Business development jobs crop up in a variety of industries. Although it might seem like a complicated concept to get to hold on to, the role is straightforward. The primary focus is on generating more business for the organization through various methods similar to how an account executive works. So it's a bit sales-focused; however, not significantly a tele sales role!
Suppose you are looking for a career, or even just an initial graduate job in business development, that doesn't demand a lot of prior experience beyond a solid undergraduate degree. In that case, heading into business development could be a great call. It is an incredible experience to have on your CV, regardless of what you run into afterward, because it demonstrates an ability to be proactive, creative, and efficient – essentially showcasing that you are a great all-rounder.
Read on to get an inside glimpse at BDE career!
What does a Business developer do?
A business development executive is responsible for the overall growth of the organization’s business. The main job of the Business development executive is to get new leads to grow the sales and services of the organization.
There is a lot of stigma around BDE, thinking that it involves countless cold calling; however, this is not entirely true. A business development executive aims to generate more business revenue through getting clients proactively. And, this can be achieved using several methods.
Phone calls are one way of doing this, although so is creating personalized email campaigns and utilizing social media platforms such as LinkedIn. Thinking outside of the box is highly appreciated in business development executives.
Besides, they are also expected to look after the existing clients and foster repeat business; however, their prime mission is to establish entirely new relationships.
Key skills of a BDE
Business development executives are often known to possess an outgoing and dynamic personality. Besides, the ones that perform the best at networking are the sociable ones. However, if they are highly driven to hunt down new opportunities, they can also work independently.
Let's have a look at the key skills required for BDE jobs.
Communication and presentation skills will be frequently called on as the main job is to spend most of the time with the clients. The company's growth is dependent on the Business development executive, so one must have excellent verbal and written skills so that one can be able to fulfill the needs of the client efficiently, which is equal to the happy client's.
You need to be creative. Whether it is finding new ways for current opportunities or finding entirely new ways to market, creative thinking is essential for the role.
You will have to use market research and sales data to present opportunities to stakeholders. Besides, you will need to quickly understand what makes commercial sense to proceed and what could possibly cost more to explore than it could ever bring in.
You should have an in-depth understanding of the market to propose and develop new, realistic, attainable, and profitable opportunities.
Businesses continually require new terms, and it will be your job to ensure that the terms agreed upon are beneficial to your organization. Communication skills will definitely get you a foot through the door; however, having excellent negotiation skills will ensure future growth.
The role of a BDE is nothing sort of a balancing act. You'll often find yourself juggling and organizing the other team's workload as well as your own, yet you have to embrace this challenge. You must be on your toes to quickly meet the tight deadlines and nurture and develop slower-burning opportunities.
New business is rarely won overnight. You will need to prove that you can maintain and develop relationships over long periods yet still can pull in instant wins to meet goals and targets. Therefore, your focus must always be on reaching targets. Besides, you must be confident that you can pursue a long-term strategic vision while remaining flexible enough to respond quickly to fluctuating demands or unexpected opportunities.
Perks of choosing BDE Career
Working timings of a Business Development Executive are very flexible. They can work any time they want. Business development executives can apply to any job area, which provides them with the experience to work in a different culture and environment.
Besides, the salary of an experienced business development executive is quite high. Moreover, one enjoys complete work independence as he doesn’t have to report to any supervisor or manager.
Moreover, career progression for this role is pretty straightforward and perhaps easily attainable. First, you move into a business management position, then onto the head of business development. After that point, who knows, you might be able to found your own firm and use all your experience to push it to success.
Is BDE the right option?
If you loathe sitting behind a desk all day, then a BDE career will get you out and about. With all the client handling you are required to do, you will probably spend most of your working day in meetings or networking events. Besides, being a Business development executive is an outstanding job for people who enjoy being part of a management team.
You can do great if you have strong interpersonal and leadership skills, enthusiasm to track numbers and sales strategy, and the strength to work under pressure. If you are great at understanding and convincing people, a career as a business development executive can be fun for you.
There is an abundance of work openings throughout the online bidding career because every organization requires Business development executives. Besides, Business Development is a very competitive and fast-moving space.
Business development executives strive to deliver maximum output with minimum input. So, if you think you have it in you to get business for your organization, BDE is the right profession for you.
Editor: Richa Sharma