Depending on your company’s objective, business development can take various forms.
So, business developers do different things depending on the organization for which they work.
You’ll be responsible for conceiving and implementing new business prospects in terms of responsibilities.
As business developers, we usually develop new ideas, test them, and then scale them across departments if they work.
These are the most typical company development activities in practice:
- Investigate (market, competitors, customers)
- spotting an opportunity
- Experimentation
- generation of leads
- Outreach that isn’t warm (email, phone, social media)
- Networking
- Management of a partnership
- Management of a project
- Management of stakeholders
- Negotiation
- Closing deals.
BDMs also have to cold call sometimes, and they also have to be constantly on foot to meet potential clients and attend events where they can make a network.
Business development is an ever-growing business, and the managers have to be on their toes every time and manage their resources to generate leads and increase business sales.