View
138
Download
0
Category
Preview:
Citation preview
Derek Chim
December 13, 2014
Redefining the role of Business Development in the Digital Generation
© 2014 Balance Technologies Ltd. All rights reserved
How much do you know about business development? What is your experience in working with them?
© 2014 Balance Technologies Ltd. All rights reserved
The Usual Charter of Business Development
© 2014 Balance Technologies Ltd. All rights reserved
Drive Sales (Prove it works)
Grow partners (Strengthen position)
Identify opportunities (Seek growth)
“Inner” Challenge: BD Hard to Survive as a Role Back to basic: who actually “owns” BD when every departments have their own way
© 2014 Balance Technologies Ltd. All rights reserved
Sales
Marketing
Product
R&D
BD
BD BD
BD
The “Dark side” of Business Development
© 2014 Balance Technologies Ltd. All rights reserved
Drive Sales (Prove it works)
Grow partners (Strengthen position)
Identify opportunities (Seek growth)
Great! We have new budget to try new things!
I am not Sales, so I should get
80-90% fix salary.
We focus on long-term, not immediate ROI
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
• 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
The Digital Generations
Understand the Digital Generations
7
Retiring “Boomers” (1946 - 1964)
• Long hours • Wealth creation • Post retirement work
• 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.
Maturing “Gen.X” (1965 -1980)
• Work-life balance • Good benefits • Career progression
• 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
Awakening “Gen.”Y”
(1981-2000)
• Presence • Interesting work • Flexibility • Learning
• 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-)
• Instant/now! • Connected • “Inner-centric”
• 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.
“Outer” Challenge: Digital Generations Makes Existing BD Approach Irrelevant
© 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
Your new customers & partners
How would you redefine the role of your Business Development Leads if you were the CEO?
© 2014 Balance Technologies Ltd. All rights reserved
Future
Current
Served Unserved
Cost innovation (We are good at today) – Improve or replicate existing products at lower cost
1
4
– 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
Broad-Based Innovations Are Required To Grow
Multiple Challenges Exists During The Transition
Future
Current
Served Unserved
Cost innovations - Improvement or replication of existing products at lower cost
1
2
Huge “me-too” competitions without patent/IPR protections
3 • Increasing cost & time to develop more complex
technology (per product) at shorter product lifecycle • Lack of co-creation capabilities
4 • Internet and digital convergence are
changing the rules (Increasing horizontal expansion)
• Rapidly changing market needs
IMHO: The Charter of Business Development in the Digital Generation’s World of Constant Change
© 2014 Balance Technologies Ltd. All rights reserved
Drive Sales (Prove it works)
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
Questions?
© 2014 Balance Technologies Ltd. All rights reserved
Thank you
© 2014 Balance Technologies Ltd. All rights reserved
Recommended