When we hear this term Business Development, the first things come in mind is Sales. Many students seem reluctant to do Business Development jobs and the general tendency is, if we don’t get anything, Business Development is the last option.
Firstly, the term Business Development is not to be confused with SALES. Sales is just a part of Business Development. So, what exactly the selected candidates required to do in Business Development roles. Lets Understand:
Strategic Planning:
The role of a Business Development Executive or a BDE is to think like a businessman and must take ownership of promoting the product with the zeal of an entrepreneur. Expanding business of the company with the limited resources must be the priority of a BDE. Understanding own product, competition’s product, market identification, preparing pitch and putting best efforts in completing goals set by the company must be the primary role of a BDE
Managing People: The most important role of a BDE is this and the results are just the byproducts. If a person can manage relationships with its Clients, Team, Supervisors, then there is no easiest job in the planet. Maintaining discipline, managing time, respecting other’s viewpoint can take a BDE’s career to unimaginable heights in a shortest possible time.
Revenue & Sales: As told earlier, this is a byproduct of the above two. But most of the people follows this first ignoring the most important factors. Identifying prospects and creating a big funnel always helps. When the above two factors are taken care of, it will surely translate into Sales and Revenues.
If pursued properly, this is one of the most rewarding career in the world. This department is the backbone of any company.