The Business Developer is a very crucial role in a company’s growth and thus is a pivotal position within it. It is a managerial position usually assigned to existing senior managers or dedicated business developers with a proven record. Perhaps there is no position in a company as challenging and therefore it is amply rewarding from the point of view of both job satisfaction and money.
Key Responsibilities
The key responsibility of a business developer is to attract new customers and penetrate existing markets. For the purpose, he assesses marketing opportunities and targets markets, gathers intelligence on customers and competitors, generates leads for possible sales, advises on drafts, implements proper sales policies and follows up sales activity with a review and appropriate modifications. He also drafts formal proposals and prepares presentations regarding the identified sales opportunity and develops a proper business model design. The business model involves evaluation of a business and then realization of its full potential using tools like marketing, information management and customer service.
They may follow one of two models: sales-oriented (client facing) and operational function to support sales. In the sales-oriented or client facing role, the concentrates on developing strategic channel relationships or on general sales. It is an operational function to support the sales of a company is often made the responsibility of a separate functionary known as the capture manager, while they continue with finding other sales oriented leads.
Level of Education Required
They are professionals with qualification and experience in financial services, investment banking or sales. Many enter the area by climbing the corporate ladder in fields like operations management. Thus to be one must have a formal degree in business management with specialization in finance, investment banking or sales, along with considerable experience. They must be skilled or experienced in marketing, company law, strategy, finance, proposal management or capture management. The exact set of skills will depend on the business environment being dealt with.
Career Path
Since they are existing professionals with considerable skills and experience, one can’t acquire this position at the beginning of a career. So, future business developers must enter the corporate sector as junior level managers and go on to acquire skills and experience in areas like finance, investment banking or sales. At the same time they must continue to develop their skills in the area of business development. Once they feel confident enough to take up the challenge, they must enter the field at the right opportunity. The opportunity may be in their existing company itself or in some other company that is looking for business developers.
A business developer’s career is immensely satisfying and financially rewarding although stressful and demanding physically and intellectually. With continuing growth of the economy business developers are sure to be in increasing demand in the coming years.
Summary
When discussing the Business Developer Resume, it cannot be adopted as a new career, it is open only to existing managers and professionals. To become a business developer one must get a business management degree with specialization in finance, investment banking or sales and acquire relevant experience by joining a company as entry level manager.
