If you enjoy strategic planning, goal setting and achievement, and collaborating with people both inside and outside your organization, you might be interested in a career as a business development manager, and your company will need a Business Development Manager job description to hire one. This free Business Development Manager job description sample template, which includes salary and skills can help you attract an innovative and experienced Business Development Manager for either a construction or marketing company.
What is a Business Development Manager?
Business development managers, often known as BDMs, are important members of the go-to-market (GTM) team. They are in charge of generating sales leads and pitching to these prospects in order to increase the company’s client base. They assist in moving people from the top of the sales funnel to the objective of becoming a signed customer. Many business skills are required for the function of business development, including strategic planning, project management, and successful negotiating.
A Business Development Manager job description should request a variety of skills and abilities centered on the organization’s greatest strategic and financial outcomes. When developing the Business Development Manager job description, consider that qualified individuals may come from a variety of industries.
What Does a Business Development Manager Do?
Business Development Managers often work for organizations in a number of industries, performing responsibilities that aid in the growth of the company. They leverage their business and sales knowledge to hire experts for sales, marketing, and business development positions. It is their responsibility to monitor market trends and identify opportunities for development. Obtaining new suppliers to improve product quality and coordinating new marketing campaigns to extend the company’s consumer base could be examples of this. They may also provide assistance to higher management by arranging meetings between clients and company executives.
Work Settings for Business Development Managers
The majority of business development managers work full-time, Monday through Friday, but their work conditions differ. Some business development managers work in an office, while others work totally from home, and still, others work a combination of the two. Furthermore, people in this area frequently travel to attend conferences, conventions, and client meetings.
Business development managers are employed in a variety of industries, including:
- Software and Hardware
- Staffing
- Cybersecurity
- Construction
- Healthcare
- Financial services
- E-commerce
What Should be Included in a Business Development Manager Job Description?
A Business Development Manager is a senior position with significant duties and obligations to accomplish, as well as immediate and long-term goals to achieve. Some of the following tasks and objectives should be included in a Business Development Manager job description, either you are working with a construction or marketing company:
- Developing growth strategies and plans
- Managing and retaining relationships with existing clients
- Increasing client base
- Having an in-depth knowledge of business products and value proposition
- Writing business proposals
- Negotiating with stakeholders
- Identifying and mapping business strengths and customer needs
- Researching business opportunities and viable income streams
- Following industry trends locally and internationally
- Drafting and reviewing contracts
- Reporting on successes and areas needing improvements
Fundamental Skills for Business Development Managers
An aspiring business development manager must possess a wide range of hard and soft skills. Communication, organizational, time management, technical and computer abilities, as well as drive and self-motivation, are examples.
#1. Communication skills
A Business development manager must be able to communicate with clients of diverse educational levels and backgrounds, this is one of the most important skills. Professionals working in this industry must have strong written and vocal communication abilities.
#2. Organizational skills
Professionals that pursue this professional path must be able to manage many clients, on- and off-site meetings, and deadlines. Individuals that are well-organized are most suited to manage the various aspects of the job and keep client proposals and other duties on track.
#3. Time-management skills
Managers of business development must learn how to prioritize their time. Individuals in this sector must be able to manage a calendar and alter their schedules as needed.
#4. Technical and computer skills
Most businesses utilize a sales content management system (CMS) to track leads and client calls, as well as to document where each prospect is in the sales cycle. Aspiring business development managers must be technically and computer literate.
#5. Drive and self-motivation
Goal-oriented and commission-driven business development managers are the most successful. Professionals with desire and motivation will strive to excel.
Why Pursue a Career as a Business Development Manager?
A career as a business development manager is appropriate for someone who is outgoing, interested in sales methods, and enjoys interacting with others. Prospecting is a task that good business development managers like, and they take rejection with grace. They see each “no” as one step closer to a “yes.” They also love being a member of a team that develops and implements a business growth strategy.
Salary of a Business Development Manager
Based on around 10,600 reported wages, the average compensation for a business development manager is roughly $67,801 per year. Salary ranges from $14,000 in the lower range to $177,000 in the upper level. A business development manager additionally earns an annual profit share of $10,000.
Aside from the tasks of a business development manager, other factors influencing pay include the industry, the geographic location of the employment, and the employee’s level of experience. It should also be mentioned that persons with advanced degrees may be eligible for a higher salary.
Business Development Manager Job Description Sample Template
Business Development Manager
[Intro Paragraph] The first thing to include in the business development manager job description is an introductory statement about the company. Give prospective candidates an in-depth look into what shapes the company, the types of employees that work there, and the goals and philosophy of the company. By putting this information up front, you will attract like-minded candidates who will appreciate your organization’s vision.Business Development Manager Job Responsibilities:
- Builds market position by locating, developing, defining, and closing business relationships.
- Identifies trendsetter ideas by researching industry and related events, publications, and announcements.
- Tracks individual contributors and their accomplishments.
- Locates or proposes potential business deals by contacting potential partners.
- Discovers and explores business opportunities.
- Screens potential business deals by analyzing market strategies, deal requirements, and financials.
- Evaluates options and resolve internal priorities.
- Recommends equity investments.
- Develops negotiating strategies and positions by studying the integration of new ventures with company strategies and operations.
- Examines risks and potentials for business opportunities.
