Seth Godin Thinks About Business Development
Seth Godin is one of my heroes, and as such I’d liketo share a recent post from his blog, Thinking about Bizdev
Business Development is what this site is all about, and I’d like you to look over this list and let me know what you would like to learn more about:
Thinking about Bizdev
Some ideas to get you started:
1. Who goes first? Most biz dev is supplicant driven. You need a license or traffic or cooperation and you are forced to figure out who to call and to make your pitch. The posture of the licensor is to work to avoid trouble (saying “no” is always safe) or to maximize the money on the table (which kills the best deals.) What happens if the licensor turns it around? What happens if they proactively seek out aggressive, smart, successful organizations to run with their brand or property?
2. Who lays out the deal? Most licensors are hesitant to offer a deal first, because if it’s accepted, they have to say yes. As a result, there’s a lot of fencing back and forth (sometimes this lasts for years… I’ve seen it many times). The most successful deals are the ones that are simple and quick. The goal isn’t to have the biggest piece of pie, it’s to have the biggest pie.
3. How easy is it? You’d be amazed how many people will do a deal because it’s easy. Because they feel respected. Because they trust the other person. When you get all lawyered up on both sides, little good can come of it. If I were a bizdev person, I’d try to close every deal, yes or no, within a week. Even acquisitions.
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