Sales vs. Business Development

Hey Everyone,

I see that people who get into VC can come from all types of different backgrounds, some of them coming from Biz Dev roles at successful start-ups, and I'm wondering what exactly this means.

I recently started on the sales/marketing/general client facing team at a tech start-up in nyc, and I am loving the experience so far, despite the decrease in pay. I want to get the most out of this learning experience in hopes of potentially breaking into VC someday at the junior level. I obviously want this company to become a huge success, but I'm thinking of all possible options, like most on this blog.

So:

1) At a start-up company, how to BizDev and Sales differ? Are they basically the same thing? We don't have a specific team for BD at my company.

2) How can I get the most out of my job with this new company, in hopes of someday transferring what I learned into a VC analyst role? Seems broad, but I'm sure there's someone on here who went from Sales/BD at a start-up to VC who could answer.

Any input would be much appreciated! Thanks guys.

 

The meaning of business development can vary, but, going by context: Business Dev can include bringing in clients, getting feedback/suggestions on products, looking into new sales avenues, etc. Basically anything that can sell more widgets.

Sales is developing customer relationships, and explaining why they should buy a widget from your company today.

 

At more mature/later-stage companies, I've heard it stated that the difference between Bus. Dev and Sales is the marked by the pre- vs. post-investment decision mark in time. Business development happens before you officially decide to enter a new market or start a new product and you're evaluating the best way to do so (JV, alliance, M&A, etc.). Sales happens after you've decided to launch the product/enter the market, where you have an offering and now are looking to sign up clients.

My guess for a start-up scenario the distinction is still there but there's more of a blurring between the two.

 

Alright awesome guys. Thanks for responding. Yeah this is still a pretty early stage company. We don't have any revenue yet and aren't planning on launching for a few months. Anything involving bringing in new clients, entering new markets, or helping to develop the product from a client's perspective is done by my team so I would say the line is blurred here.

Is there anything that I can do to make the most of my experience there in order to use it as a stepping stone to junior level VC. I see that many people in VC come from the non-traditional banking background. Anyone on here who has done Sales/BizDev at a successful start-up and then moved onto VC? Also, are there any WSO type blogs for start-up employees because I think that would be great.

Thanks again.

 

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