Virtual Business Development

"Business development" is a term that means different things to different people. In professional services -- attorneys, management consulting, accounting, etc. -- it's an all-encompassing term for marketing and sales. But in the tech industry, where my background is, it usually refers more to strategic alliances, joint ventures, channel sales, and perhaps mergers and acquisitions -- in other words, the relationships you develop with other companies to help each other grow your business.

Often these partners aren't located in our geographical area, and the only chance we may have to meet them face-to-face in the normal course of business is at industry trade shows. Online networking sites, though, offer unprecedented ways for entrepreneurs to identify and connect with potential partners through Virtual Business Development.

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