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(DAY 325) Navigating the Business Development Maze - Why 99% Might Feel Like a Waste (But It Isn't)

· 2 min read
Gaurav Parashar

Hey, fellow founders and trailblazers! Let's dive into the world of business development. Buckle up, because here's a little secret - almost 99% of the activities in business development might seem like a shot in the dark. But fear not, it's not as chaotic as it sounds.

As a founder, your days are filled with a multitude of tasks, and it's easy to feel like you're tossing ideas into the abyss, wondering if anything will stick. Spoiler alert: it will, but it's all about that 1% that transforms your efforts into long-term, repeatable revenue and profit. Let's break it down.

The 99% Hustle

Yes, I said it - a considerable chunk of what we do in business development might feel like a whirlwind of efforts with no apparent ROI. Whether it's attending events, sending cold emails, or perfecting your elevator pitch, the reality is that not every move will lead to a groundbreaking deal or immediate success. It's the nature of the game.

The Founder's Dilemma

Now, this doesn't mean you should ditch these activities. Instead, look at them as building blocks for what's to come. As a founder, your primary role is to assess the probability of long-term, repeatable revenue and profit from your product or service. That's the endgame, and every seemingly futile endeavor is a step toward that goal.

The Power of a Stellar BD Team

So, what's the key to turning the tide in your favor? Enter the superhero squad of business development - your team. Having a high-quality business development team is like having a compass in the vast wilderness of potential opportunities. They're the ones who will help you navigate the maze, pinpoint the valuable connections, and turn that 1% into a roaring success.

The Daily BD Grind

As a founder, business development is not a once-in-a-blue-moon activity. It's a constant grind. Whether you're diving into it every day or conducting weekly and monthly reviews, it's a perpetual process of experimentation, reflection, and refinement. Think of it as sculpting - chiseling away the excess to reveal the masterpiece beneath.

Embrace the chaos, learn from the 99%, and never underestimate the power of the 1% breakthroughs. Keep experimenting, keep hustling, and surround yourself with a BD team that shares your vision. Remember, success in business development is not a sprint; it's a marathon.