The key responsibilities of a business development manager are to grow and develop an economic enterprise. The methods include assessing the market opportunities and target markets. The profile of the business development managers includes the following:
- Gathering customers and competitors
- Generating leads for probable sales
- Following up on sales activity
- Formal proposal writing
- Designing business models
The academic qualifications of the development manager should ideally focus on the management related areas. If you are in high school, it is best to focus on subjects such as economics and math. For a bachelor's degree, you can consider finance, economics, marketing, and management. It is best to focus on the subjects such as finance and marketing, as these help you in anticipating the trends of the market. Business Tech entrants are also encouraged in this job type with knowledge in industrial products.
Some of the key skills of the business development manager are the following:
- Evaluating a business and assessing its potential
- Using tools and parameters such as marketing, sales, information management
- Customer service
Training as a business development manager is helpful since it gives you an exposure to the trends and possibilities of the circumstances and if the situation requires management, you will know how to handle it. Associate colleges in your neighborhood also offer courses for business development and you can safely enroll for some of them. Good training will make you reliant on the knowledge of practice and management.
Getting a job as a marketing or sales associate will be helpful in becoming a successful development manager. This is because there are employers who look for candidates with a couple of years' experience for better delivery of skills and expertise. Considerable experience in the field of sales is also required as it is one of the driving forces that make a strong and organized negotiator in the process.
The global career prospects of the business development manager according to the United States Bureau of Labor Statistics are good until the year 2014. This is a job that has ample scope with the markets growing. The job profile of the business development expert includes working for around 45 hours per week, along with night as well as weekend shifts.
The median salary for the business development manager per year is estimated to be around $40,000 to $120,000. In fact, when you are joining on a new graduate scale, the salaries touch the lower limit which is between $25,000 and $30,000 a year.
The development manager is expected to follow a team based approach and work in coordination with others for pursuing certain common goals. In fact, they are the ones who are responsible for bringing about a radical new approach in the implementation of the policies of the organization. The organization can thus benefit from the services of the business development manager by optimizing their resources through tactics such as innovative marketing as well as rapid exploitation of the changing needs of the market. The key requirements of the development manager also take into account making use of creative processes and techniques for dealing with the market situations and conditions in the best possible manner.
