A business development manager is an individual who works to develop company’s market position and retain financial growth. As a business manager, you have to define long term goals and strategies for the organization, build rapport with customers, identify opportunities, negotiate business deals and also maintain knowledge of current business scenario. In simple terms, business managers are simply senior sales people who are responsible for creating opportunities for the growth of organization.
If you have keen interest in sales and building rapport with different parties, it is an ideal career choice for you. A competent business development manager is an esteemed asset of any organization as they are the motivating force behind producing new sales and developing contacts.
Roles, duties & responsibilities of business development managers
So, what does a business development manager do? Given the seniority of the position, a business manager has to overlook different functions ranging from day to day administration to making pivotal decisions. Here we have summed up basic roles, duties or responsibilities of business development managers:
- Conduct researches to identify potential new customers
- Increase sales of product/service to new and current customers
- Forecast targets regarding sales and their execution
- Identify new techniques and methods for boosting sales
- Bargain with customers and clients
- Build fruitful and profitable relationship with different parties
- Conduct training programs for employees and supervise them
- Attend conferences, events and meetings
- Plan and oversee new marketing initiatives
As a business development manager, you will work normal office hours. But on special occasions you may have to be work for longer hours to meet deadlines. You will also have to travel often for sales purpose.
All organizations, be it a business house or a fast food chain strives to be successful and ace in whatever it does. For this, they are constantly trying to evolve themselves and business development managers help them do just that.
- Commercial firms
- Educational institutes
- Government and public bodies
- Retail companies
- Legal firms
- Manufacturing factories
- Recreation businesses
There are many opportunities in commercial training programs, personal development training organizations.
Qualification and training
This area of work does not require degree in a particular subject and is open to graduates from any background. However, following degrees are helpful:
- Human resources
A post graduation degree is not compulsory but it does increase your chances. Once you get the job, you’ll also receive in-house training from your employers.
Required skills or job specifications for business development managers
As business development managers you need to relentlessly sharpen your skills to get edge over your contemporaries. Here are some skills and qualities one must be equipped with to be business development managers:
- Good interpersonal and communication skills
- Problem solving skills
- Ability for good negotiation
- Ability to work under pressure
- Flexible approach to work
- Good organizational and time management skills
- Good knowledge of business and market situation
- Leadership skills and ability to work as a team