When should I hire our first business developer?

Peter Mullen / November, 2017

Description

Peter Mullen, Director of Business Development, Accomplio explains when to hire your first business developer and what kind of person would fit such a role.

Video Transcript

When should I hire our first business developer?

The answer to that question is always: it depends. It might depend on your funding stage, it might also depend on whether your product is something really new and game-changing versus kind of a me to product that may not have a lot of differentiators versus something else out at the marketplace.

So for example, if you have a newer game-changing product you might want to do a little bit of evangelizing first to kind of prime the market for the availability of your particular product or service. Because sometimes it requires a leap of faith for somebody to kind of really get and understand if you’re doing something totally new. On the other hand, if you’re bootstrapped, you might want to hire somebody, typically a newbie meaning somebody without much experience because you might not be able to pay them.

So they have to either work on commission or for equity or something like that. Whereas, if you have funding, then you might be able to go after a senior person but I think in general your product has to be very close to, or ready, for customers to start adopting and getting value out of that. That’s kind of the easy answer, there’s a lot of potential parts to that question but I think that’s just kind of a general guideline that I would would describe to.

QUICK INFO

  • Peter Mullen, Accomplio
  • November, 2017
  • 1:36
  • Marketing & Sales, Business Development

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