How is business development measured?

Eric Rosenthal / November, 2017

Description

Eric Rosenthal, Head of Global Business Development at Abra explain how they measure business development efforts.

Video Transcript

How is business development measured?

I think that one of the fundamental learnings that I have had, or we have had, is that many times business development is a broad sweeping term that refers to a lot of different things. Some people interpret business development as sales, some refer to business development as striking deals, but ultimately, particular in the early stage of a company, business development’s role is going out and discovering the market and providing mechanisms in which the feedback can be brought back to the company to inform product, inform marketing and ultimately inform the rest of the company about what is going to work, or what could potentially work to allow the company to get that product market fit.

Consequently, the KPIs are slightly difficult to have, because one way it can be measured is how many deals are getting done, how many users have been acquired, what is the revenue that is being delivered, but at the early stage of a company, I call it subjective KPIs; can this person who is doing BD write a pitch deck from ground zero. There are certain types of people when you give them the script they can deliver very well and that is a sales person in my opinion.

Someone that actually needs to go out into the market and create the script as the company is being developed and think strategically and ultimately take that feedback and institutionalize it for the institutional learning is a skillset in my opinion that is someone that has the ability to both sell, but also a person that really think through what are the implications and what are the learnings that are required to change how the company operate in the future.

Company

QUICK INFO

  • Eric Rosenthal, Abra
  • November, 2017
  • 2:09
  • Marketing & Sales, Business Development

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