If you’re interested in making a company grow and innovate, stepping onto the business development executive career path could be an excellent start.
This position involves managing and growing customer relationships, so it’s important to be able to sell yourself and your company. In addition, you’ll need to have strong organizational and management skills.
We would like to share with you some tips on how to make the transition into this exciting role of business development executive in this article.
Let’s Begin!
Every company needs a business development team; no specific field is looking for this business development executive job.
But becoming a successful business development executive takes plenty of hard work, dedication, and savvy sales skills.
However, with the right mindset and approach, anyone can make it to the top of this challenging career field.
This complete guide will explore some key steps you can take to become a successful business development executive.
So, whether you’re just starting in your career or looking to move up the ladder, read on for tips that will help you reach your goal to become a business development executive.
Who is a Business Development Executive?
A business development executive (BDE) is responsible for creating and executing a strategy to grow a company’s revenue.
This may include developing new partnerships, generating leads, or expanding into new markets.
The BDE role is essential to any company looking to scale and expand in terms of business in sales and marketing.
If you’re interested in becoming a BDE or want to learn more about this role, continue reading!
Why Do Companies Need Business Development Team?
The Business Development team is the pursuit of great ideas, innovative initiatives, and growth of business activities to improve businesses for long-term success.
And the role of Business Developers is to deal with potential opportunities. It creates valuable services/products that will benefit companies both now or later down their line-it’s all about building something worth holding on to!
Reasons to Choose Business Development as your Career?
- A job in company development allows you to demonstrate your abilities.
- If you work in business development, you will never be bored.
- You are the front gate of your business.
What else do you need to find a profession that you’ll enjoy?
Continue reading to learn more about how to become a business development executive!
Types of Job Roles in Business Development
- Business Development Intern
- Business Development Executive
- Business Development Manager
- Regional Sales Manager
- Zonal Business Manager
- Business Head
- Revenue Manager
Roles & Responsibilities of a Business Development Executive
The responsibilities of a business development executive include creating growth opportunities for your company.
They start as an associate or manager before becoming top-level management, but all levels entail the same thing: enticing new customers to join in on what you’ve got going here!
- The key to success in business is knowing when and where you should invest your time. You need a portfolio that allows for new opportunities, so following up on leads or conducting research can help establish contact with potential clients who may become your future customers!
- The importance of understanding your client’s needs before starting a business cannot be overstated.
- You should understand from the tone of your clients when you set in meeting with them and encourage potential clients to work with or discourage further interaction according to how well-nothing conflicts with their expectations!
- Close the deal and grab a challenging project by managing your sales process- Get new customers on board before they find someone else who will take their money faster than you can blink an eye!
- Build a good rapport with the existing clients regularly.
- Meeting the targets and achieving the monthly target per the company’s needs.
Skills Required to become Business Development Executive
As a business development executive, you will be responsible for growing your company’s market share and driving revenue growth. To be successful in this role, you’ll need certain skills and qualities. Here are the key requirements to becoming a business development executive.
Technical Skills
It’s no surprise that business development executives rely more on communication and relationship-building skills. These are the qualitative touches in any company, which alone cannot be quantified by numbers!
A successful person should have great quantitative abilities and these technical qualities too.
All they want to know technically is;
- PowerPoint by Microsoft
- Excel (Microsoft)
- Statistical analysis software for Microsoft Word
- CRM Software for business processing
Besides these skills, a business development executive must have a technical supporting team;
- Persuasion and presentations skill
- Skills in customer service and sales
- Research and product development
- Strong competitive knowledge
Soft Skills
Soft skills are one of the most important qualities for any business development executive. When you have to sell your company’s products or services, it helps if they’re well-selling and easy on consumers’ wallets!
Many companies are seeking candidates who would like to help grow their skillset and develop professionally through on-the-job training while still being compensated at high industry standards!
1. Project management
You should be the type of person who can take any situation and make it into your victory. Your success in sales is no exception, as you’ve been able to beat out competitors time after time again with ease.
Remember to Mention that you have a strong track record that will help to get ahead during this interview process because they want people to like you working in their firm!
2. Excellent Communication Skills
You should be the person who can get things done, and your communication skills should help you accomplish anything in any situation.
3. Meet senior’s Level of Excellence
With your consultative sales experience, you can prospect and manage senior-level relationships.
4. Customer Relationship
Understanding how customer relationship management tools (CRM tools) work and pipeline the Salesforce leads to being beneficial for the company.
5. Advanced Decision-Making And Problem-Solving
The executive’s job is to know what decisions will yield the best results and make tough calls. He must also be able to handle any crisis that might come his way, all while knowing how much pressure each decision puts on them for success!
6. Public Speaking
This professional needs to be able to use their charm and influence to build relationships with customers, clients, or potential ones.
