- 1 Profession as a business development manager – working in business development
- 2 Definition of “Business Development Manager”
- 3 What prerequisites and skills are necessary for working as a business development manager?
- 4 What are the tasks of a business development manager?
- 5 How much does a Business Development Manager earn?
- 6 How do I apply to be a Business Development Manager?
- 7 Conclusion
Profession as a business development manager – working in business development
The Business Development Manager analyzes changes in the economic market, makes forecasts for future developments and new trends, designs new business strategies and maintains an overview of the company’s finances and business law.
EnİyiMeslekler shows you which tasks a management consultant has, which skills he should bring and what his salary looks like.
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Definition of “Business Development Manager”
The Staufenbiel Institute defines development management as the constant development and implementation of new business ideas. As an interface, he maintains the relationships between customers and companies for mutual benefit.
But what exactly is a Business Development Manager? A business development manager takes on all leading tasks for the successful further development of an “economically oriented organization”. In order to be able to continue to lead a company well in the future and to satisfy and retain loyal customers. Applications of technical understanding, competence in marketing and sales, as well as keeping an overview of price calculations are necessary in order to carry out a market analysis that is as meaningful as possible.
“You ask yourself: How do I become a Business Development Manager?”
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What prerequisites and skills are necessary for working as a business development manager?
This profession is very diverse and is used in many industries. Anyone interested in the field of industry, construction and pharmaceuticals will definitely find what they are looking for here. But electronics, technology or finance are also often looking for new, competent lateral thinkers. It is important to have the required business skills that are required for the business development manager.
Training as a Business Development Manager:
In order to be able to take up the profession of Business Development Manager, one usually needs a university degree in business administration or economics. Since this profession has not yet been standardized, other paths are not excluded. However, it is not a training occupation. Due to the international orientation of the Business Development Manager, knowledge of English is desirable.
Furthermore, these competencies are divided into must and can competencies, i.e. those that companies definitely require (must) and those that are desirable but not mandatory (can).
- Strategic competencies
- Analytical skills (of markets, customers and competitors)
- Good English knowledge
- Communication skills
- Marketing and sales knowledge
- Goal and result oriented
- A feeling for economic influences and new trends
- Customer focus
- Organizational skills
- Presentation skills
- Intercultural competences
Business development managers have to convince with their professional background and their strategic decisions. Not least because their decisions often have cross-departmental consequences. You often work closely with key account management and online marketing.
What are the tasks of a business development manager?
The tasks of business development are just as diverse as the industries in which the business development manager finds himself. As a business development manager, you are responsible for finances. Together with the headquarters, price calculations and business plans are created. One of the main tasks is securing market share, acquiring new customers and long-term business partners. For this task, well-founded specialist knowledge and methods of the business development manager are required. Since you always want to be at least one step ahead of your competitors, innovation and creativity also play a decisive role.
You cannot define a precise daily routine, as there is a business development manager in every industry and in every professional field. However, one thing is the same for all tasks in business development management: using analyzes and business plans to position itself as a strong company in the economic markets in the future and to act as an interface between companies and loyal customers they have gained.
How are market opportunities recognized? Which analyzes are carried out?
The basics and tools for market analysis are already taught during training.
Some tools are used to analyze the market economy and to identify opportunities and possible risks as quickly as possible. During the SWOT analysis, the business development manager is given an overview of the strengths, weaknesses, opportunities and risks of their own company. Which should serve as an aid for the development of further strategies. In the Ansoff matrix, markets and products are divided into new and existing.
How much does a Business Development Manager earn?
The average starting salary of a Business Development Manager is between $ 42,000 and $ 94,881. Just as the day-to-day work of a business development manager can be very different, salaries can also vary extremely. Here you can orientate yourself towards the industries in which you want to work as a business development manager. The average starting salary is between $ 42,000 and $ 94,881. However, the opportunities and development opportunities are very high.
Here you can find out more about the starting salary and salary development as a Business Development Manager.
Summary > Business Development Manager:
How do I apply to be a Business Development Manager?
Business Development Manager is a responsible position that requires a lot of knowledge in marketing and sales or management consulting. The business development manager profession requires not only the technical qualifications that are imparted in an economics degree but also numerous soft skills.
Accordingly, it is important to show in an application that you are the right candidate for the advertised position. A job as a business development manager can often be found internally, as the company is already convinced of your specialist knowledge and trusts you to be more responsible. Either way, you should avoid using empty phrases in your application and specifically underline your personal skills with examples.
When writing an application, you can already demonstrate your communication skills, which is an important core competency as a business development manager. Your application should be targeted and appealing, as your job as Business Development Manager requires. So make it clear to whom the application is directed and why you are particularly convincing for this job. Your leadership and social skills should also particularly stand out, as they form the basis of a business development manager.
Tips for applying to become a Business Development Manager after training:
If you have already set priorities in your academic training to become a Business Development Manager and have concentrated on very specific tasks, then place a special focus on this in your application. In the application, concentrate on what suits you and the training content that you would like to continue to deepen later
The business development manager has a multifaceted job. In the following we have the most important information for you at a glance:
- The Business Development Manager analyzes the changes in the economic market and, as a result of the market analysis, takes on all managerial tasks for the further development of an “economically oriented organization”
- The profession of business development manager is a study profession that you can start with with a degree in business administration or economics.
- Analytical skills, a focus on goals and results as well as knowledge of marketing and sales are essential. Competencies such as the ability to work in a team and customer-oriented work are also helpful.
- On average there are 10-20 applicants for one position.
- Depending on the company, professional experience and skills, the salary range is between 45,500 $ and 126,500 $.