Monday, August 20, 2012

Video 3 of 4: Difference of Business Development Responsibilities During the Early Stages of a Startup

I was recently invited by the team at Docstoc to participate in their "expert" video series, meant to help small business owners, entrepreneurs, and individuals. This is part 3 of 4.

Here I talk about the difference in biz dev responsibilities during the beta stage and growth stage of a startup:
  • In the early stages, it's the responsibly of the founders.  Sell the vision to prospective customers.  Refine the product as necessary.  Get the first few deals done yourself.  Figure out how to sell the product into what markets.  You’re the passionate visionary – you’re the heart and soul of the company.  You can’t possibly expect an outsider to be able to jump in and start selling.  And if you can’t sell it yourself, don’t bother hiring.

  • In the later stages, bring in folks into biz dev and tell them exactly what to do.  Here’s what works, here’s what doesn't, here’s what to say, here’s what not to say - all informed by the other deals you've already done.  The general sales process will be in place, the legal documents will be in place, the rollout plans in place, etc.

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