Discover What a Business Development Professional Does
Do you know what a Business Development Professional does? This job title may seem vague and confusing, but don’t worry. In this article, we’ll explore the role of a Business Development Professional, the skills and qualifications required for the job, and the benefits of hiring one.
What is a Business Development Professional?
A Business Development Professional is responsible for identifying new business opportunities and developing relationships with potential clients or partners. This can include market research, lead generation, and sales strategy development. The goal of a Business Development Professional is to generate revenue and growth for the company they represent.
The Qualifications Required to be a Business Development Professional
To become a successful Business Development Professional, you typically need a bachelor’s degree in business, marketing, or a related field. Additionally, experience in sales or customer service industries is crucial. Strong communication skills, negotiation abilities, and a strategic mindset are also necessary for this role.
How a Business Development Professional Can Help Your Company
Hiring a Business Development Professional can benefit your company in numerous ways. By identifying new business opportunities, they can help your company expand into new markets and diversify revenue streams. They can also help improve brand awareness and increase client retention rates by fostering stronger relationships with current clients. Overall, a Business Development Professional can accelerate your company’s growth and boost revenue.
Real-World Examples of Business Development Professionals in Action
Let’s take a look at some real-world examples of Business Development Professionals in action. One of the most famous cases is that of Kevin Systrom and Mike Krieger, the co-founders of Instagram. Back in 2010, Instagram was just a startup with zero revenue. However, they hired a Business Development Manager who helped them to forge relationships with popular social media platforms like Facebook and Twitter. This led to a significant increase in users and revenue, ultimately leading to a successful acquisition by Facebook.
Another example is that of John Egenes, a Business Development Manager at Lockheed Martin who identified a latent demand for unmanned aerial vehicles (UAVs) or drones in the commercial sector. Under his guidance and strategic planning, Lockheed Martin developed and marketed their own line of commercial UAVs, generating substantial revenue for the company.
Conclusion
In conclusion, a Business Development Professional is a crucial role for any business looking to increase revenue and expand their organization. By identifying new opportunities, building relationships, and implementing strategic planning, a Business Development Professional can guide your company to success. If you are considering hiring one for your team, make sure to enlist an expert with the suitable skills and experience.
