Startup School – Business development: Lessons learned
You may have a great product, but without paying customers you are out of cash and out of luck. Answer these questions first:
- Who are you selling to?
- Why will they buy it from you?
- What’s in it for them?
- Who will sell it?
- Can you sell it?
- Do you know anyone who can be a ready customer today?
- Do you know a customer who will fund this from day one and buy it when it’s ready?
More questions to ponder before diving in: Can you find a paying customer who will part with hard cash to pay for what you have to offer? Who will find these customers for you? Will he be able to sell your product? Will they buy it from him? Without answers to these questions, you don’t have a shot at generating revenues or surviving.
Next question: Can you really outsource or truly delegate business development or for that matter any other crucial function?
When was the last time you were part of an organization that found the rainmaker who would save your soul, your startup, your investment, your clients, and bring some sense of sanity to your life? When was the last time such a rainmaker delivered on the promise of his arrival? In real life you can never divorce yourself from the drivers that have a direct impact on your immediate survival, your valuation or the growth of your business. Hold on to this thought until we get to the lessons on leadership and heroes.