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Tangible, sustainable growth will come from building and nourishing strategic relationship... not just sales.
In what researchers now describe as "the Era of a Kinship Economy," leveraging strategic partnerships is increasingly critical to your company's growth. To get and stay ahead of your competition, you need partners. And not just any partners. You need strategic, Fortune 1000 powerhouses. Partnering with giants is complicated, but most companies, even the smallest ones, can benefit from creating such a bond through a strong business development (BD) effort.
In The Sumo Advantage, you'll learn how to build and sustain BD initiatives that will propel your enterprise. You'll learn how to design and build your company's BD Layer to turbo-charge sales efforts and growth. You'll discover how to identify potential partners and entice them to partner with you in a win-win scenario. You'll also begin to understand the key terms of a successful partnership and learn how to negotiate to get them. Finally, you'll learn how to identify the best BD possibilities, and get the most out of every strategic partnership.
- Sales Rank: #198290 in eBooks
- Published on: 2014-01-24
- Released on: 2014-01-24
- Format: Kindle eBook
Review
"I've seen these business development principles in action. They work! At CARFAX, Bernie and his business development team made a substantial strategic impact on the company and its successful growth in a very short period of time."
Richard Raines - President, CARFAX, Inc.
"Successful entrepreneurs figure out how to hack the world to create seemingly "unfair" advantages that propel their companies to greatness; as an entrepreneur and investor I'm constantly working with my teams towards this goal. The Sumo Advantage is the unfair advantage we look for, outlined by one of the true masters of BD - thank you Bernie for sharing this with us."
Joe Lonsdale - Founder of Palantir and Addepar, Partner, Formation 8
"One of the most important ways a startup can get momentum, can breakout, and can thrive is through superior business development. Applied correctly, it is a strategic weapon that greatly increases the odds of success in startup. Great startups borrow credibility in the market from more established players, and this is done through top notch biz dev. In my view, every venture-backed start-up should have Bernie come in and mentor their executives. Follow his lessons and you'll double your valuation within 12 months."
Jim Armstrong - General Partner, Clearstone Venture Partners
"I've worked with hundreds of advisors as an entrepreneur and as an investor, and Bernie was easily the most valuable. He passionately evangelized the product and lined up key partnerships that we had thought were impossible. Bernie is the best at what he does."
Naval Ravikant - CEO, AngelList, Founding CEO, Epinions,Inc., Co-author, Venture Hacks
"Business Development is an art. It creates a vision of how the partners can effectively work together and then commits that vision to the canvas of successful implementation and enduring partnership. In my experience there is no better and no more prolific artist than Bernie."
Victor Doolan - Former CEO BMW USA
From the Inside Flap
Sumos vs. 800-lb Gorillas
Entrepreneurs and business owners alike constantly seek advantage over the competition. For most, "winning" means gaining market dominance, product superiority or increased sales. The stated goal is often to land "the 800-pound gorilla," the implication being that such a coup would alter the company's future. But is a gorilla the right target? Maybe not.
A gorilla provides power but has no "X factor" to accelerate market dominance. Instead, consider pursuing a "sumo," who is always focused on beating the competition and who leverages his enormous weight and muscle to force competitors out of the ring. The gorilla is raw muscle and can exert enormous strength but is not at all strategic. It is instinctive and lacks self-awareness, imagination, and independent will. The sumo, on the other hand, is interested in out positioning, outsmarting and even out psyching the competition, using all means available.
The Sumo Advantage provides the strategies and tactics to help you find and partner with sumos. If you are unaware of the distinctions between sales and BD, then your sales-only focus may be what is holding you back. Once you understand and really believe that sales and business development are very different functions, the sky's the limit on growth.
From the Back Cover
Tangible, sustainable growth will come from building and nourishing strategic relationship... not just sales.
In what researchers now describe as "the Era of a Kinship Economy," leveraging strategic partnerships is increasingly critical to your company's growth. To get and stay ahead of your competition, you need partners. And not just any partners. You need strategic, Fortune 1000 powerhouses. Partnering with giants is complicated, but most companies, even the smallest ones, can benefit from creating such a bond through a strong business development (BD) effort.
In The Sumo Advantage, you'll learn how to build and sustain BD initiatives that will propel your enterprise. You'll learn how to design and build your company's BD Layer to turbo-charge sales efforts and growth. You'll discover how to identify potential partners and entice them to partner with you in a win-win scenario. You'll also begin to understand the key terms of a successful partnership and learn how to negotiate to get them. Finally, you'll learn how to identify the best BD possibilities, and get the most out of every strategic partnership.
Most helpful customer reviews
8 of 8 people found the following review helpful.
This is the must read BD book!
By Simon Rakoff
Bernie Brenner has successfully done what no other book ive seen has been able to do- demystified BD and created a practical framework that is applicable across industries and verticles. Bernie's approach to BD is powerful and demonstrates his deep expertise earned over many years actually doing this stuff successfully.
The Sumo Advantage is so poweful that we recommend it to all of our portfolio companies.
If you are running a small company and are wondering, "How can I strike up a strategic relationship with the biggest players in my space", you have got to read this book.
Simon Rakoff
General Partner
Fortify Ventures
4 of 4 people found the following review helpful.
FINALLY - A great book about real BD!
By John R. Durrett
This book is about business development - not sales. Far too many people confuse the two. As the author explains early in the book, "BD is the polar opposite of sales." If you want to learn how to become a better salesperson, how to close that big account, how to increase your commission check, etc., then go read Strategic Selling or Spin Selling or one of the ridiculous number of books on sales. But if you want to learn how to create and develop deep strategic partnerships that can utterly transform your company, then you need to read the Sumo Advantage.
As an early-stage entrepreneur, I've struggled personally with how to build initial momentum and credibility in the marketplace. How do you break into costly and competitive marketing channels when you have no scale? How do you get customers to buy from a company they've never heard of? Why should anyone pay attention to you?
In the Sumo Advantage, Brenner explains that one highly effective approach is to establish partnerships with big companies that have already solved those problems. Fortune 1000 companies are already in those marketing channels and already have relationships with all the customers you are trying to reach. So instead of trying to brute-force your way into a market where you're woefully out-manned, you can co-opt the strengths of those bigger businesses and make them yours.
Importantly, though, this only works if you bring equal value to the Fortune 1000 company. While your company may lack the resources, brand, etc. of the bigger sumo, your advantage as a small company is that you can act quickly and creatively and without the organizational baggage that often slows big companies down. Together, you have everything it takes to win, but it's up to you, the entrepreneur, to paint that vision for the sumo and help them realize the full potential.
Amazingly, this is the first book I've come across that is entirely focused on this kind of real BD and how to practically apply it to real business. Brenner explains in detail how to identify potential partners, sell them on your strategic vision, negotiate the deal, and - most importantly - nourish and develop the relationship over time, so that it becomes a powerful contributor to your business.
If you're an entrepreneur, you owe it to yourself to read this book. It's quick, compelling, and immediately actionable - and it will make you think about your business strategy in an entirely new light.
4 of 4 people found the following review helpful.
The True Power of Business Development
By Chris Yeloushan
As a former Sales Manager, I viewed sales synonymous with business development. However, the Sumo Advantage outlines key distinct differences with real life examples of strategy rather than focusing on transactions. Most sales organizations stress the importance of always getting a yes, while in business development the goal is to not get a no. If you are looking for a true reference guide to shape and transform your skills, this book is for you. Bernie Brenner offers twenty plus years of his personal experience by securing and developing strategic partnerships with the country's top brands.
This book is a must read for professionals who want to build effective business development strategies through real life examples that work.
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