What's it like to be a Business Development Director?
A Business Development Director is responsible for finding ways to grow a company and drive sales. Typically the face of the brand in partner, client, and public relations, they identify key sources for expanding brand presence and maintaining relationships with existing partners. They spearhead business development teams, leading the business development manager and executives. Apart from qualifications, the role typically requires excellent communication, negotiation, and interpersonal skills to excel. Business Development Directors work at corporations in nearly all industries.
Tasks and duties
- Developing a business strategy to share with stakeholders.
- Setting and leading the implementation of business development goals.
- Evaluating results of business development activities for improvement.
- Managing current and prospective business relationships.
- Negotiating business agreements to expand company market share.
- Researching trends and competition to identify threats and opportunities.
- Operating Customer Relationship Management (CRM) software.
How to become a Business Development Director
Around 5-10 years of experience is required to become a director in any industry. Business Development Directors typically come from sales and marketing backgrounds, although they may also have relevant expertise in a specific field (i.e. tech). Having a postgraduate degree and a large business network may be an advantage.
Graduate with a bachelor degree in management, marketing, business administration, or another related field.
Apply for an entry-level position such as Business Development Associate, Analyst, or Officer.
Progress to mid-level positions such as Business Development Manager or Business Development Executive.
Consider pursuing graduate studies, such as a Master of Business Administration (MBA), Master in Strategic Business Economics, or Master in Development Management.
Gain many years of experience in business development or your industry of specialization.
Constantly find and maintain networking opportunities to expand your business relationships. This can be done by introducing yourself at business events and getting people’s contact details, keeping in touch with previous clients, and joining professional organizations.