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From one point of view, the role would be easier in a well estabileshed company, perhaps with a well known brand. From another side, a Startup company is usually exciting and motivating for its people, this point could make easier the job of Business Development.
In any case is an hard job!
Your question is which is easier and there is the answer. It depends on the person what they find more engaging either the challenges of a new start-up or leverage the already established business's brand and trust in the market. Nothing is easier or difficult its up to the persons interest, knowledge, skills and desire to move ahead that matters in my opinion.
Business Development is in itself a challenging task, be it in a start up or well established company. Both the entities have their own challenges.
At early stage it is the matter for "survival" of business. As time passes the focus changes from survival to "growth". Once established the major challenge is "sustaining the growth" of business.
Hence being a Business Development Manager is a challenging job at any stage of business.
Thanks
Senthil
THIS DEPENDS ON STAGE OF THE BUSINESS DEVELOPMENT MANAGER'S CAREER AND COMPANIES TOO. THE START-UPS USUALLY PREFER EXPERIENCED AS THEY BRING IN A VAST NETWORK TO BUSINESS, WHILE IF YOU ARE IN START-UP PHASE OF YOUR CAREER IT IS BETTER YOU START IN AN ESTABLISHED COMPANY.
I think it depends on the business development manager mentality, a new business will have a better challenge a well established company will have more assets and resources for him to use.
It completely depends on each individual, how he/she is going to take up the challenge. The work a business development manager has to do is the same in both the situations.
At the youngest of startups, the greatest opportunity to create long-term value is by finding customers to validate product-market fit. There won’t be a business in a few years if an early-startup cannot find traction within a few months, so value that is “long-term” to early-stage companies may actually be realizable in a relatively short-term period. Getting customers, users, or early adopters on board to validate the need for a product helps confirm (or dispel) whether the business has a solid base on which to build a future. Accordingly, the role of business development in a very early stage startup is often focused at the intersection of sales and product development.
Early-stage business development is often so integral to a company’s foundation that it primarily the responsibility of a sales-focused co-founder or CEO. At the same time, a company whose founding team is more heavily weighted with subject matter experts instead of business experience (for example, an all-engineer team or a company founded by industry domain experts) may prioritize an early hire of an experienced “business guy” to play the BD role while allowing the founders to exert their experience where it is best applied.
“Business development” in an early-stage company is focused on establishing a firm footing that will allow a product to become a company. By helping to fund the continued existence of the business, business development at early-stage startups is fundamentally about creating long-term value to the organization.
Once a startup has traction, the universe of realizable growth opportunities begins to expand.
Business development management roles now focus on evaluating the best paths to pursuing growth by relying on a backbone of existing products and customers. A company with runway, funded either by investors or revenue, can explore a variety of options in the pursuit of long-term value. As new growth opportunities become apparent – for example, ideas for developing new products, pursuing customers in new markets, investing in marketing or distribution efforts to attract customers – a growth stage startup must still carefully manage its limited resources and will still be forced to prioritize the most valuable uses of its people’s time.
Having achieved product-market fit, a growth-stage startup’s customers, products, or reputation, become an asset that may be leverageable for partnerships. Partnerships become an attractive option to pursue distribution, product enhancements, or brand equity. The ability to sell other companies on the idea of partnership and “do deals” that drive scale becomes a go-to arrow in a growth-stage business developer’s quiver.
Repeating the cycle of identifying, assessing, and pursuing strategic growth opportunities has the potential to create a snowball effect that leads the company down a course towards self-sufficiency, and ultimately an exit via IPO or acquisition.
More than the company, it would be the business development manager (BDM) that makes it easy or difficult.
How well is the BD able to understand the client needs and map it to the company service/product. How well is the USP being incorporated into this mapping.
That said, in a competitive market place experience of delivering successful projects provides a definite edge. It means the delivery team is familiar with meeting client expectations. From a start-up point of view, it would have to be experience of the delivery team members that can be leveraged. Coming across as a professional, focused and ethical is above all.
The answer is both depending on how the business development manager sees it. A new startup has a clean sheet or paper and providing a good defined target market its full steam ahead. A well known established company already has the credibility and structures in place, also the benefit of reputation.
Thanks dear,
I full agree with my colleague Mohammad Ashraf and Rami Abbas
I think its more easy to be business development manager in a company that is n early stages because n well known company u have to meet the high standards that has been maintained n that company and believe me its so hard to stuck n their.
