New business: The commercial alchemy that defies systematization

New Business.

Not quite Sales. Not exactly Marketing. Different from Business Development. Something more elusive.

I first encountered it in advertising agencies, where the Head of New Business was this mysterious figure I couldn't quite figure out. Initially, I thought they just schmoozed their way through long lunches and industry events.

One of these figures was a guy called Sam Kelly. He was clearly very good at what he did - I just didn't know what it was. And I never had the courage to ask him about it (hi, Sam).

Years later, I realized what I'd missed. New Business isn't schmoozing - it's reading people, putting them at ease. Being interesting, and interested. Understanding motivations that aren't written in briefs or whispered in meeting rooms.

Then there's the commercial alchemy - designing deals that actually make sense for both sides. Creating value rather than just capturing it.

In a world where the tech industry seems to co-opt every term under the sun, everything's become a function, a system. Sales has its playbook. Marketing its metrics. Business Development its pipeline.

But New Business remains delightfully resistant to systematization. It's quicksilver - part art, part instinct, part commercial savvy. You can't quite grab it, but you know it when you see it.

And here's the thing - whether you're a freelancer, founder, or corporate climber, you'll need the skills of New Business sooner or later. The ability to create and design opportunities rather than just chase them down.

P.S. If you're wondering what the difference is between this and Business Development, Seth Godin's post on the topic is vital reading.