Business Development Secrets - 3 Business Development Strategies
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- Опубліковано 25 лип 2024
- Learn three of the most effective business development strategies for B2B Sales.
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Business development is one of the most underrated strategies when it comes to growing your business.
You see, with business development, one right customer can change the game. This is true if you're selling a product or service using B2B sales.
But if you're starting out, it can be confusing on exactly how to do this.
So the first question is, what is business development anyways?
Here's our definition we'll be using for this video.
Business Development: the process of developing growth opportunities and relationships with other organizations
We'll be talking about three different types of business development:
1) Product Business Development
2) Distribution Business Development
3) Channel Distribution Business Development.
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Patrick Dang is an international sales trainer who started his career at Oracle in Silicon Valley and quickly became on the top performers in North America in just one year.
After gaining experience in both the enterprise and startup world, Patrick began sharing his knowledge of modern sales students worldwide.
Since then, Patrick has trained over 70,000 students across 150 countries on topics on how to start a career in sales, business development, lead generation, cold email, LinkedIn, cold calling, and sales skills.
Ultimately, Patrick's vision is to inspire others to pursue their dreams and provide the knowledge and tools to make those dreams a reality.
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Really informative. Love the way he explains everything with such ease. Subscribed!
Patrick, you're a born teacher and your offerings are great! I feel very fortunate to have discovered you! Please keep up the great work!!!!
Hey Charlie, I really appreciate the kind words here. I’ll keep the videos coming!!
Thank you for this video! Very interesting content and I’ve learned new things from you. 👍🏻
I am new to Business Development and genuinely appreciate the thoroughness of your videos. Keep making great content!
Teach in a very clear, well understood way. Thank you sir for educating us 😊
Your videos are the best!!! Thank you!
Wow man .. you explained it very nicely.. you are great coach
Much Informative and precise. Thanks!
Patrick your videos are THE BEST!! thank you !!..
Just found your channel. Amazing content. Subbed immediately
love it, thanks Patrick
It would be great to have a video that breaks down commissions structures on different types of deals. (SaaS, Software, Consultant Services, etc) and the difference in commissions for inside sales vs outside sales.
I agree
Love your stuff Patrick
found this very helpful, thank you for the short but informative video!
glad you enjoyed it :)
Super informative! This video gives a lot of value 👌🏾 New subscriber over here ✊🏾
Hello. My name is Hyun Keun kim who is a korean and who asked you before.
your explanation is much better than other korean people's explanation.
I really thank you for making good information for free!
Thanks to you, I can learn something that I am eager to learn and study English as well!
I loved this video, it was exactly what I was looking for
great to hear
Your content is absolutely brilliant!!
Thanks a lot
one of the best knowledge sir
HI Patrick,
Could you please explain in more detail the difference between the distribution biz dev strategy vs the channel distribution strategy? As far as I understood, in distribution strategy service provider is a platform that takes a commission for using its platform as a marketplace (e.g. Spotify, amazon, etc), while in channel distribution strategy a service provider is a marketing agency or an official distributor of a producer that also takes a commission selling owners products. So, what are the big difference? Is it that the second type of strategy is the more personalized solution and more applicable in B2B sales, but the first one is more about B2C?
Thanks you.
Great Video!
This is super educative ❤
Patrick I send a lot of introductory emails and I like to follow up with a phonecall but I struggle with creating a script. Can you do a video on this?
Really good content
Amazing presentation. thanks for sharing.
Glad you enjoyed it
Thank you
Thanks for the content 👏🏻👏🏻👏🏻
No problem!
Awesome , love from INDIA ❤️
Thanks for shooting the nice video. A couple of questions: what is the difference between distribution and channel BD? From marketing point of view, distribution and channel are all talking about the place in 4P theory how to reach the customer. And what are the difference between these and the agent? Are these BD developing agent/distributor?
Saw that one of the question has been answered below. Please kindly share your comments on the other question.
Thanks Patrick! I'd like to see a specific video on how a Software Development Company can get clients on the US, now that we can't fly there.
Thanks for the suggestion, I'll see what I can do.
Thankyouu☺️☺️
great
feeling proud
what are the differences between Distribution BD and chanel distribution?
In the example about netflix, maybe Netflix is a chanel distribution in case of Dave.
Please explain more about the 2nd and the 3rd strategy.
Tks.
Thank you Patrick for the valuable information!
