CHAPTER 18
VAPOR SALES
AS WE DESCRIBED in Chapter 4, “Business Development Versus Sales,” BD involves “selling” a product or a partnership idea to another entity. But sometimes that process necessarily involves a smoke-and-mirrors show. It is very common in BD to pitch a product or a partnership idea to a willing participant while the product is in the process of being built or finalized.
There are a few circumstances in which vapor sales are necessary, the first of which is the ideas stage. Hypothetically, you are working on a new startup or a new product at an existing company. You would like to get some market feedback on your idea before spending resources and time building it. While this scenario ordinarily takes place in the partner feedback ...
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