What does it mean to build a business? Essential Skills and More
During your job hunt, did a title like “change manager” pique your interest? There was probably a job ad where you were asked to “drive solutions and overall performance.”
If a job posting includes any of those phrases, even if the title doesn’t specify, it’s probably a business development position. Trying to pin down exactly what a business development professional does can be difficult.
The thing is, different companies organise their hierarchies and developer responsibilities in different ways. While each business development position is unique, there are some shared responsibilities. Take advantage of this summary to learn more about careers in business development.
Understanding Business Development Careers
In all seriousness, the first thing you need to know is that the primary focus of any business development role is expansion. In the case of some businesses, this means exploring untapped markets. For others, it may entail seeking out new business alliances or methods of generating additional income.
Some companies’ business development teams are structured in a way that prioritises strategy while others prioritises implementation. Although each business developer position is unique, you’ll find that there are some core responsibilities shared among them.
— Business development responsibilities
Business developers are responsible for expanding either the company as a whole or specific divisions within it. Typically, they will do this by establishing connections with prospective customers and partners.
Most businesses have their business developers conduct extensive market research to identify unmet needs among their target demographic. They might then share this data with marketing or the product development team.
— This is what it might look like in practise:
When a software development company notices a decline in sales, the business developer will likely use a combination of market research and customer feedback to determine the cause. Perhaps they will discover that the software is feature-rich, but that many of the tools it provides are unnecessary. These additional features likely increase the price of the software, which in turn reduces its demand.
Having found the hole, the business developer will likely share it with the product development group so that they can design a more efficient and cost-effective solution. After that, they’d probably coordinate with marketing to roll out an updated social media and sales campaign.
The company’s business developers can be thought of as its project managers, with the company’s successful expansion and alliances falling under their purview. Business developers need to be able to effectively communicate, conduct research, and negotiate deals. They will also need to be knowledgeable about the products and services their company offers in order to effectively promote them.
— Prerequisites for a Career as a Business Developer
Business developers are often encouraged to begin their careers in customer-facing fields like sales or marketing. A business development professional may be expected to have a bachelor’s or master’s degree in business administration (MBA) or a related field, depending on the company’s size and industry.
Do you hope to pursue a career in technology? If so, you’ll need to bring your business savvy and expertise in software development to the table.
— Business developers have the option of working flexibly.
Do you wish you had more leeway between work and personal life? If so, maybe you should look into changing careers. Thanks to advancements in communication and computing, business developers now have a wider range of flexible employment options than ever before.
While doing so, you may also discover that more businesses than ever before offer flexible schedules for business developer roles. And if you’re thinking more along the lines of an entrepreneur, you’ll find that freelance opportunities do exist, albeit at a lower frequency than permanent positions.
Who is looking for adaptable business developers?
You can find a business development position in your desired field, whether it’s software development, sustainability, or healthcare. As expansion is a necessity for every business, working in this field is a great option for those looking to move jobs in the future.
Getting Started in Business Development as a Profession
If you like a good mystery and coordinating solutions, a career as a business developer could be a lot of fun.
Do you feel you have what it takes to become a business developer? FlexJobs is here to assist you. Many organisations are actively hiring for business development positions and provide extensive opportunities for customization of one’s work schedule.
Learn more about the benefits of a FlexJobs membership and how it can help you find a business development position by taking the tour.