Big News: FounderDating is joining OneVest to build the largest community for entrepreneurs. Details here
Latest Notifications
You have no recent recommendations.
Name
Title
 
MiniBio
FOLLOW
Title
 Followers
FOLLOW TOPIC

Question goes here

1,300 Followers

  • Name
    Entrepreneur
  • Name
    Entrepreneur
  • Name
    Entrepreneur
  • Name
    Entrepreneur
  • Name
    Entrepreneur
  • Name
    Entrepreneur
  • Name
    Entrepreneur
  • Name
    Entrepreneur

As a tech person with a product, how do I find a business developer?

I'm a developer and a "tech" person. I already have product (managed service) that is profitable. How do I find a business developer to come on board to help find clients? It seems like every business developer already has an idea that they want to pursue and aren't interested in jumping on with a launched product.

17 Replies

Chris Nunes
3
0
Chris Nunes Entrepreneur • Advisor
Product & business management for solutions in Augmented Reality & Bitcoin
How do you BizDev the BizDev?
  1. Show the extent of the upside - your current average deal value and what it's worth to you to share in that. Why should they spend time on this opportunity instead of the (many) others? What differentiates your service from all the others in the same space?
  2. Show the backlog on your current pipeline.
  3. Identify those BizDev folks who have networks in your existing/ideal customer base.
  4. Who are the precursor vendors to your ideal customers, before your service gets involved? Go find a BizDev person who works in that horizontal and get them excited about the strategic partnership opportunity for those precursor vendors to supply customers to you. Most BizDev folks on founder sites have ideas they're looking to build. Find the BizDev folks NOT on founder sites but that are in your target horizontal.
  5. Reserve a portion of your earnings to outright hire someone so that it's not a contingency opportunity.
Ed Jeffers
2
0
Ed Jeffers Entrepreneur
MD at EDGE +
Dallas, Been there done that. If you want some one that is truly committed and going to execute with drive and passion, then show them the "end game". I really good or talented BD can sell anything that is a viable product or solution. In the old days it was the pursuit of commissions. That has changed and if you really want a partner not just a sales guys then give them an equity plan. A smart and experienced BD will understand and most likely insist
Terence Latimer
1
0
Terence Latimer Entrepreneur
Senior Account Executive at Dedicated Media
Hey Dallas, as a Biz Dev guy myself, I can only offer my own perspective.

Any hesitance I'd have in joining a team with an established product mostly centers around either lack of domain expertise or passion.

While I wouldn't necessarily need to "build" a product to be passionate about it, its a whole lot easier to be an expert of something I'm passionately building.
Anu Gardiner
0
0
Anu Gardiner Advisor
Global Head of Procurement at DocuSign | Business Leader
Depends on the product and the incentives. Happy to talk and brain storm with you. Regards,Anu Gardiner [removed to protect privacy]
Cristian Parolo (4.K + Direct)
0
0
OWNER - CEO presso CLM & CLF
Hi Dallas, What kind of product do You need to push on Market ? I see that You write about a managed service, but I wuold like understand better the product. I'm actually looking an interesting software or similar to push in European Market. Feel You free to get in contact with me. Thanks Inviato da iPhone
Scott McGregor
0
0
Scott McGregor Entrepreneur • Advisor
Advisor, co-founder, consultant and part time executive to Tech Start-ups. Based in Silicon Valley.
I work with two companies, PointGreen Business and Center for Innovation Commercialization, LLC (CICL), who do business development and monetization for innovative tech products. These companies work with many clients at a time, and aren't wedded to their own ideas, but serve their clients needs. There are many other individual consultants and companies like these who do this kind of work as well. Often, in the course of a relationship with such a company one of the business developers working on your account will get really excited about what you do -- and you will already know that they are well connected and produce, and they will approach you about becoming an employee. Sometimes, tech companies grow big and even acquire the whole business development / sales company and make it a sales division if they get real big. HP's entire western Sales force was acquired in this way when Norm Neely sold Neely Enterprises to HP in 1962.
Michael Franz
0
0
Michael Franz Entrepreneur
Co-Founder at Panogs LLC
Dallas,

I'm not sure what type of managed service you have in mind but I'd be interested in talking to you about it. I know a few people that are Business Development Pros that are looking to sink their teeth into something.

