“Perhaps the finest leader [Britain] has ever had once suggested that the three hardest things a man can do is, one, to climb a wall that’s leaning towards him, [another is] to kiss a girl that’s leaning away from him, and the third one is to make an after dinner speech. Now, had Winston Churchill turned his hand to business development, I do wonder whether or not he might have changed that last one around a little bit.”
How often do you think you have a pretty solid idea, only to realize that someone has already done it? Guy Simpkin, Bats Europe’s head of business development, knows that feeling.
In business development, numerous factors need to be taken into consideration and addressed in order to be successful — “Why are we making ‘x’ product?” “How do we market it?” “How do we get stakeholders to buy in?” “Who are our competitors?” and “How do we protect our (intellectual) property?” are just a few of those elements. If even one of those is not properly answered, the whole endeavor could come crashing down around you.
In this video, Simpkin discusses the trials and tribulations associated with developing a business in financial markets.