Great business development is making a relationship where both companies win.
If you are doing a deal that is more of an auction. Like MySpace search traffic auctioned to Google and Microsoft. One company might have a strategic reason to pay. Competitive juices might start flowing and a bidding war may take off. But. This isn’t great business development in my opinion. In most deals I see like this end. One side becomes disenchanted and wants out. Or. They opt out at the first chance. Or. They ask to restructure. Deals like this aren’t sustainable and are short sighted.
Great business development isn’t about getting a great deal. It’s about creating a great relationship. A relationship that stands the test of time. A relationship that is a win win.
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