Business development manager or business developer is an individual who takes control of every organizational policy, and constitution that has to do with the ways a company or business will find its ways into the apogee of its industry. Apart from the fact that business developers help maximize profit for the business, they are known to play a crucial role in the success of the organization just as they generate new sales leads, negotiate client pricing, and forecast sales revenue.
There is no such business that aims to grow or develop both numerically and financially that will underrate the indispensable position of a business developer. Certainly, if this position remains void for too long, chances are the company may run down or crumble without ever being able to maintain the light of day. This goes to mean business management carries the burden of the growth and development of business enterprises.
Business Management Skills
Let us discuss some of the skills that business development managers are expected to have in order to perform their roles and responsibilities.
- Communication Skills: Business development managers must be able to communicate with clients of all backgrounds and educational levels. Well-developed written and verbal communication skills are must-haves for professionals who work in this field.
- Organizational Skills: Professionals who choose this career path must be comfortable juggling numerous clients, on- and off-site meetings, and deadlines. Individuals who are highly organized are best equipped to manage the many parts of the job and keep client proposals and other tasks on track.
- Time-management Skills: Business development managers must understand how to prioritize their time. Individuals who work in this field must be comfortable managing a calendar and adjusting their schedule as needed.
- Technical and Computer Skills: Most organizations use a sales content management system (CMS) to track leads and client calls and document where each prospect is in the sales cycle. Aspiring business development managers must have basic technical and computer skills.
- Drive and Self-motivation: The most successful business development managers are goal-oriented and commission-driven. Professionals who have drive and motivation will push themselves to succeed.
5 Business Developer Roles And Responsibilities
Here are the 5 business developer roles and responsibilities that entrepreneurs must look out for:
1. The business developer researches, plans, and implements new target market initiatives
2. The business developer also sets goals and develops plans for business and revenue growth
3. They calculably develop quotes and proposals for prospective clients
4. Business developer makes research on prospective accounts in target markets
5. They attend conferences and industry events
Other Roles and Responsibilities of business developers are that they are known to be:
- Pursuing leads and moving them through the sales cycle
- Setting goals for the business development team and developing strategies to meet those goals
- Training business development staff
- Develop a growth strategy focused both on financial gain and customer satisfaction
- Conduct research to identify new markets and customer needs
- Arrange business meetings with prospective clients
- Promote the company’s products/services addressing or predicting clients’ objectives
- Prepare sales contracts ensuring adherence to law-established rules and guidelines
- Keep records of sales, revenue, invoices etc.
- Provide trustworthy feedback and after-sales support
- Build long-term relationships with new and existing customers
- Develop entry level staff into valuable salespeople