What's it like to be a Business Development Manager?
Business Development Managers liaise with the sales team, stakeholders, and clients to create growth through long-term clients and sales. They supervise Business Development and Sales Executives in executing business development activities, and actively build and maintain relationships with new business leads to ensure increased revenue. Business Development Managers often work in corporations in the finance, healthcare, and technology sectors.
Tasks and duties
- Sourcing, building, and maintaining business relationships.
- Presenting business proposals to target partners.
- Negotiating business deals and contracts.
- Benchmarking the company against competitors.
- Conducting market research for partner and revenue targets.
- Creating business development strategies for products and services.
- Assigning tasks to business development team members.
How to become a Business Development Manager
Business Development Managers usually hold qualifications in management, marketing, business administration, or a related field, or may come from sales and marketing backgrounds. Strong leadership skills are necessary for the role.
Graduate with a bachelor degree in management, marketing, business administration, or another related field.
Complete an internship in the sales, marketing or business development department of a recognised company.
Apply for an entry-level position such as Business Development Associate, Analyst, or Officer.
Consider pursuing graduate studies, such as a Master of Business Administration (MBA), Master in Strategic Business Economics, or Master in Development Management.
Progress to higher positions such as Business Development Director.