5 Key Skills of a Business Development Manager

June 14, 2019

Business Development Managers (BDM) are the driving force of any company or brand. A successful BDM will identify potential sale opportunities, leads and much more. All the while maintaining strong relationships with existing customers and creating relationships with new clients. Clear planning and communication is key for any BDM to carry out their job effectively.

Negotiation

Negotiation is an extremely important skill when it comes to business development. BDMs must know their goals and their limits. It is essential in their role to know when it is the right time to compromise and the right time to stick to their guns. Being able to negotiate is pivotal in order to persuade businesses and potential clients to use their services or products.

Research & Strategy

Another essential skill in business development is research and strategic analysis. This is key to keep the company ahead of competitors and to be able to predict trends in the market.

Project Management

In more ways than one BDMs manage a lot of projects. Their role involves a lot of calculating: budgets, costs, time and managing teams to get the best productivity out of the process, their teams and themselves. BDMs usually have more than one on-going project which means project managing is important in their job.

Business Intelligence

Any effective BDM will know exactly what products and services their company provides and will constantly analyse the market to configure ways to improve the company’s place in said market. Staying up to date with the economy to identify any issues that may affect the company.

Customer Understanding

A BDM finds themselves in a great place to learn and understand their customers and demographic. For a BDM t make the best impact they can, it is essential to learn what their customers needs are now and also what their needs in the future will be. This in turn helps them to plan for the future and adjust effectively.

Here at Garraton Hoey we are looking for Business Development Managers, if you would like to start on the next step of your career contact us.