Okay, so we have computers, contracts and staff, so we just work on our projects and cash in, right? Not quite. An important part of running a business is making sure you keep it running. So even though we have a filled calendar with money coming in for the next few months, what happens after that? That’s when you need business development.
Business development is anything and everything related to market opportunities, sales activity and business model design. Sounds very boring and not very VFX-ish, but it really means simple things like keeping up to speed with what is going on in our industry and look up what film productions are moving forward.
All this is part of our management coaching, where we are monitored by our consultant on a weekly basis. As soon as we started getting sound contracts, we knew that it would be crucial to have external support for business training. Making sure your bank account is in good shape and you have potential sales lining up in the not-so-distant future is important for any well established company, even more so with a start-up like ourselves since cashflow is at a minimum. It sounds obvious, but in the midst of running a business, it takes a lot of determination to step back and look at the big management picture.