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A Summary of

Understanding business development

by
Seth Godin
Seth Godin
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Drivers for Business Development

  • Make a profit
  • Support / become part of the core mission
  • Support the brand

Tips for BD

  • Build a process for conducting BD / partnerships first
  • Determine decision rights for BD activity
  • Key stage is courtship. Treat others as you would like to be treated.
  • Think of BD as building partnerships not just buying and selling
  • Capture the energy in the room and capture it to show enthusiasm
  • Capture partners and organizations that are growing with momentum
  • Be wary of NDA and legal involvement too early in the process
  • Cast a wider net and get yourself out in the market with blogs and conferences
  • Make sure your company is enabled to support BD and direct queries to the right people
  • Structure deals with the expectation of success and keep a positive mindset
  • No matter how the deal ends make sure to follow up and stay involved
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