If you like researching the internet and talking to people, you may want to become a business development executive. Business development careers offer you an opportunity to learn about business expansion, lead generation, and other factors that are vital to the growth of a business. What is business development? How can you get a business development job? You will get answers to all these questions in this article.
Business development: An overview
Business development encompasses three aspects of business - marketing, sales and strategic analysis. A business development manager may be involved in creating marketing strategies, lead generation, and negotiating, and closing deals. Find new avenues In short, a business development executive aims at identifying new business opportunities in the form of strategic alliances, exploring new markets, and roping in more clients. It would be correct to say that business development professionals are responsible, or play an important role in revenue generation.
Prerequisites for development jobs
To apply for BD jobs, you should be having some experience in marketing, sales, or client management/corporate communications. Strong research skills as well as quantitative and analytical skills are some of the prerequisites for business development. A business development executive is expected to negotiate with other businesses to close deals. This calls for strong communication skills, especially for online media jobs. Experience in finance or corporate sales can be an added benefit to applicants for business development manager jobs.
If you hold a degree in BA, BS or MBA, you can apply for BD jobs. For business development positions in technology companies, a technical background is often required. Like sales, networking is a vital aspect of business development. Thanks to the growing internet industry, more and more online businesses are in need of business development executives and managers to forge alliances and partnerships. The B2B (business to business) model of online businesses has facilitated the growth of outsourcing non-core business functions through business development. Business development career Having a considerable experience in business development can lead you to a senior position in the following domains: · Sales · Partnerships · Strategic planning Compensation varies depending on the business area, responsibilities, knowledge, and experience. Before applying for a BD position, spend some time researching about the company, its clients, and its history.