ELI5: Explain Like I'm 5

Business development

Hi there! So you know how when you go to the playground and you want to make new friends to play with? That's kind of what business development is like but for grown-ups and their businesses.

Basically, businesses want to make new friends too, but instead of friends they call them customers or clients. Business development is the work that companies do to find new customers or clients to buy their products or services.

They might do this by going to events and meetings where they can meet new people and share information about their business. They might also try to find people online who might be interested in what they are selling.

Once they meet potential customers or clients, they have to tell them all about their business and why they should choose their product or service over someone else's. They might also ask these potential customers or clients what they need and how their business can meet those needs.

Think of it like making new friends on the playground. You have to introduce yourself, find common interests, and show why you would be a good friend to play with. In business, it's similar, but instead of toys, it's products and services that they are trying to share with others.

So, in a nutshell, business development is all about finding new customers and convincing them to buy what a particular business is selling. Just like how you make new friends on the playground!
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