What is Business Development?

Andrew Dumont
A free video tutorial from Andrew Dumont
Startup Founder, Marketer and Mentor
4.3 instructor rating • 2 courses • 25,145 students

Lecture description

What is Business Development? What does it look like when you step back and examine it's purpose? In this lesson, we work to explain the conceptual function of Business Development in the context of a startup.

Learn more from the full course

The Ultimate Guide to Startup Business Development

Learn and master the function of business development in this practical, actionable, and content-rich training course.

01:28:53 of on-demand video • Updated

  • By the end of this course, you will gain a deep understanding of the role of business development at a startup or large company, a roadmap to help you develop a plan, and the skills to execute that plan.
English [Auto] All right. So you're with me now. Now you know that business development is what we're talking about if you're if you're here to learn about sales you're probably in the wrong spot. I'm sure there's a lot of other courses for that. But but this is really really focused on the function of a business development. So let's let's continue with that and basically answer the function of you know what is what is the role of a business development person in a startup type environment specifically so. So I've done business development for about seven years now at varying sizes of companies. My my first startup that I was at that I did BDA was roughly three three to five people so very very small. And then I moved to a company that was about 50 people and now I'm at a company that's about 150 people. So I kind of I've seen this interesting array of different scales. But really when you think about the function of what I've been doing at all those places and all those different scales it's actually been pretty simple. So when I think about the function of business development within a startup I really think about. They are kind of the voice and the they are the trailblazers for new revenue opportunities improving those. So a lot of what I've done at Mai's has been kind of taking a look at the landscape and taking a look at the different opportunities that exist and trying a new channel. So when you think about business development it's all about developing different channels creating different channels that help grow the business. So at Maw's For example let's just run with that because I think it's I think it's probably easiest to go that way. There's these different channels that we've created and they all kind of know that's not a very good a very good direction. Is it. So there's all these different channels that we've created. And this is really this is the goal. I mean before before I came on MAS there wasn't really any any of these channels and a lot of the the goal of what I was trying to do when I first came here was to not only test these channels but see if they were viable channels and scalable enough channels for us to dig into a little bit about what a channel is a little bit later. But today for más these things are such things as an API licensing. So we have kind of our own data that we licensed other other companies. So its finding that channel and proving it out and and seeing if there's a business there. The next thing is distribution's. So this is taking our software product and working through partners as I mentioned in the business development versus sales Lessin previously working through partners to essentially sell our product for us. And this is all stuff will dig into a little bit later. And the third thing is just kind of the strategic relationship component. So every business regardless of what it is at más its a software product. But we rely on certain companies and a lot of cases to help our business run. So at MAS we have some pretty crucial relationships with with Google and Twitter and Facebook and all these you know really important companies for keeping our product strong and vibrant and growing. And a lot of the work is keeping these relationships really really strong. So if something happens or you need to grow faster or you need more support in a certain area you have a warm relationship here to start that discussion and make sure that that your company has what you need to succeed. So from a very high level without digging into all these details just yet the very high level function is Beatty's role at a startup is to blazed a trail to find new opportunities and make them scalable and grow them out and help the company grow as large as they can and business development is a very very key piece of that. So we're thinking that a little bit later from a very high tech level or holistic level and high level this is kind of what you got to think about.