But i want to make it clear so could you please tell me, What are the main differences between business development distribution and channel distribution? Because i can see them so much similar.
Sure, when I'm referring to Distribution Business Development, I'm speaking more on putting your product on large platforms with scale (Netflix, Spotify, Apple, etc.)
When I'm referring to Channel Distribution, I'm referring to individual contractors who sell your products and services for you. The difference is a company can have hundreds or thousands of channels partners running their own businesses. Whereas in Distribution, you might have 10 total potential partners in the market.
Thanks for asking this. Had the same thoughts.
Hi Patrick, I’d like to please have a free advance in depth training on business development. I’m in the Insurance business.
Great work
These are amazing strategies. Thank you Patrick talk more on product BD
Thanks Victor!
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Hi there! I didn't really get the difference between 2. and 3. Both variants have other companies sell your product, right?
Thank for the video helped me a lot
I am showing gratitude towards you
Appreciate that!
Going into Business Development and WOWW thank you so much for this video! Broke all strategies down perfectly!!!
hey Patrick...love your content, can I be a part of the free sales sessions you are doing??
Channel distribution 🌟
what camera do you use? great content!
If you have an idea, how would you come about developing an app especially if you/your company does not have the development expertise to move the project forward. Further most of these bigger companies have IP or commercially sensitive interfaces, eg your Lyrics company attached to Spotify. How would you come about to find a developer knowledgeable in Spotify's code to interface with yours. I guess you would need your own development team and would with Spotify's developers under an NDA within your deal, correct?
This is the epitome of excellence. I read a book with similar content, and it was the epitome of excellence. "The Hidden Empire: Inside the Private Worlds of Elite CEOs" by Adam Skylight
Is channel distribution the same as affiliate marketing?
I think you should shout out the people who are always the first ones to comment on your video,as a thank you to them for supporting you
That's a good idea!
Thank you for sharing!
I'm doing business in amway at Singapore, very hard for me to find people. I'm selling nutrilite, makeup and house things. I already post in everywhere and done approach to my friends but nothings works. What should I do next 🤔? Give idea please 🙏
Three Key Takeaways: 1) No matter what the strategy, the focus is to create opportunities for growth for both companies involved; 2) Product Business Development is focused on creating a better product (essentially: how can we make what we both have better?), Distribution Business Development is focused on getting your product or service in the hands of more customers, faster (essentially: how can we get this out to as many people in the most efficient manner?), Channel Distribution is focused on partnering with someone who already has an established audience and can recommend your product or service (essentially: who can we work with to help promote our company?); 3) Each strategy requires lots of effort on both sides to make sure one side isn't putting up more than what they're getting from the partnership
My dream is to work for electric appliances companies or semiconductor companies as a B2B sales man or business developement
My questions.
1. Are there a lot of business developement jobs in electric appliances companies or semiconductor companies and do they recruit many business developement jobs?
2. Do even small or midsized firm recruit a lot of business developement jobs?
The reason I ask you is I'm thinking to work for small or midsized electric appliances companies or semiconductor companies first because It is hard to enter large company right after graduating from university as you know.
I will wait for your answer as you taught me!
Hi I am sales person in food ingredients sales,
9:10 channel distribution.
Dear Patrick, could you please explain in more detail the difference between the distribution biz dev strategy vs the channel distribution strategy? As far as I understood, in distribution strategy service provider is a platform that takes a commission for using its platform as a marketplace (e.g.spotify, amazon, etc), while in channel distribution strategy a service provider is a consulting agency or an official distributor of a producer that also takes a commission selling brand owners product. So, what is the big difference? Is it that the second type of strategy is the more personalized solution and more applicable in B2B sales, but the first one is more about B2C?
9:12 channel business development.
You look totally different from the udemy course. Hard to recognize lol😃
It’s the hair haha
@@patrickdang its like a scoop of ice cream on your head lol
I think win-win already means both sides……just saying. :)
When private citizens aka consumers buy the 50$ a month or whatever plan as long as they play whatever music they want on whatever platform is not their problem . They are actually an influencer giving their money to be a middle man to play anyone else's product. So they aren't liable for anything. If anything they should be getting paid for promotion.
Why are you speaking so fast :(
You can slow it down on UA-cam.
İ just want to simply say that: You speak so fast and if you consider about get another nation, you should go easy slow and more cleary. Thanks