- Business development managers are concerned with improving and growing a business, by establishing and developing relationships with customers, suppliers and other partners
- As a business development manager you ll identify new business opportunities in order to generate revenue, improve profitability and help the business grow
- Your work can involve careful strategic planning and positioning in the appropriate markets, or enhancing the operation of the business, position or reputation in some way
- You may have a single role in the organisation or lead a team of staff
- Your work will often reach across all areas of the business
Your responsibilities will include -
- research and identify new business opportunities - including new markets, growth areas, trends, customers, partnerships, products and services - or new ways of reaching existing markets
- seek out the appropriate contact in an organisation
- generate leads and cold call prospective customers
- meet with customers/clients face to face or over the phone
- foster and develop relationships with customers/clients
- understand the needs of your customers and be able to respond effectively with a plan of how to meet these
- think strategically - seeing the bigger picture and setting aims and objectives in order to develop and improve the business
- work strategically - carrying out necessary planning in order to implement operational changes
- draw up client contracts - depending on the size of company, this task may be completed by someone else or agreements may not be as formal
- have a good understanding of the businesses products or services and be able to advise others about them
- ensure staff are on board throughout the organisation, and understand the need for change and what is required of them
- train members of your team, arranging external training where appropriate
- discuss promotional strategy and activities with the marketing department
- liaise with the finance team, warehousing and logistics departments as appropriate
- seek ways of improving the way the business operates
- attend seminars, conferences and events where appropriate
- keep abreast of trends and changes in the business world.
What to expect:
- You ll work in an office environment, but will frequently travel within the day for face-to-face meetings with customers and other business partners.
- It can be challenging trying to create new business opportunities, in addition to the constant pressure of meeting or exceeding targets. However, business development is quite a creative role and can be very satisfying.
- You may have the responsibility of managing a team and their output.
- You ll be expected to dress smartly, especially for meetings, though slightly more relaxed business casual attire may be acceptable at other times.
- Depending on the type of business, overnight or overseas travel may be required.
Qualifications
- A degree is not essential for this role and some business development managers work their way up through an organisation, gaining experience in a sales or marketing role and undertaking work-based training
- Another increasingly common route into business development management is through an apprenticeship, combining work with part-time study
- Apprenticeships are available at various levels, including degree-level
- As its a competitive role with good prospects, many entrants do have a degree, and a degree is essential if you wish to apply for a place on a graduate training scheme
- Degrees in business development or business management are the most relevant
Other relevant subjects include:
- accountancy
- business studies
- economics
- finance
- international relations
- marketing.
- A postgraduate degree is not a requirement for this career
- It also possible to move into a business development manager role from related jobs such as commercial manager, account manager, sales executive, business development executive and sales manager
Your Tool-belt:
- tenacity and drive to seek new business and meet or exceed targets
- an excellent telephone manner for making initial contact and for ongoing communication with customers and business associates
- interpersonal skills for building and developing relationships with clients
- written and verbal communication skills - needed for communicating with a range of people, both internally and externally, as well as presentation skills
- IT skills, including the use of spreadsheets
- teamworking skills and a collaborative approach to work
- decision-making skills
- the ability to multitask and prioritise your workload
- project management and organisational skills
- the ability to motivate yourself and set your own goals
- negotiating skills
- the ability to think strategically
- the ability to analyse sales figures and write reports
- a flexible approach to work with the ability to adapt to a fast-paced, ever-changing environment
- initiative and the confidence to start things from scratch.
Types of business management:
Business development can be applied to almost all types of business, but you may choose to specialise in a certain sector, such as:
- construction
- education
- finance
- healthcare
- IT
- manufacturing
- telecommunications.
Alternatively, you may work across many different businesses, but with a specific focus on either:
- B2B (business to business)
- B2C (business to consumer).
Benefits:
- Competitive salary and perks
- End-to-end Product Development (from idea to execution)
- Convenient office location and open office culture
- Opportunity to make contributions to open-source
- Nurturing and supportive environment that fosters development and growth