Brenda Spoonemore - A biz dev playbook for startups: Why, when and how to do deals to help your business win
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This document provides guidance on business development strategies for early stage startups. It discusses what business development is, how it can help startups, and challenges early stage startups face. It then presents three case studies of business development deals between Yardbarker and FoxSports, BigDoor and NFL.com, and Fantasy Moguls and CBSSports.com. Finally, it outlines a three step process for startups to develop business deals: defining needs and potential partners, pitching potential partners, and negotiating and formalizing agreements while focusing on the relationship.
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Brenda Spoonemore - A biz dev playbook for startups: Why, when and how to do deals to help your business win
- 1. A BIZ DEV PLAYBOOK FOR STARTUPS WHY, WHEN AND HOW TO DO DEALS TO HELP YOUR BUSINESS WIN
- 2. WHAT IS BIZ DEV? Business development means establishing relationships and doing deals to help your company. Sales Licensing Distribution Branding • Revenue • Revenue • Audience • Brand alignment • Establish model • Client base • Intelligence/data • Partner • Shared revenue dependencies
- 3. BIZ DEV FOR EARLY STAGE STARTUPS Your unfair advantages: • Cutting edge tech • Nimble dev iteration • Optimization and focus Your key challenges: • Getting to scale • Little or no cash • Limited time and resources
- 4. HOW BIZ DEV PLAYS ARE DESIGNED Three case studies: • Yardbarker and FoxSports.com • BigDoor and NFL.com • Fantasy Moguls and CBSSports.com
- 5. YARDBARKER The challenge: Substantial amount of unique user generated content and a core community. Need more traffic to destination site to increase ad revenue and market position.
- 6. YARDBARKER AND FOXSPORTS.COM YardBarker: • Access to large base of sports fans • Provide new fresh content • Distribution needed to drive revenue FoxSports.com: • Get fresh content at low or no cost • Access to a user gen sports content community • Generate incremental revenue
- 8. YARDBARKER AND FOXSPORTS.COM Quid pro quo: Distribution Unique, low Revenue cost content Branding Revenue Community
- 9. BIGDOOR MEDIA The challenge: Unique customer loyalty/gamification tech but success dependent on reaching a passionate, engaged audience—the larger the better since only a % will convert. Monetization accelerated by leveraging existing sponsors and products.
- 10. BIGDOOR AND NFL.COM BigDoor: • Access to users and usage data to prove product model • Provide unique technology and expertise • Must support NFL to ensure successful deployment • Generate revenue via partner NFL.com: • Get unique functionality to drive core site metrics • Increase store of personal user data • Drive usage of other NFL goods and services
- 12. BIGDOOR AND NFL.COM Quid pro quo: Prove model Unique tech Distribution Revenue Revenue Data
- 13. FANTASY MOGULS The challenge: Fantasy Moguls runs social games with well established virtual goods revenue stream but untapped secondary sponsorship revenue stream. Engagement in games high but growth constrained by size of Moguls’ ad spend and audience.
- 14. FANTASY MOGULS AND CBSSPORTS.COM Fantasy Moguls: • Access to a sales force and sales revenue • Brand alignment • Marketing to targeted customer base CBSSports.com: • New and creative sponsorship inventory for clients • Ability to tap into virtual goods revenue stream and learn social games business • Test theories about untapped value of existing and new customers
- 16. FANTASY MOGULS AND CBSSPORTS.COM Quid pro quo: Distribution Virtual goods Branding revenue Ad revenue Ad revenue Access to new model
- 17. THE SECRET OF A WINNING PLAY If both parties don’t win, you’ve lost.
- 18. A BIZ DEV PLAYBOOK FOR STARTUPS BRENDA SPOONEMORE CO-FOUNDER AND CEO, D WELLABLE BRENDA@D WELLABLE.COM
- 19. YOUR PLAYBOOK
- 20. STEP ONE: DRAW UP YOUR PLAY • Define your needs • Know what you want, assign a metric • Create spreadsheet of target partners • Who is best positioned to deliver? • What do you have to offer in return (value)? • Find the right contact • Network and research • Cold calls are a last resort
- 21. STEP TWO: RUN THE PLAY • The pitch • Email or call to generate interest • Do pitch live or in person • Adjust on the fly • The proposal • Follow up with answers and proposal • Have term sheet in mind • Write out structure, model before sending
- 22. STEP THREE: FINISH • The negotiation • Don’t try to win every point • The negotiation sets the tone for the relationship • The term sheet • One page • The agreement • Legal, contracts vs letter agreements • The relationship • The only thing that really matters