Over the last 3 years, my title has always included “Business Development” (promoted from Director to Vice President.) The actual responsibilities have fluctuated significantly between direct sales and a more “classical” business development. While I enjoy the more “classic” business development more, I don’t mind selling and actually enjoy it when I get in a groove. I often comment, what the business needs to develop is more sales
Contrasting the two responsibilities (sales & “classical” business development) Upon reflecting on the last three years, two things that have struck me:
- How much easier it is to provide insights into sales progress.
- How the evolution of technology is really changing the landscape for business development activities.
I just read a couple outstanding business thought leaders & bloggers take on the second issue. Caterina Fake & Fred Wilson have posts that started as an email exchange between them. They do a great job summarizing the changing landscape.
I find it interesting that the changes in landscape seem to only accentuate the first issue. While it was hard in a BD 1.0 role, its even harder now to provide insight into your progress for the rest of the management team. Interestingly, this is especially challenging, because these are by definition externally facing responsibilities. However, like all roles in a company they do require strong collaboration with the rest of your organization. I definitely couldn’t deliver on anything without rockstar developers (people like Evan DiBiase & the rest of the development team at mSpoke.)
To clarify, when I’m focusing my attention on selling - there are fairly developed processes & reports that can be used to provide management & the board insight into the team’s sales progress. The best example of this is a sales pipeline that can be generated out of your CRM system (we use salesforce.com). In addition, you can come up with more creative reports - for example, I just recently read Josh Kopleman’s waterfall report - which I plan to start using. I think there are a few reasons it is easier to do this:
- The process tends to be more replicable. Therefore, multiple opportunities are easy to compare against others.
- From my experience, the CRM systems tend to be geared to sales. I’m not aware of any for business development / channel sales - If you are, please add it to the comments.
- The terms of the deal and resulting economics are easier (not easy but easier) to predict.
- It is easy to predict the amount of work necessary for your development and/or professional services team to deliver on the contract.
I’ve read a few books on partnering including Jonathan Tisch’s The Power of We and Tamm & Luyet’s Why We Partner. These type books tend to stay very focused on intangibles - like the importance of partnering, etc … When they do touch on working & reporting within your organization, it tends to focused on making sure it is a win win or as Catarina says:
“scouring the thesaurus looking for synonyms for ’synergy’”
However, they don’t focus on how you actually frame what / how to actually update your team. I spent some time on the pragmatic marketer’s site last night and I’m curious if some of those product management tools may also translate well as reporting tools for business development activities. Especially, as the we move towards more bizdev that Caterina & Fred are discussing.