I'm building a SaaS platform related to big-data. Beta release is scheduled for end of April. The first customer is on board and ready to pay 25 to 50k, including licensing and services fees. This customer is also a SaaS provider and intends to white-label my product and provide it to other big customers such as AT&T. At the same time, having worked for them, I know that Verizon and Cisco would be potential customers. I also have good entries in these two companies that I intend to leverage for business development purposes. However, I am a software developer and business development isn't really my thing. Hence my question: what are some effective ways to quickly setup a business development team without breaking the bank? My goal is to find the low hanging fruits and identify and possibly onboard 4 to 10 customers before getting out to raise some money. Does this strategy even make sense to startup experts and successful entrepreneurs out there?

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.


Answered 5 years ago

Unlock Startups Unlimited

Access 20,000+ Startup Experts, 650+ masterclass videos, 1,000+ in-depth guides, and all the software tools you need to launch and grow quickly.

Already a member? Sign in

Copyright © 2021 LLC. All rights reserved.