This interview makes it clear that one of the advantages of using a Venture Capitalist is that they can help with business development.
I’m starting to realise, understand, that an essential part of running a business is business development. I’m used to functioning in ‘art’ circles, not ‘business’ circles. I see that business development is perhaps the business world’s version of ‘networking’. Establishing connections with other businesses and sharing efforts to further each of our businesses together.
In the past (say last year), my understanding of business was that you had a service or product, and you sell that service or product. Ambisonia is a publishing service. It is a portal that connects home theatre owners with surround audio publishers. Whilst I am having difficulty pinpointing exactly how I can pull income, there is no shortage of other businesses that can benefit from Ambisonia being successful.
I can see now that the right way forward is for me to begin to build conversations with these other businesses.
But this is difficult, because I am now spending most of my time working to pay the bills… and one thing I have learnt is that communication (phone, email or other) can easily chew up the whole day…
Read “A Good Hard Kick in the Ass: Basic Training for Entrepreneurs” by Rob Adams. Other businesses will not want to talk to you unless you can take away their pain. Find out what is hurting them, then work out how Ambisonia can solve their problem.
hmmm … thanks Martin … I’ll see if I can get my hands on it. The other book I am thinking of getting is “The E-Myth” … I’ve heard that’s good as well.