Loading...
Answers
MenuWhat are some effective ways for a self-funded B2B startup to build a business development team without breaking the bank?
Answers
It sounds like you are going after high value targets who have layers and layers of insulation between your company and decision makers. If it were me, I would find someone either on here or on Linkedin who have existing relationships in your core industries and work out compensation deals with them directly. Everyone is different with how they want to be compensated, however, since you have self-funded, any revenue is good revenue at this point. I have some ideas for you if you want to contact me directly.
Hi there!
A couple of ideas you can use , in order to save money and develop the team without breaking the bank;
-The first and the most utilized, look for co-founders , and give them a % of the business, always have in mind that for this kind of business the magic number is 3, a person who build it, a person that sales it, and one that scale the business.
-Hire someone , don't pay too much but give him/them a % of equity and/or a small amount of commission per sale.
-I don't know in what country are you, but, look for government incentives for SMBs (non-reimbursable contributions) , you can use those funds to increase your capital and afford the business team.
-Finally, you can also look for sponsors in order to get more capital.
If you need more help with some of there actions, i will gladly help you.
Best,
From the outset you as the founder have to be doing the sales, or then find yourself a co-founder (which is not the same as a SaaS sales rep) to help you out on the business side of things. But unless you do the sales, you will never figure out what will work, which part of the value prop is resonating and therefore you will never find product/market fit. Hiring a sales rep too early (prior to you getting a few customers on your own), will simply result in their inability to sell your product which you will attribute to their failure as a sales rep when in fact the product's value proposition isn't yet clear enough for any customers to buy at scale. So close the first accounts first on your own or get a co-founder on board who can, but don't go out and hire a SaaS sales rep until you know what the product really should be. Once you do know, you can easily hire a few SaaS sales reps on low retainer + hefty commission.
Related Questions
-
How can I become an idea person, as a professional title?
One word: Royalties This means you generate the idea and develop it enough to look interesting to a larger company who would be willing to pay you a royalty for your idea. This happens all the time. Rock stars, authors and scientists routinely license their creative ideas to other companies who pay them a royalty. Anyone can do it. Your business, therefore, would be a think tank. You (and your team, if you have one) would consider the world's problems, see what kinds of companies are trying to solve those problems, and then develop compelling solutions that they can license from you. You have to be able to sell your idea and develop a nice presentation, a little market research and an understanding of basic trademark and patent law. The nice thing about doing this is that if you develop enough cool ideas you will have royalties coming in from a lot of different sources, this creates a stable, passive revenue stream that requires little or no work to maintain. Start in your spare time and plan on the process taking 3-5 years. Set a goal to have a few products in the market that provide enough revenue (royalties) to cover your basic living expenses. Then you can quit your day job and dedicate more time and increase the momentum. A good idea business should have dozens, if not hundreds of license contracts generating royalties. It's possible to pull this off. And it is a fun job (I'm speaking from experience).MM
-
How do you get your first customers for a consulting business?
Back when I started LinkedIn wasn't as huge as it is now. I wish it was. I didn't have a large network and those networking sessions NEVER brought me any clients. I used to go to all sorts of them hoping to get clients. There were a couple of nibbles here and there, but never anything serious. The only thing that helped was reaching out DIRECTLY to people in my target market. That meant cold calls and cold emails. I'd sell myself while thinking about their needs. Once I got a few bites I'd build good rapport by keeping in touch, asking questions, repeating back what they were saying so that they knew I was on the same page and kept my promises. If I said I'd call them back next Tuesday at 2:15 I'd do so. Eventually I built trust with them without having a network, or an insane amount of experience. Oh and the most important thing about consulting is to LISTEN. When those first clients notice that you're truly listening and you're not selling the cookie cutter solutions everyone else is trying to sell them that's when you got them hooked. You start to understand their problems, fears, and see through their eyes and not just yours. A network will help, but in the beginning just good 'ol salesmanship will get the ball rolling.JC
-
What companies have successfully implemented both B2B and B2C products or services? Which should I start with for the non-profit sector?
I would suggest the first question to ask is "what problem do I solve?" And of those people I solve problems for "who do I create the most value for?" In the non-profit world you need to add "How does my business help the non-profit run better and/or help the group the non-profit focuses on?" For example, if you've created a platform that drives donations, your company "has created a platform that helps you reach fundraising goals faster." What you don't want to do is market and sell to B2B and B2C audiences simultaneously. They have different ways of buying - a B2B audience needs to have their benefits quantified (using your thing makes me x amount more) - and it's extremely hard for a startup to be able to do both well. Better to start with one, execute really well and move into the other. Feel free to give me a call and we can dig into who your most valuable audience is.AV
-
Where can I find programmers willing to join a growing mobile start up for equity only?
You won't find anyone worth adding to your team willing to work for equity only, no matter how compelling your product and business is. The realities of the talent market for mobile developers anywhere is such that a developer would be foolish to work only for equity unless they are a cofounder and have double digit equity. Happy to talk about hiring and alternatives to full-time hires.TW
-
What advice do you give to a 16 year old entrepreneur with a start up idea?
First, hat tip to you for being a young entrepreneur. Keep it up! If you have the funds to build out your MVP, hire a developer and possibly a mentor. If your idea is marketable, you don't need to give up equity by bringing in a co-founder. If this is your entrepreneurial venture, I would recommend you do retain a coach to help you see all the things you may not know. Have you already done your SWOT analysis? Have you identified your target market? What is your marketing plan? What will be your operating expenses? There are lots of questions to ask. If you would a free call, I'd be happy to help you in more detail. Just use this link to schedule your free call... https://clarity.fm/kevinmccarthy/FreeConsult Best regards, Kevin McCarthy Www.kevinmccarthy.comKM
the startups.com platform
Copyright © 2025 Startups.com. All rights reserved.