Peter Mullen, Director of Business Development, Accomplio explains the key difference between business development and sales.
Peter has enjoyed a long and diverse career in the technology industry and is particularly impassioned with opportunities to upset the status quo and seek unconventional solutions to conventional problems. Peter provides consulting expertise in the B2B startup space as an adviser, business developer, fundraiser and ambassador.
Video Transcript:
What is the difference between business development and sales?
The core difference between business development and sales is through business development and through alternate channels. The customers are acquired just through partnerships or through other channels or affiliates as opposed to direct sales efforts. Sales again typically mean hiring a direct sales force and whether you use SDRs, sales development representative, that feeds or leads to account managers or just have a direct sales force that does cold calling or direct outreach on their own. They are tasked with carrying a quota and bringing in customers directly and they are compensated and measured by their contribution to the company revenues or bottom line accordingly. Indirect channels or busy developers are typically measured through KPIs program development signing alternate agreements but ultimately, they will carry quota as well and also have revenue numbers that they have to hit. If an alternate channel, or an affiliate channel or a partnership channel is not delivering, then obviously something needs to be done to stimulate revenues or perhaps go to a different direction.
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