Business development is like sales with one key distinction: it is primarily focused on exchanging value through partnerships, whereas sales primarily focuses on exchanging dollars for a product.
With sales, you’re selling directly to a customer. With business development, you’re partnering to reach customers in a way that benefits both parties.
We interviewed Chris Fralic, former senior business development executive at AOL, Half.com, eBay, and Delicious, and current partner at First Round Capital. Chris described how he used business development successfully at each of his startups (all of which were acquired).
Many companies like Delicious got traction through business development. Even Google, a company ...