Started on my consulting firm around 5 years ago - quite organically. (I was a freelancer taking on more work than I could handle so I hired help). Now we have around 40 people, a pretty remote team, some big Fortune 500 clients as well as lots of startups. We're also incubating our own SaaS products. I'll address your questions as well as offer my own experience as lessons / pitfalls. As many have said, sales and BD…
My current challenge is to scale it up!
I used a very simple approach. I talked with a bunch of startups and SMEs and asked what their main challenges were. With all this information, I was able to find some trends and develop an offering that they really needed.
Best part of it was that I already had my first set of customers. By talking with these guys, they were fully aware that they needed and better solution and actually asked me to do it. In fact, I had to bring 2 people into the team in order to manage all the work.
By the way, I just wrote a new post and am promoting it around. I would love to hear your thoughts and know if there are any other topics you would like to see discussed in my blog.
http://untamedpotential.com/business-development-finally-cle...