Michael C. Bertoni, Founder & CTO of PhillyTech, is defining Strategic Business Development (SBD) for the benefit of tech startup industry. His goal is to help tech startups create a competitive advantage, drive revenue, increase productivity, increase customer satisfaction and lower costs.
According to Get2Growth, there are roughly 1.35M tech startups and 135,000 new companies are formed every year. Statistics show that their success rate is only 10%. SBD is one of the most important concepts for a tech startup to learn in order to increase their success rate.
Let’s start first by creating a definition of a tech startup.
Tech startups are companies who are looking for a repeatable, scalable business model. They make money from the sale of a software, hardware product or combination of both.
Strategic Business Development (SBD) is the intersection of engineering and sales as well as the importance of these areas to the success of a tech startup.
Engineering can be defined as the team responsible for designing, building, delivering, implementing and supporting the software or hardware product.
Sales can be defined as the team responsible for prospecting, pre-sales, selling, on-boarding and servicing the product with customers and target prospects.
The intersection of engineering and sales can be defined as both teams moving in a consistent parallel direction and sharing a common vision and goals.
In order for a tech startup to be successful, the engineering team needs to be aligned with the sales team in all the responsibilities listed above. The engineering team needs to be focused on solving customer challenges and building a product that the customer wants to tell their friends about. The sales team needs to understand everything the engineering team is doing in order to be effective with the customer and targets.
Strategic Business Development (SBD) is the practice that enables engineering and sales teams in a tech startup to work together effectively.
Over the last 18 years the team at PhillyTech has worked with 1500+ tech startups and 500 in the last four years. We are experts in helping tech startups with engineering and sales, but more importantly understand the intersection of both in order to help them create a competitive advantage, drive revenue, increase productivity, increase customer satisfaction and lower costs. We’ve developed a proprietary SBD process where we discover and analyze engineering and sales teams and deliver an SBD report that identifies gaps and areas of improvement for a tech startup.
If you would like to learn more details about our SBD process please reach out to us by filling out the form below.