Business Development Representative as a Career
Description of the Job
A business development representative’s role is to develop strategies to boost a company's sales and overall growth. They are primarily responsible for conducting research and analysis to identify clients' needs, creating business plans and products, and producing progress reports and presentations. A business development associate must also maintain a database of customer information, arrange meetings between clients, coordinate with marketing staff, and assist in negotiations.
Fast Facts
- Number of hours per weekGenerally 40-45 hours
- Average starting pay$49k Nationally, $67k in the Bay Area.
- Amount of travel requiredMay be required, depends on project or company
Roles & Responsibilities
- Conduct market research and identify potential business opportunities
- Build strong relationships with new clients as well as maintain relationships with current clients
- Collaborate with co-workers across many departments to implement growth strategies
- Assist with drafting business plans, sales pitches, and presentations
- Think strategically and ensure company objectives/goals align with the bigger picture
- Train personnel and help team members develop important skills
- Attend meetings, conferences, and industry events regularly
Skills Needed
- Strong Interpersonal Skills: interpersonal skills are needed to develop strong relationships which is a big responsibility for this position
- Proficient in Microsoft Office: Microsoft Office tools such as Excel and Powerpoint are often used within this position
- Ability To Multitask: one will usually be working on multiple projects simultaneously, so it is important to be able to mult-task to ensure all projects are completed on time
- Organization: this position juggles a lot of responsibilities and therefore it is important to have strong organizational skills
- Analytical Thinking: Business development requires one to use analytical thinking to direct organizational goals/objectives with the bigger picture in mind
- Initiative: being proactive and taking initiative in this position is key to finding new opportunities and maximizing current opportunities
Steps to Enter The Field
- A bachelor’s degree is required for a career in business development. Some common majors for this career include business administration, marketing, or a related field in business.
- Any internships or clubs that help one gain experience with project management can assist one in entering this field.
- Demonstrating sales experience/skills can help one enter this field as sales and business development have many similarities (they are both about forming relationships/partnerships)
- Pursuing entrepreneurial opportunities can help one gain valuable experience that will translate to the field of business development. One example of this would be working for or founding a student organization/company.
Landscape of the Field & Companies in the Field
- Practically any company that wants to encourage company growth has business development associates at their company.
- When looking for business development positions, people should consider which industries interest them and look for jobs in those industries
- The following link contains a list of companies in the USA that are currently hiring for business development associates. This list can help one understand the variety of companies that hire business development associates.
External Resources to Learn More & Develop Skills
- Coursera’s Top Business Development Courses: Coursera has many different courses focused on developing relevant skills in business development
- edX’s Business Development Course Catalogue: edX’s selection of courses centered on business development skills
- Speak First’s Business Development/Sales Courses: Speak First has many courses focused on the sales aspect of business development
- Investopedia - Business Development: Investopedia gives a more in-depth description of what business development entails
Related Careers
- Sales Representative, Customer Growth, Growth Marketing, Account Executive, Social Media Analyst
Informational Interviews
Agatha Goluszek
Company Name: Palo Alto Networks
Title: Business Development Representative
Years of Experience: 1
Biography
Agatha Goluszek is a Business Development Representative in the Mid Market California Region at Palo Alto Networks. She graduated from Santa Clara University in 2020 with a degree in Marketing. In college, she interned at HomeShare as a Business Operations Intern and at Palo Alto Networks as a Corporate Sales Intern.