When it comes to a business, developing the business up and getting sales are two priorities of the business. When it comes to business development, it is the process of creating new ideas. This is done through market research and will essentially lead to more Sales. When it comes to sales, it is getting a deal completed. This can be done through either selling a product or a service and having a consumer purchase it.
Sales are transactions between a business and a consumer. Business development is an internal relationship with the business to help build it up and help it grow.
Some may find it confusing to know the difference between business development and sales. When you say business development, this means that you are trying to find a match between one product and a potential segment in the market that will like the product that you are trying to sell.
When you say sales, this refers to the process that you have to do so that you can potentially get the revenue that you want from the product that you are trying to sell.
There are instances when you really need to develop the product that you want and know how to promote the product so that it will sell well in the market.
Sales and business development are activities every business person wants to see in his organization. Sales are closing or securing a deal while business development is generating new ideas by researching and creating a pipeline of targeted potential, which will increase sales.
Sales are generating transactions, while business development is generating ideas. Business development comes first because when you generate new ideas by researching the needs of your customers and giving them a solution, you drive more sales to your business.
Sales are all about selling products or services to the final consumers, while business development is building new distribution channels, markets, or business areas. Sales are transactional in nature, while business development is relational. Business development is mainly a business expansion.