- Academics entering business must use compatible language (e.g., distinguish marketing, sales, and business development) to maintain credibility.
- Signaling theory: Consistent branding (logos, fonts, colors) signals competence and reliability, while inconsistency signals disorganization.
- Marketing has two parts: corporate identity (visual consistency) and content marketing (tailored messages for specific audiences).
- Sales is essential for new products; it involves understanding customer needs and overcoming inertia, but startups often need founders to learn sales themselves.
- Business development addresses obstacles like 'interface problems' or lack of reference customers, requiring partnerships and senior leadership involvement.
- Founders must actively drive sales and business development; hiring external experts is rarely sufficient for early-stage ventures.