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Business Development Job Description
Business Development - The People
To those who ask about a Business Development Job Description, I can tell you it is so much more than just a job – it is a lifestyle and a way of thinking.
Of all the positions in a corporation none are as “involved” as the role of the business development executive. New business and efficient business practices are the life-blood of any organization. This is why the BizDev role is often retained by the one of the founders of a new company even when all the other roles have been assigned during the growth of the company. It is also the reason for the failure of a lot of new companies, as the founders may have come up with a great idea, but the development of the idea is an issue apart from its conceptualization. It is a misnomer to associate a BizDev role with the role of sales. Although sales is a component of the position, sales is just one small role that is contained in the overall position.
A good Business Development Manager is born – not created.
If a person is not ‘wired’ the right way, they will fail and waste time and money – or worse, cause the client organization to fail.
A BizDev Executive will have an innate and natural ability to identify new business opportunities – including new markets, growth areas, trends, customers, products and services.
A Business Development Executive has a natural inclination to think strategically and is easily able to see the bigger picture. This allows him/her to create aims and objectives in a given direction in order to develop and improve the business.
A Business Development Consultant will work on marketing, market research, and new business development and will have the ability to work strategically and be able to plan and implement operational changes and create new business relationships to improve business flow, procedure or enter into new fields of operations.
The general scope of Business Development often requires strong communication skills and effective interaction with a variety of managers and technical professionals while paying attention to the politics that exist in the organization.
The key elements of a successful business development manager are:
A positive attitude is a mindset that helps you see and recognize opportunities and as such, a positive attitude is essential to business progress. This state of mind brings light, hope and enthusiasm into the life of not only a BizDev manager, but to those in his/her proximity. [/caption]
A positive attitude does not mean that one believes that everything will always be smooth, it means that one knows that one has the ability to deal with any setbacks and will overcome obstacles as they present themselves. A positive attitude is a state of mind that envisions and expects favorable results, even when trying something new. The keywords for this person are: “I can”, and “it is possible”.
Openness is one of the five personality traits of the Big Five personality theory. An effective BizDev manager has a naturally open
personality and the ability to take things in stride. They enjoy change, and new things. The prospect of something new is exciting, not intimidating. Things going sideways are viewed more as opportunities for learning rather than challenges and a good BizDev Manager is always looking for new things to learn and new ways to approach things.
An effective BizDev manager will always be finding a way to improve on something. It is not a part of their job, it is a part of who they are. Inventing the better mousetrap is the wire an effective BizDev manager is wired. He will incessantly be working on finding a way to streamline things; faster production, a cleaner way to market, ways to reduce time wasting friction and increase productivity in any circumstance.
In order to apply the innate creative skills, a BizDev manager will be able to quickly and easily understand not just the surface of what a business is undertaking, but will be able to see the underlying challenges and the opportunities those challenges present.
They will know how to use research and data and most importantly, discussions with people in your company to develop and implement new ideas to help streamline your business efforts to develop new, realistic, attainable and profitable opportunities.
Business development requires not only the ability to think, but also the ability to communicate. BizDev Managers need to be able to communicate effectively at every level of the company, ranging from the warehousing staff to the senior management and owners. The requirements to achieve this can change from company to company and from office to office. A BizDev Manager needs buyin from everyone in the company at all levels if they are going to be able to successfully implement anything new in the organization.
Additionally, a BizDev manager will need to convince people outside of the organisation to invest in or partner with your company, this requires a next level set of presentation and communication skills.
Finding the place where all people can agree is always a challenge.
People are generally resistant to change, and being able to demonstrate the rationality of changes to methods, pricing, and terms that may have been in place for a long time requires a strong ability to engender the faith of others.
Negotiation skills are paramount for success as a BizDev Manager.
Good Business Development is a lot like herding cats. Some projects will come into place faster than others and there are so many variables interlinking all of the initiatives that the ability to organize and anticipate how they will affect each other is crucial. What complicates it even more is that people are also unpredictable and everyone else with whom you are working has their own agenda and tasks to complete. Being able to organize everything from the pencils on your desk to organizing a large gathering of people is part of the job.
A BizDev Manager has the ability to not only identify a goal and a path to it, but also can reach that goal in the most efficient manner possible. The road to any destination can have many small detours, perhaps some major ones when required, but arriving at the overriding objective is the focus of an effective BizDev Manager and he will invariably demonstrate that he can navigate difficult terrain and end up at the destination, even after having taken necessary detours. Flexibility is key to be able to take on all new challenges along the path, but good a good BizDev manager contains the ability to always find his/her way back on track to the destination.
Business Development - The Position
General Tasks Undertaken By BizDev Executives
Projects undertaken by BizDev Executives
Specific Tasks, when grouped together, form projects. Here are some of the projects typically required in a Business Development position.
Educational programs to get staff up to speed and onside during any changes to the organization.
A BizDev manager is always learning and undertakes several methods to get up to speed and stay their target industry:
Sometimes the job requirement gets more involved in sales, in which case he will:
If you are interested in more information how Mr BizDev can be of assistance to you.
Business Development Job Manager Description Resources
To succeed in this position you need to not only have the appropriate acumen, but you need to have the appropriate psychology and temperament.