Business development framework for gamechangers


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Scale Business Group sponsored Executive Leadership session presented by Nathan Beckord of VentureArchetypes at GameChangers confernce.

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Business development framework for gamechangers

  1. 1. STARTUP BUSINESS DEVELOPMENT A simple framework for successful deals
  2. 2. BUT FIRST,WHAT IS “BD?” Defining the context • What do we mean here? – “Inorganic” growth • Generally, partnership deals: - Distribution deals - Co-Marketing / PR deals - API deals - Platform deals - Content acquisition deals
  3. 3. STEP ONE: EXPLORE Getting to know you... • Key Focus: – Build rapport, trust, relationships – Understand current activity and goals • Tips: – Avoid NDAs if possible – Really seek to understand what they want – Get all the stakeholders involved • “Tricks:” – Introduce a few diversionary “asks” – Test the limits Net Net: Trust + understanding = solid foundation
  4. 4. STEPTWO: TERMS Expectations, Obligations, Roles, Requirements • Key Focus: – “We do this, you do that” – Layman’s terms not legal (but documented) • Tips: – Set expectations and an achievable bar – Be the “Guardian of the Mutual Win” – Get all material items in there, this round • “Tricks:” – Ask for the world – Get them rationally and emotionally attached Net Net: Reasonable, achievable hurdles to build momentum
  5. 5. STEPTHREE: LONG FORM DA Bringing in the attorneys • Key Focus: – Papering it all up – Protecting from downside risk • Tips: – Segregate legal to legal, business to business – Cultivate a champion on the other side too – Keep advancing the discussion-- aggressively • “Tricks:” – Try not to introduce any last-minute bombs – Rapid exchange of redlined T’s and C’s doc Summary Protect, but don’t derail the deal
  6. 6. STEP FOUR: IMPLEMENTATION Executing the deal • Key Focus: – Seamless hand off – Post-signing activity • Tips: – Have proper people involved – Have an official hand-off meeting – Clarify expectations with your team – Keep BD team involved, checking in, facilitating • “Tricks:” – Send a thank you gift! – Review metrics, KSFs periodically – Look for ways to expand successful deals Summary Deal close is just the beginning
  7. 7. MORETIPS FOR SUCCESSFUL DEALS Dave’s Top Ten (Seven) List 7. Be operationally “ready” to do a deal 6. Focus on the right targets (& big wins) 5. Come from position of strength (hint: product) 4. Understand your partner’s pain 3. Introduce competition. 2. Know where the fire escapes are 1. Celebrate wins publicly and remember, Have fun with it! Question: What would be a company-making deal for you?
  8. 8. CONTACT Let’s talk about your BD strategy Nathan Beckord 415-370-5060 twitter: @startupventures We look forward to working with you.
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