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Redefining the role of busines development in the digital generation

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A look at inner and outer challenges a Business Development person usually encountered. This presentation also look into how the BD world has changed due to the inclusion of digital generations into the business equation. Last section of the deck shares some of my personal idea on how to measure BD from CEO perspective.

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Redefining the role of busines development in the digital generation

  1. 1. Redefining the role of Business Development in the Digital Generation Derek Chim December 13, 2014 © 2014 Balance Technologies Ltd. All rights reserved
  2. 2. How much do you know about business development? What is your experience in working with them? © 2014 Balance Technologies Ltd. All rights reserved
  3. 3. The Usual Charter of Business Development Drive Sales (Prove it works) © 2014 Balance Technologies Ltd. All rights reserved Grow partners (Strengthen position) Identify opportunities (Seek growth)
  4. 4. “Inner” Challenge: BD Hard to Survive as a Role Back to basic: who actually “owns” BD when every departments have their own way BD Sales Marketing BD BD Product R&D BD © 2014 Balance Technologies Ltd. All rights reserved
  5. 5. The “Dark side” of Business Development © 2014 Balance Technologies Ltd. All rights reserved Drive Sales (Prove it works) Grow partners (Strengthen position) Great! We have new budget to try new things! Identify opportunities (Seek growth) I am not Sales, so I should get 80-90% fix salary. We focus on long-term, not immediate ROI
  6. 6. Our World Has changed! How much do you know about digital generation (your future customers & partners)? What disruptions it will bring to the role of Business Development? © 2014 Balance Technologies Ltd. All rights reserved
  7. 7. Understand the Digital Generations • Presence • Interesting work • Flexibility • Learning Awakening “Gen.”Y” (1981-2000) The Digital Generations • Work-life balance • Good benefits • Career progression Maturing “Gen.X” (1965 -1980) • Instant/now! • Connected • “Inner-centric” • Ethnically diverse, best-educated, technology savvy and independent (because of divorce, day care, single parents, latchkey) • Put high value on personal and family-related goals than their career goals • Proactive in purchase decisions & providing input • Usage Experience is as critical as design & features 7 • Long hours • Wealth creation • Post retirement work Retiring “Boomers” (1946 - 1964) • Flexible and motivated • Want career advance yet value freedom & time-off to balance their personal and family-related goals • Skeptical (after seeing the multiple bust & crisis) • Money is means to an end. • Complex & full of contradictions – Confident, yet yearn for praise – Demand respect/instant rewards even without experience – Expect to achieve now (goal-oriented), but rely on rescue • Environmentally conscious, highly mobile & connected • Impatient, irrational & Info. obsessed • Value relationships over Money • Grew up at a time of dramatic social change • Widely associated with privilege, as many grew up in a time of affluence. • Rock & roll & Beatles = their generational identity Digital “Gen.”Z” (2000-) • Lack the ambition. • Impatient & instant minded • Born with Internet, lifelong use of communication & media technologies with little privacy/ security concern • More introverted and aloof generation - "socializing" might not consist of outing (or even leaving your home) with peers for this generation.
  8. 8. “Outer” Challenge: Digital Generations Makes Existing BD Approach Irrelevant Your new customers & partners © 2014 Balance Technologies Ltd. All rights reserved Retiring “Boomers” (1946 - 1964) Maturing “Gen.X” (1965 -1980) Awakening “Gen.”Y” (1981-2000) Digital “Gen.”Z” (2000-) Grow partners (Strengthen position) Lock-in customers/partners through proprietary software and expensive hardware Lock-in become rare as more companies and individuals use open source & cloud Drive sales (Prove it works) Service Quality + Upsell customers/ partners as their data are mostly siloed with proprietary platform Service Quality + Uniqueness = name of the game as data are more open & transferable Identify opportunities (Seek growth) Cash-rich HQ/venture-backed incubation BD BU/Angel-backed incubation Micro-angel/Bootstrapping via customer development
  9. 9. How would you redefine the role of your Business Development Leads if you were the CEO? © 2014 Balance Technologies Ltd. All rights reserved
  10. 10. Broad-Based Innovations Are Required To Grow Future Current 1 Cost innovation (We are good at today) – Improve or replicate existing products at lower cost 4 Served Unserved – address new customer needs using incremental/ new technology capabilities 3 - serve new customer groups in existing market with new products - meet un-served customer needs using existing technology capabilities 2
  11. 11. Multiple Challenges Exists During The Transition Future Current • Increasing cost & time to develop more complex technology (per product) at shorter product lifecycle • Lack of co-creation capabilities 1 3 Cost innovations - Improvement or replication of existing products at lower cost 4 • Internet and digital convergence are changing the rules (Increasing horizontal expansion) • Rapidly changing market needs 2 Huge “me-too” competitions without patent/IPR protections Served Unserved
  12. 12. IMHO: The Charter of Business Development in the Digital Generation’s World of Constant Change Drive Sales (Prove it works) © 2014 Balance Technologies Ltd. All rights reserved Grow partners (Strengthen position) Identify opportunities (Seek growth) Own & drive as many initiatives as possible related to the three innovation forces only Measure the “voice” of internal “customers” (Sales, Marketing, Products, RDs) Measure the number of initiatives (related to the three innovation forces only) co-developed with customers & partners
  13. 13. Questions? © 2014 Balance Technologies Ltd. All rights reserved
  14. 14. Thank you © 2014 Balance Technologies Ltd. All rights reserved

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