Someone invited me to lunch recently to pitch their concept for a new business service. I am familiar with the target market and therefore was a reasonable sounding board. [1]
Obeying the Golden Rule – Having recently pitched a new biz dev project myself, I was keenly sensitive to listen intently and respectfully to the new idea. The concept is high-minded and potentially of high value, but I questioned whether the market timing was right for the proposed offering.
I offered several suggestions for test marketing the proposed service, including targeted roundtables and an email survey, to see if it might develop some legs. The conversation was engaging and stimulating as we massaged the growing variations on their original theme, but I also sensed some disappointment that I did not personally embrace the proposed service.
It’s a delicate balance – you don’t want to get a
reputation as a naysayer lest you lose out on the opportunity to hear early on
about interesting new ideas. On the other hand, concepts left unchallenged can
become expensive failures, and that’s not in anyone’s interest.
[1] Lesson #1 from Biz Dev 3.0 Fundamentals in 5 Easy Lessons
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