The term “Business Development” can mean entirely different things to different people at different companies. In general, Biz Dev is a mix of sales, strategy, and relationship management. It’s how organizations generate new business by seeking opportunities that demonstrate big potential to drive growth and add long-term value. Core functions of this field include planning and implementing strategic partnerships, project management, brand development, customer relations, and event planning.
Whether you're selling your company’s services or pitching the idea of partnership, business development roles usually involve some element of sales. (So, being a “people person” is important). Biz Dev specialists are skilled in winning over decision makers by getting to the root of their needs and communicating how their organization can be valuable in meeting them. From market research and competitive analysis to strategy development and writing proposals, these self-starters are collaborative, detail-oriented, and good at juggling fast-moving projects. Not your typical desk job, business development may involve a lot of time outside of the office.
Excited about playing a key role in shaping a company’s growth strategy? This field could be for you!
Recruiters are looking for masters of these skills when they hire great people for Business Development positions:
The salary range for a business development role depends on work experience, specialty and location. Glassdoor cites the national average for a business development role is $60,000, but it’s common in business development roles to receive bonuses from profit sharing or commissions.