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Business Developer - Manager
What They Are - How To Get The job
A business developer plays a vital role in developing the business. They carry out a wide array of functions to pinpoint the drivers for the growth of a business. Business development involves increasing the value of the business by identifying long-term methods. It usually begins with identifying new markets for business and analysing the potential clients is another significant task. A business developer interacts with potential clients and ensures they become long-term customers. For this, he or she needs to set up a meeting to discuss the product or service and convince the clients. Comprehensively, a business developer is responsible for the financial growth of the organization. They are also instrumental in enhancing the company’s position in the industry and market as a whole.
Negotiating and closing business deals are not the sole duties of the business developer. He or she must also work towards achieving the strategic goals of the organization. This professional is also responsible for customer relationship management. The job of the business developer is an ongoing activity as the key area of bringing in new clients and retaining them is carried out by these developers. Also, he or she plays a significant role in setting up targets for sales and coming up with solutions to solve issues with the existing clients.
The business developer works in the middle and senior management levels and is required to make presentations about the new strategies and solutions. He or she might also sometimes have to make cold calls. They might be required to do a wide variety of tasks to predict the future needs of the clients and successfully achieve them.
In a nutshell, the role and responsibilities of the business developer include:
- Generating interest from potential clients and identifying new clients in the market
- Convince potential clients to do business with the organization
- Build rapport with existing clients to bring realistic sales targets to the sales team
- Researching and building relationship with new clients
- Coming up with new approaches and pitching them
- Meeting and negotiating agreements and contracts with clients
- Enhancing existing client relationships by presenting new products and services
- Business development, planning and management
Different Niches of Business Development:
The job of a business developer never runs short of challenges. He or she might be in involved in one of the many niches of business development, and can be found doing a variety of tasks for an organization. A developer can be in any of these niches or function in a couple of them, all based on the specific firms they work for.
Business Developers who deal with branding are into developing a new brand or expanding the existing brand. They might also be involved in introducing an existing brand in a new market or re-branding the same brand in an existing market.
A business developer here needs to be innovative and develop a new product. It implies he or she needs to take the products to the client and market them; and, ensure successful implementation of plans and strategies to make a profit.
Go to Market:
Here, the role of a business developer is to create the target markets for products and services. He or she might have to work with the business developers of different niches of the organization.
One of the niches of business development, where the professional has to work with all the niches of business development. He or she works collaboratively with the entire team and across the teams to develop new target markets for sales.
A business developer working in the niche of distribution takes care of cross-channel marketing.
What makes a good business developer profile?
Business developers are employed in a wide range of sectors. The common employers include banks, financial institutions, IT sectors, pharmaceutical companies, telecommunication firms, technology companies and educational institutions. Here are the key points the profile of a business developer must consist of:
Details of educational qualification including a basic introduction
Detailed description of IT and presentation skills
Relevant work experience in the field
A brief note on your communication, negotiation and analytical skills
Note of any of the additional qualification or certification you have achieved
Certifications or accolades that exhibit your ability to work in a team
Endorsements from previous clients or employers about your skills
Reference of previous employers or links to previous projects completed
What are the skills required for a business developer?
It is mandatory to hone these skills if you want to make business development your career.
Excellent verbal and written communication skills are a must for a business developer. It is the key to being a successful business developer.
Group presentation skills, as it is the way to present the ideas effectively to the clients and the team
Basic computer skills are essential, while competence in PowerPoint, Excel, and CRM software gives a certain advantage over the other job seekers.
Being innovative along with good problem-solving skills.
Ability to propose solutions relevant to client-specific needs
Collaboration skills, as you would be working with multiple parties when you are a business developer.
Strong research and analytical skills are required as well since you will have to research your competitors and analyse their strategies. You will then need to form your own strategies accordingly.
Project management skills are mandatory as business developers need to deal with project management too; as you would be setting goals, planning and managing a variety of risks involved.
Negotiation and persuasion skills are important for business developers as they need to be diplomatic throughout their career span. He or she needs to know how to convince the client and where to compromise as well.
Apart from these skills, there might be more requirements of specific industries.