- Estimates partners’ needs and goals.
- Closes new business deals by coordinating requirements; developing and negotiating contracts; and integrating contract requirements with business operations.
- Protects the organization’s value by keeping information confidential.
- Enhances the organization’s reputation by accepting ownership for accomplishing new and different requests.
- Explores opportunities to add value to job accomplishments.
[Work Hours & Benefits]: Talking about work hours and benefits here is an important placement because potential employees need to know what to expect if they actually get the job. This will get them interested enough to finish reading the job posting. Be specific about working conditions or requirements, including travel or remote work. Additionally, you should mention any type of special benefits that make the employer stand out, such as parental leave, dog-friendly offices, stock options, or child care.
Business Development Manager Qualifications / Skills:
- Closing skills
- Motivation for sales
- Prospecting skills
- Sales planning
- Selling to customer’s needs
- Territory management
- Market knowledge
- Presentation skills
- Energy level
- Meeting sales goals
- Professionalism
Education and Experience Requirements:
- BA in business administration or a related field
- 3 -5 years of sales experience
- Some Employers prefer holders of a master’s degree
[Call To Action]: Be sure to end your business development job description with a call to action. By including a directive, you’re more likely to receive responses to your posting. Tell job seekers exactly how to apply. For example, by clicking on the “apply” button at the top of the job post or filling out an application on the company’s website.
How to Become a Business Development Manager
To become a business development manager, follow these five stages.
#1. Acquire a foundational education.
Many business development managers hold a bachelor’s degree in business or a similar subject, and others hold a master’s degree. Coursework in business can provide a solid foundation in decision-making, data analysis, innovation, and entrepreneurship.
Additional education in communication, marketing, and psychology can introduce you to key concepts in the “people element” of business development.
#2. Gain relevant experience.
It is advantageous to have prior experience with the selling process. As an entry-level retail sales associate, for example, you might be responsible for assisting customers through their purchase decision all the way to the point of sale. Your tasks as an outside sales professional may involve reaching out to prospects, showcasing items, and gaining new customer accounts.
Strategic planning, corporate management, and successful negotiating are other important areas of experience. Consider attending a course to enhance your hands-on experience and learn advanced sales concepts and tactics.
#3. Develop technical skills.
Project management, Microsoft 365 navigation, and search engine research are technical abilities that can contribute to success as a business development manager.
Because businesses are increasingly requiring safe information systems and the effective use of data to drive decisions, you may find that specialized training in cybersecurity and data analytics provides you an advantage as a business development manager.
Furthermore, understanding customer relationship management (CRM) software might qualify you for a position as a business development manager, particularly in larger firms.
#4. Enhance your resume.
It’s critical to keep your CV up to date as you gain experience, abilities, and education. Look through job postings for business development managers to see what firms are searching for. Highlight the qualifications that are relevant to the job criteria and place them prominently on your resume.
Use action verbs to describe previous roles’ activities, and stress any quantitative consequences where possible.
#5. Find your first business development manager position.
With your skills and an updated résumé in hand, the next step is to start looking for business development manager jobs. Which ones will help you live the life you want? Which of these jobs will allow you to work on projects and tasks that interest you? What do you enjoy about the companies that are advertising for business development managers?
Take the opportunity to develop your interviewing abilities as recruiters and hiring managers contact you to book interviews with organizations.
What Does a Business Development Manager Do?
Business development managers are in charge of driving a company’s growth. They build a network of connections in order to attract new clients, study new market opportunities, and manage growth projects, making sales estimates and estimating revenue in order to meet predicted income.
What Is the Role of the Business Development?
Business development is the process of implementing strategies and opportunities throughout your firm in order to encourage growth and income. It entails looking for ways to help your company grow, identifying new prospects, and turning more leads into consumers.
What Are the Responsibilities of Business Development Assistant Manager?
Key job responsibilities include researching and identifying new business prospects for the ecosystem, as well as developing and sustaining client connections. Understand the needs of the customers and be able to respond effectively with a strategy for meeting these needs while still meeting the target.
What Is the Difference Between Business Development Manager and Associate?
Business development managers typically lead a team of associates and delegate business development responsibilities to them. Associates may contact members of the sales and marketing teams as well as managers, but they ultimately report to the business development manager.
What Is the Personality of a Business Development Manager?
The average Business Development Manager is objective and direct, preferring unambiguous facts above ambiguous feelings. The average Business Development Manager is a critical thinker who values accuracy and outcomes.
What Is the Highest Salary of Business Development Manager?
As of May 25, 2023, the average Business Development Manager salary in the United States is $133,034; however, the range frequently ranges between $115,329 and $152,855.
Conclusion
A good Business Development Manager makes himself or herself accountable for failed ventures. They also utilize failed projects as lessons to learn from in the future. Need assistance creating a Business Development Manager job description for a specific role in a construction or marketing firm? Create your next amazing job ad by using the Business Development Manager job description template above.
Related Articles
- BUSINESS DEVELOPMENT MANAGER: Meaning, Salary, Duties & Interview Questions
- PRODUCT MANAGER SKILLS: Top Product Manager Skills
- MARKETING MANAGER: Job Description, Salaries & Guide
- IT MANAGER: Meaning, Services, Salary & Resume
- PROGRAM MANAGER: Meaning, What They Do, Salary & Difference.
References
