Business Development job description

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The position of business developer involves responsibility for identifying new business opportunities and business partners in order to generate new income for the company. This is done by research, networking, arranging appointments and putting together presentations aimed at attracting either customers or investors. Business development officers are also responsible for training sales teams and setting targets
An applicant for this role should have excellent verbal communication and presentation skills and be able to work successfully within a team. It is also important to have a high level of sales experience and knowledge of business and marketing protocols. IT competency is also essential, as is the ability to use initiative along with excellent organisational and time management skills
A degree qualification related to commerce and marketing is important for this position, as is previous experience in a related job, with average salaries at entry-level of £30,000, increasing with further experience and promotion.

Description

A large amount of time is spent by a Business Development professional in conducting research, monitoring economic trends and analysing foreign markets. They typically work in an office setting, juggling deadlines, and a myriad of other responsibilities. This can be a highly stressful and demanding role; persons must be tolerant and have all the necessary coping skills.
Because most companies usually grant training for these professions many various qualifications are acceptable; especially those in the business medium. Companies who hire Business Development professionals include telecommunications, pharmaceutical, software and consultant companies. Expanding the companies reach into the global market is the chief responsibility of someone with this job. The remuneration will vary.
A Business Development usually performs many of the following tasks:
• Monitoring business and economic trends
• Conducting the necessary research
• Using quantitative and qualitative methodologies
• Preparing business plans
• Managing the company’s financial resources
• Networking with other industry professionals
• Developing business relationships
• Attending symposiums,, workshops and trade events

Skills

• Being able to communicate verbally and in written form
• Being able to responsibly delegate to others
• Being analytical and able to interpret data
• Being influential, confident and motivated
• Being logical and decisive
• Being objective, flexible and independent
• Encouraging fellow co-workers
• Handling stressful experiences
• Having tact, professionalism and diplomacy
• Meeting project deadlines
• Networking and negotiating
• Organisation and resolving problems
• Understanding numerical data

Education

Like all business related professions, having a certification or qualification in business related courses, or fields in necessary. There are those employers who offer training to future Business Development professionals. The training is generally specialised to their products and services and rules out time which may be lost on their competitors.
Some people in Business Development go on to become sales or marketing managers or even Business Development managers. Understanding the concepts of Business-to-Business (B2B) or Business-to-Customer (B2C) is largely beneficial.

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