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Careful Consideration and Analysis

Most organizations view business development opportunities as a threat.

A threat because a mistake could upset the status quo, could cost money or time, or even get someone in trouble.

After an initial screening, the typical bizdev proposal is given Careful Consideration and Analysis. Which means that lawyers work hard to make sure (among a hundred other things) that the trademark licensing deal is accurate and appropriate (SM instead of TM, please) and that they've done their job and that nothing bad can happen.

The problem, as you've already guessed, is that fashion is unpredictable. So, if the very point of the bizdev deal is to engage in a search for a hit, to do something new and inexpensive that may or may not work, then Careful Consideration and Analysis is probably completely inappropriate. Careful Consideration and Analysis leads to high overhead, slow turnaround and plenty of "no".

The alternative might be, What's the Worst That Could Happen? Look at a deal. Decide if there's enough upside possibility. Do the What's the Worst That Could Happen test. Figure out how to avoid the most egregious outcomes. Then do it.

Repeat.

My guess is that Starbucks' digital music efforts didn't pass the Careful Consideration and Analysis test. But they did it anyway. And it failed. No big deal. Why? Because What's the Worst That Could Happen was pretty low.

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Listed below are links to weblogs that reference Careful Consideration and Analysis:

» What is the worst thing that could happen? from ReveNews - Tim Storm
Once in a while we get introduced to a concept that we may already have in our arsenal of business thoughts but might not be aware that we are already doing it. Check out the latest entry from Seth Godin's... [Read More]

» Serendipity as part of business development from Lee Iwan, Bits and Pieces of Accumulated Experience
There is something missing from business development project evaluationserendipity. Defined by Merriam-Webster dictionary as the faculty or phenomenon of finding valuable or agreeable things not sought for. Seth Godin has outlined... [Read More]

» What’s the worst that could happen? from Manage To Change
Have you ever wondered why large established companies often have problems innovating? Could it be that they think they have too much to lose? Could it be that they’re worried about their reputation? I think Seth Godin hit the nail [Read More]

» Risk Reversal and "What's the worst that could happen" from Fraser Mcculloch
Have you ever sent a bulletproof proposal over to a prospect only to find their response to be we are still giving your proposal careful analysis and consideration? Seth is spot on with business development opportunities - try pitching them [Read More]

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At yesterdays seminar, the issue of liability came up (as it always does) with many agents worried that they could get in legal danger for content that they write on a blog. My summary of what Russ is able to say quite eloquently is that the ty... [Read More]

» Can Thinking Kill Ideas? from Servant of Chaos
Sometimes we have to work hard for an idea, and at other times ideas can just come streaming into our consciousness. But once we have an idea, how do we turn it into something? When you work for yourself, or [Read More]

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Most juniors develop their swings using faulty equipment that leads to life long swing flaws. The following absolute units are available:Introduci... [Read More]

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