In business, many vital positions determine the company’s way in the future. Have you heard about the business development department? Well, it is okay if you haven’t heard it yet. Here, I would try to tell you about a business development job description. So, you will understand more about it.
The Meaning of Business Development
In short, the main business development job description is to hold a responsibility to grow up the business. Therefore, they usually taking care of new customers and serve them with good treatment. This means business development is important for the company’s growth.
Responsibilities of the Business Development
The next part of the business development job description is about their responsibilities. There are 4 main responsibilities for them and sometimes it can be more.
1. Identifying New Sales Leads
This is the first business development responsibilities. They should be smart for reading the market of the company’s products. Also, they need searching for potential customers and attract them to be new ones. Besides, they should calculate how much the company should make its products. If it goes wrong, many products will be wasted and the company will have a loss as a result.
2. Build a Company’s Development Plan
The business development should research many segments to know where the company will be going. Making a plan for the company isn’t that easy. They should watch many factors and then decided how to faced them. In other words, they should align the market needs in the future with the company’s products. As long as the business development plan working well, the company also will grow up.
3. Research about the Company’s Development
Business development has a job to keep seeing how the company going. It means, they should keep watching and calculate data about the salary, incomes, and so on. You can see something goes wrong or work well from that data. For example, the salary gives a bad result and can’t reach their target. As a result, you can do an evaluation and doing improvement in that sector.
4. Updating the Knowledge about the Competitors
One company can’t hold one business field as the only one. There must be available many competitors that can inhibit the company’s growth. As a result, it is important to update the competitor’s development. Business development holds an important role to do this. Because they also have a responsibility to decide where the company will be going and what will they do next.
Business Development Skills
Business development as an important part of the company should have good skills. There are available 3 main skills for them. First, they should socially adept. They will enter much social life to take the data. The second one is good with numbers. According to how big their working area, they can’t handle it alone. That’s why they should be able to work together. The last one is they should be able to negotiate well. It is to make sure the company holds the profit.
So, these are my explanation about the business development job description. You had known it and you can’t underestimate the business development again. Getting interested to be one of the business development? Then try to improve your skills and good luck!