunities within and between organizations.
Sales: Our sales personnel focus on a particular market or a particular (set of) client(s), often for a targeted revenue number in a set timeline. With set goals, the sales department targets the customer base in the new market with their sales strategies.
Marketing: Our marketing involves promotion and advertising aimed towards the successful sale of products to the end-customers. Marketing plays a complementary role in achieving the sales targets. Business development initiatives may allocate an estimated marketing budget. Higher budgets allow aggressive marketing strategies like cold-calling, personal visits and road shows. Lower budgets tend to result in passive marketing strategies, such as limited print and media ads, and billboards.
Strategic Initiatives or Partnerships: To enter a new market, will it be worth going solo by clearing all required formalities, or will it be more pragmatic to strategically partner with local firms already operating in the region? Assisted by legal and finance teams, the business development team weighs all the pros and cons of the available options, and selects which one best serves the business.
Project Management/Business Planning: Does the business expansion require a new facility in the new market, or will all the products be manufactured in the base country and then imported into the targeted market? Will the latter option require an additional facility in the base country? Such decisions are finalized by the business development team based on their cost-, time- and related assessments. Then the project management/implementation team swings into action to work towards the desired goal.
Product Management: Regulatory standards and market requirements vary across countries. These requirements drive the work of product management, as decided by the business strategy. Cost consideration, legal approvals and regulatory adherence are all assessed as a part of a business development plan.
Vendor Management: Will the business need external vendors? For example, will shipping of LNG need a dedicated carrier service? Or will the firm partner with any established LNG Carrier companies? What are the costs associated with these engagements? The business development team works through these questions.
Negotiations, Networking and Lobbying: A few business initiatives may need expertise in soft skills. For example, lobbying is legal in some locales, and may become necessary for penetrating the market. Other soft-skills like networking and negotiating may be needed with different third-parties such as vendors, agencies, government authorities, and regulators.
Cost Savings: Business development is not just about increasing sales, products and market reach. Strategic decisions are also needed to improve the bottom line, which include cost-cutting measures. An internal assessment revealing high spending on travel, for instance, may lead to travel policy changes, such as hosting video conference calls instead of on-site meetings, or opting for less expensive transportation modes. Similar cost-saving initiatives can be implemented by outsourcing non-core work like billing and accounting, financials, IT operations and customer service. Strategic partnerships needed for these initiatives are a part of business development.