Getting started with business development
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GETTING STARTED WITH BUSINESS DEVELOPMENT
Presented By Alex Kehayias, Co-Founder of BeanSprout.co
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Agenda
① How can business development help me?② What is biz dev?③ Overview of partnership types④ Creating a partnership plan⑤ Tips on managing relationships⑥ Tips on starting a partnership program
from scratch⑦ Tools for making it easier⑧ Questions
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How Can It Help Me
• Enter new markets• Expand product and service offerings• Increase marketing reach• Improve offerings• Go international
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What is Business Development?
Lots of things to lots of people
Building partnerships to grow your business.
Isn’t BD just selling?What about APIs?
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Build, Buy, or Partner
• Build– Do you have the right team?– Time to market
• Buy– Do you have the capital?– Is it exactly what you need? ?
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Partner
• Leverage expertise• Localization• Marketing/sales support• Fast to market• New markets
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Types of Partnerships
• Channel, reseller, VAR• Co-marketing• Joint Ventures• OEM• Technology integration• Distribution
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Creating a Partnership Plan
① Define the situation– What does your market look like?– Who are you trying to reach?
② Define your goals– Entering new markets?– Making more money per customer?– Improving your technology?
③ Figure out your metrics– Revenue?– Customer satisfaction?– Average order value?
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Creating a Partnership Plan cont’d
④ Map out the ecosystem– Don’t think industry, think ecosystem!– Who are the complementary companies to
you?
⑤ Action plan– Make a list of companies– Define materials you need to make or build– Who is already in your network?– The all mighty follow-up
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What does an ecosystem look like?
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Building a Partnership Program
• Align your benefits to their benefits• Make it as easy as possible (APIs,
affiliate links, self-serve ordering)• Make billing or rev sharing easy as
possible• Have marketing material ready• Be careful about custom
development!
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Tips for Managing Partnerships
• Treat them like your friend not your parents
• Provide ongoing support• Be transparent• Keep them engaged• Look for ways to grow your
relationship
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Tools to get you Going
Business development platform that matches companies for partnership. Free tools, blog. http://www.beansprout.co
Try InMail and hunt through linkedin for the right decision maker
Networking – go to conferences and networking events and work your connections
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Questions?
Keep in touch!Twitter: @alexkehayias, @bnsprtEmail: [email protected] –
http://www.beansprout.co