Business development is usually a misunderstood job and can be biased toward sales on the whole. Business developers are basically the creators of new sales leads, contacts or influencers and eventually conclude new business deals. Due to the importance of new business to most companies it can be a well paid role.
The job of a business development executive is to spot where sales opportunities may exist, facilitate the purchasing process and nurture good working relations with contacts and industry influencers.
Business development obligations include the following functions:
- Progressing new business opportunities and deciding what is important to convert them into a buyer
- Planning and preparing for remote and up close and personal communications to talk about and propose a business case
- Communicate what is crucial to the end user apropos their needs and opportunities re your products and services
- Oversee the development of marketing – this is sometimes neglected or executives and manager focus on basic literature
- Making reports
- Providing the C suite with feedback
Why business development could be the perfect job for you
If you have already experienced the office environment or you’re faced with the chance of spending 8 hours or more of your life stuck in a building 5 days a week and it’s giving you itchy feet then take heart, there are roles out there for the more adventurous and business development is one of them.
You’ll be involved in spending a large part of your time with buyers, networking and working closely with partners. This may happen during normal office hours, Monday to Friday in both full time or on a part-time basis.
This isn’t a job for shy and retiring types. You will need self confidence and enjoy hanging out with folk, facilitating buy in from customers and doing public speaking when called for.
Other features include:
- Understanding the customer
- Reading the situation and other people
- A deep experience of marketing principles
- Good communication and listening skills
- A positive disposition without being blind to obstacles
- Negotiation skills and building value
- Masses of initiative and self-control
- The ability to exert positive influences at various levels
The ups and downs of a business development role
Like all parts of life, there are good and bad sides. Your capability to handle the bad and draw on the good will ensure your accomplishment in this role long term. The bottom line is, this role is about giving folk what they want, and sometimes you have to overcome great obstacles in order to do that.
As long as the service or product you represent is aligned with the customers in your market and sufficiently differentiated, you have a fantastic opportunity and remind yourself if things start to go wrong its not you, it is your strategy.
The Good
- A lot of variety including people, places and ideas
- Exposure to different opportunities
- Creativity needed to see, plan and deliver outcomes
- Multiple disciplines involving sales, marketing and leadership
- Developing a strategic perspective
The Bad
- It can be stressful
- You’ve got to handle external and internal challenges on a daily basis
- You under the spotlight every hour of each day
Getting into and moving on from business development
Your capabilities combined with your people skills will count more than formal qualifications in this role. Nonetheless you are able if you wish further your qualifications thru either graduate programmes run by companies, or enhance your skills with training from various marketing, sales and business schools on day release or night school whilst your still working.
Career progression can be into more senior roles like managerial or even directorship positions. This usually inside business development itself or you can move into area like marketing or related areas of business.
Eventually you can take these skills and go into business for yourself. Which can amplify farther the bad and good parts of the job.
This article was produced for Nic Windley after lanuching a new business development jobs finder service for folks looking to find a job concerning sales, selling and leadership skills.