There is something missing from most business development project evaluations, serendipity.
Defined by Merriam-Webster dictionary as “the faculty or phenomenon of finding valuable or agreeable things not sought for”.
Seth Godin has outlined why companies fear business development (Link). It’s hard to justify the expense and risk on new ventures and projects. The control aspect asserted by legal and financial people reflects one reality inside the company, but don’t forget the other side reflected by the sales, marketing and business development people.
If it’s a good to great idea, and the cost is low, and the chance of success is moderate to good, and the possibility of adding knowledge to the organization is part of the project, then go ahead and try.
Can your organization consider and discuss “serendipity” as a factor in your next business development meeting?