I see that you listed Interactive 360 on your profile page. I'd personally would be interested in talking with you more about that. My company is heavily focused on 360? content and experiences.

Drew Knapp
0
0
Drew Knapp Entrepreneur
Founder & CEO, goodideaZS
Hey Dallas,

Great to meet you. I've looked at what you're doing and would love to talk.

I'm a fully committed BD with deep experience in the SMB marketing space.

I also head up community marketing site A Greater Town, where we get about 6,000 new SMB submissions / signups per month. Would be very interested to jump on with your already launched product and bring to our users.

So there! :)

I hope you find of interest, and look forward to hearing from you!

Drew
Andrew Lockley
0
0
Andrew Lockley Advisor
Investor and strategy consultant
You likely just need a salesperson if your product is already profitable. A
Dwayne Johnson
2
0
Dwayne Johnson Advisor
Social Alchemist - I build equitable, prosperous, sustainable smart cities and regions.
Dallas,

That would depend on how much you know/understand about business and the type of business development help you need. This assumes that your value proposition/compensation makes sense for the type of person you're trying to hire. Don't expect $200K + commission sales people to come beating your door down to make 10% commission only sales on $1000 products in a saturated market with a 10 month sales cycle.


1) Saleperson
Someone find and close clients. A hunter killer that can effectively manage their time, contacts, pipeline. These folks are plentiful and if the returns are good they don't have to be in love with your company or product. They're coin operated. Don't expect them to do much else. It assumes that you, or someone else understands and can articulate the market opportunity, the general type of client you're looking for, why they would buy, and have a vague idea of how to reach them and can cobble together some sort of demand generating strategy if need be. Oh, and you'll need to provide them with the appropriate tools and have enough understanding of a sales process to manage them effectively. If they haven't had conversations with a specific number of people a week they need to be inspired to perform or move out the door.

2) Sales/BD-Lite
This is a person with sales and a slice of marketing experience; probably someone that has owned or worked for a small start-up before. The skills will usually be weighted toward one or the other (sales vs. marketing) but they'll get the basics about people needing to understand what you're selling and why they should care about it enough to help develop (or have developed) basic materials, website, short list of potential customers, etc. This person would care about what you're selling and want to have a hand in how you present and sell the service. This person doesn't have to be a partner but don't try and treat the like #1; they can do a lot for you and should be compensated accordingly. This sound like more of what you're after.

A word to the wise; vet the person thoroughly before engaging. This landscape is full of people that think they know more than they do and/or flat out shysters. Have someone you know or someone here vet them and don't be shy about putting someone on a 3 month contract with deliverables before you hire.
Join FounderDating to participate in the discussion
Nothing gets posted to LinkedIn and your information will not be shared.

Just a few more details please.

DO: Start a discussion, share a resource, or ask a question related to entrepreneurship.
DON'T: Post about prohibited topics such as recruiting, cofounder wanted, check out my product
or feedback on the FD site (you can send this to us directly info@founderdating.com).
See the Community Code of Conduct for more details.

Title

Give your question or discussion topic a great title, make it catchy and succinct.

Details

Make sure what you're about to say is specific and relevant - you'll get better responses.

Topics

Tag your discussion so you get more relevant responses.

Question goes here

1,300 Followers

  • Name
    Details
  • Name
    Details
  • Name
    Details
  • Name
    Details
  • Name
    Details
  • Name
    Details
  • Name
    Details
  • Name
    Details
Know someone who should answer this question? Enter their email below
Stay current and follow these discussion topics?