"Why" Behind BD

BD is not just about making a single sale; it's about identifying and executing strategic initiatives that open up new revenue streams and sustainable growth pathways. It answers questions like:

•  How can we enter a new market?

•  What partnership would make our product indispensable?

• How can we leverage our assets to create a new business model?

• Market Research & Analysis: Identifying new markets, customer segments, and industry trends. This involves analyzing competitors, understanding regulatory landscapes, and assessing market size and potential.

• Strategic Partnerships & Alliances: Forming mutually beneficial relationships with other companies. This could be:

  • • Channel Partnerships: Selling through another company's sales team.

    • Technology Integration Partnerships: (e.g., Slack partnering with Google Drive).

    • Co-Marketing Agreements: Joint webinars or content

    • Strategic Alliances: Long-term, deep collaboration on products or market entry.

•  Sales & Lead Generation Support: While not directly closing deals, BD often works upstream to open doors through networking, attending conferences, and initiating conversations with high-value potential clients or partners.

• Product & Service Innovation: Providing feedback from the market to inform the product roadmap. BD might identify a feature gap that, if filled, would unlock a major enterprise segment.

•  Mergers & Acquisitions (M&A): In larger corporations, BD teams are involved in scouting, evaluating, and initiating conversations for potential acquisitions or mergers.

• Go-to-Market Strategy: Developing the plan for how a new product or service will be launched and sold to customers.