Even within the general constraints of the business development function, roles can vary dramatically from one organization to the next. Just because you had the title before doesn't mean your next role will look similar at all. Learn the kinds of questions you should ask to understand what may be expected of you.
- Depending on where you work, your role…in business development could look very different.…In many organizations, sales is called business development.…Organizations use this naming ploy for a couple of reasons.…First, because they believe prospects are more likely…to talk to someone with a title…of Business Development Manager than they are to talk…with someone who's just a sales associate.…No one wants an unsolicited call from a sales guy.…But lots of people are interested in opportunities…to develop mutually beneficial relationships.…
The second reason for calling sales biz-dev…is as an internal signal to focus on building relationships…for future business, rather than just…focusing on short term sales.…This kind of approach is very popular now…and has grown with the rise of consultative selling,…and solution selling.…A lot of big consulting firms have business development…people who might be researching the possibility…of adding a new line of business.…Like innovation or design thinking.…
As part of their research, they might interview…
Business development teams identify areas of opportunity: new products, new markets, new partnerships, and new distribution channels. It's critical to start with clear objectives. Are you using business development (BD) as a marketing tool, a sales channel, a source of innovation, or a corporate development hub? Management consultant Robbie Kellman Baxter shows you how the best BD professionals identify and build momentum for new initiatives. She also gives you the insight you need to launch a BD function in your organization, explains how to manage a BD team, and shares how to scale the BD function as your opportunities grow.
- Define business development.
- Explain the purpose of business development.
- Distinguish business development from other functions.
- Identify the skills and personality requirements for a business development role.
- Measure business development performance.
- List options for organizing a business development team.
- Describe how to make business development relevant at the C-level.