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Very sound advice by someone who's accomplished A LOT in this field. #6 strikes me as particularly important: > 6. Make sure you’re talking to the ultimate de
by fab1an 14y ago
Very sound advice by someone who's accomplished A LOT in this field.
#6 strikes me as particularly important:
> 6. Make sure you’re talking to the ultimate decision maker.
> It’s often not the person you’ll be directed to. It’s frequently the PM.
I'd also add that 'it's not necessarily the person with the fancy title.' You'll lose a lot of time by focussing on the wrong person(s), even if their title suggest that they're very important. We lost a deal in which we spent several weeks conferencing flirtatiously with BD and Corp Dev (both EVPs) only to have the proposal rejected by a 'regular' PM, who ultimately owned the product and wasn't very pleased to be brought into the process at a later stage.
Instead, we should have asked early on who is going to be involved in the decision process 'given we find a great strategic fit'. Getting a soft Yes, that'd be him/her/me on this also helps the general sales process.
- ian 14y agoI agree with that. I think from a titles point of view it's also worth noting that BD roles at start-ups is 99% about selling, whereas BD at big companies is often more about being a filter for things that a PM might want to 'buy', and shielding them from what they don't. That's part of the reason that the most badass start-up BD people don't come from big company biz dev teams.