So you want to be a business development manager?

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Business development managers (BDMs) are increasingly in demand as organizations ramp up their efforts to gain market share and expand.

Business development is a combination of strategic analysis, marketing and sales with the objective to grow the company’s business by establishing new partnerships and increasing sales from existing accounts.

 

What does a business development manager do?

The first aspect of a business development professional's job is typically to identify new business opportunities - new markets, new partnerships, new ways to reach existing markets, or new product or service offerings to better meet the needs of existing markets - and then to go out and exploit those opportunities to bring in more revenue.

How that happens exactly depends on the industry. It can be a combination of attending events and networking, participating in exhibitions and conferences, cold calling, and responding to incoming leads. They also look for partner opportunities to cross and up sell services.

What skills do I need in order to become a business development manager?

"To be a successful BDM you first need great sales skills. This includes confidence, planning and strategy skills. Knowing your products, company and industry is also key." - Simon Bromwell, Managing Director.

To analyze potential new business opportunities to pursue, you'll need excellent quantitative and analytical skills. You'll also need developed people, communication and negotiation skills. Honesty and integrity are valuable attributes to have, as people are more likely to do business with someone they already trust.

Which qualifications do I need to become a business development manager?

There are no standard qualifications to become a business development manager. As with many sales roles, experience and natural ability are the attributes of the most successful BDMs. However, there are business development diplomas and business certificates you can earn at private colleges. An aspiring BDM can also undergo sales training.

Business development is a combination of strategic analysis, marketing and sales with the objective to grow the company’s business by establishing new partnerships and increasing sales from existing accounts.

How much can I earn working as a business development manager?

To see typical salary levels for Business Development Managers in the United States, download the US version, or download the new app for Apple or Android devices. 

Start your sales and marketing job search today.

For more information, please contact:
Simon Bromwell, Managing Director (San Francisco)
simon.bromwell@robertwalters.com
+1 415 549 2000

Nick Louca, Vice President - Commerce (New York)
nick.louca@robertwalters.com
+1 212.704.9900

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