Synergy in the context of business development is the synergy between the internal teams you work with and the synergy with the external partnerships you create.

Internally, as a business development professional, you’ll need to convince decision makers that your initiative has a high probability of success. Once initiatives are approved, having alignment with your sales and marketing teams is a key fundamental to business development success.

Externally, partnerships can give a company to access new markets, customers, and technologies while reducing risk and costs. As a business development professional, you will need to forge strategic partnerships to expand your organization’s reach, improve its competitive position, and achieve sustainable growth.