Although a business development career path can be challenging for a starter, with time, it gets simpler and extremely rewarding. If you are starting out with a new professional business development career, you will have a lot of opportunities to explore. In case that you happen to be a college or a business graduate, careers in business development can be absolutely incredible for you.
If you want a career path as a business development manager, you will need to understand that no organization hires a manager in a business development position without past experience. Even if you have a business development degree, there is no chance to go into a manager position without prior skills and experience.
What Does A Business Development Representative Career Path Require?
As discussed that if you want a management or a closing position at the start of your business development career, there is significantly less possibility. Instead, the best option would be to start as a business development executive or a marketing executive. Apart from sales and marketing, there are plenty of career options for professionals in business development.
Business Development Career Path – What Does It Look Like?
Any typical business development career path requires you to start with either a BDR (business development representative) job or a BDE (business development executive). After gaining experience from these positions, you will need to climb up the ladder to the role of a business development manager. This will further add to your leadership experience and make you earn a spot.
Nevertheless, a path in business development is highly competitive, and you will never outperform others to get noticed. Although the business development career path has been laid out for starters, your will still need to upgrade your skills and interests depending upon the changes in the marketplace. The best part about the business development career path is that the growth opportunities are infinite here.
Business Development basically consists of pursuing great ideas, outstanding results, innovative solutions, and further growth of the organization. The principal aim of business development teams is to involve in growth activities so as to improve business processes. You will basically find out or create growth opportunities for the company and will ensure that these opportunities are creating value for the business in the long term.
Business Development Career Path – Where To Start?
Many college graduates and professionals at the initial level dream of working as a manager in business development or in a leadership position in the same. However, many fail to determine where they shall start their journey for business development.
If you want a successful career in business development, the best option for you would be to set your foot as a business development executive (BDE) or a business development representative (BDR). With this, you will be able to gain a lot of experience within a short span of time and will get a better idea of how business development works overall. This will enable you to take a step on the right path.
Business Development Career Path- Roles And Responsibilities
Business Development career options can be challenging, but they are rewarding as well. If you are competitive and have the drive enough to be a significant part of a business development team, then you are in for a treat. The following are the major roles and positions in the business development career path that you will need to know about if you want to get far in business development:
1. Business Development Representative
This is an entry-level position, along with the BDE (business development executive) role. Here, you will need to connect with prospects and do cold calling with prospective customers as well as email them to book appointments for sales. Apart from that, it also involves convincing target customers to buy products and services of the company/ client’s company.
If you start as a business development representative/ executive, you will be able to learn the process of business development pretty quickly. Furthermore, you will also be able to gain exceptional experience in a short span of time on how to interact with clients and understand their needs and demands of them.
2. Business Development Manager
As a business development manager, you will be responsible for leading different business development teams that are led by team leaders. Furthermore, you will also have the responsibility of managing and dealing with individual contributors. Moreover, you will also need to oversee other facets related to the sales pipeline.
Only an experienced person with excellent knowledge of the sales pipeline will be able to fulfill the responsibilities of the position of a business development manager. In some organizations, business development managers also need to have knowledge of finance and accounting. Hence, in many cases, management students having MBA degrees are required for these positions.
3. Business Development Leaders
After you have gathered enough experience in the business development management position, you will be able to get hired in a leadership role in business development. The job titles of such positions vary with different organizations, like the Director or VP of Business Development.
However, a role in a business development leadership position is a significant shift in the responsibility of the person. The primary focus of such a position is to find out opportunities through decision-making and using various business models to track multiple factors within the company. Furthermore, you will need to stay accountable for all the business development operations in the company.
Just because the career path of business development is highly sought after doesn’t mean that everyone can travel it. If you are sure about yourself and you like to push yourself every single day, then this path is excellent for you. Realistically speaking, at times, business development managers and leaders have to step up their game to achieve the sales and marketing targets of the company.
So, if you are not okay with a competitive environment, traveling this path is not the best option for you. On the other hand, if you are competitive and love pushing yourself every day, then traveling the business development career path is the best option for you.