They should also possess the confidence necessary for persuasive communication, which will help them convince others that they’re right about everything from product ideas to business strategy decisions.
Key Takeaway: Most people who get this job require skills such as communication, creativity, relations building, and active listening along with organizational abilities to manage time effectively while also being quite sociable for anything that may come their way!
You can always refer to the guidelines given above in this article about all the skillsets you need to acquire while choosing a career in business development.
Career Scope for Business Development Executive
The demand for Business Development Executives is high, so don’t wait too long before finding one.
Many talented individuals out there can help your business reach its goals.
So, how do you find the best candidate for the job? Keep reading to find out. No matter how established or small, every business needs someone to drive new business opportunities and help the company grow.
So, if you’re a business looking for a new Business Development Executive, you should keep a few things in mind.
First, make sure you understand what this position entails – it’s not just about generating leads and closing deals!
The Business Development Executive is also responsible for developing and executing marketing plans, managing customer relationships, etc.
So, before you start your search, be sure to outline the specific duties and responsibilities that you’re looking for in this role.
Once you know what you’re looking for, begin your search by posting a job ad online.
There are many great job boards out there from the following companies;
- Flipkart
- Muthoot Finance
- ICICI Lombard
- Tech MBS
- Ample technologies
- Axis Bank
- IndusInd Bank
- Lodha Rank
- FCS Software
1. Get to Right Education or Courses
Many companies are looking for people with specific skills or experience, but it’s not too late if you don’t have a degree in business-related fields. Many jobs these days require one thing: personality!
A background as a manager will give your career direction with greater chances to succeed- since most companies avoid hiring managers who have only studied how money works on paper!
A degree won’t hurt either; many schools offer degrees specific towards Business Administration or Business Studies, which cover both Management AND Marketing. If this isn’t available, try looking into other areas such as “Commerce & Trade” where there might still be some hope.
But you can go for either of these two options if you choose to become a business development executive,
- Go to any reputable college and receive a BBM or BBA degree.
- Alternatively, you can enroll in a digital marketing course and become certified to work as a business development executive.
2. Get into Freelancing
Freelancing is the best way to showcase your portfolio to become an intern or get a job in the business development field,
To do that;
- Create a website that relates to freelancing services.
- Post clients’ reviews on Linkedin and other social media.
- Mentioned your experience on the cv and make it worth looking at.
That’s it, you are ready to go!
3. Get an Internship
Looking for a job is no fun. Making applications, sending in CVs, and most of all, waiting for a response. This is why so many students try to avoid internships at all costs.
Unfortunately, they overlook an important part of the job market. Internships and traineeships are a great way to learn the ropes, get a feel for what a company is like, and get some experience under your belt.
But how do you get an internship?
Getting an internship as a Business Development Executive isn’t as easy as you’d think.
But if you know how to network, who to network with and how to get your CV noticed then you’ll find an internship.
You can always try sites like Linkedin or Internshala for getting noticed by reputed companies searching for interns for their purpose.
4. Get an Experience and Apply for the Job
There is no one-size-fits-all approach when it comes to finding an interview.
You need different qualifications for each position, depending on how experienced you are and what job they are looking for. Specifically, applicants with three years or less experience can apply.
If interested in entry-level positions without being rejected due to their lack of seniority, then take up any online digital marketing course and earn certificates to showcase your knowledge.
But companies mostly prefer those more qualified who will most likely not meet this requirement unless there’s something special about them such as communication, skillset, and technical knowledge which makes up for it.
Salary of Business Development Executive
There are many different career paths to choose from when it comes time for your next job. You could start as an associate and work towards more leadership roles, or maybe take on some project-based experience before deciding if business development is right!
The beginning steps in any profession can often feel daunting, but don’t worry because there’s always room at the top.
- Salary Of an Entry-Level Job: for business development executive careers pays an average of 15k per month or 1,74,000/year, whereas junior executive roles yield slightly higher pay at about 13-14k monthly.
- Salary Of a Mid-Level Job: for business development executive careers pays an average of 24k per month or 2,98,000/year. In contrast, mid-level business development executive roles yield slightly higher pay at about 23-24k monthly.
- Salary Of a Senior-Level Job: for business development executive careers pays an average of 45k per month or 5,45,000/year, whereas senior executive roles yield slightly higher pay at about 44-45k monthly.
This complete guide has given you a general overview of the role of a business development executive. You’ve learned about the different types of roles and responsibilities, and you’ve seen how to prepare for the job market. If you’re interested in learning more about this exciting career, continue reading!
Top 10 Business Development Course
1. 4 Months Online Digital Marketing Course – Digital Scholar
Digital Scholar is a digital marketing institution in Chennai that provides online digital marketing course.
Their “Agency Learning Approach” is a unique way of teaching that combines academic and professional learning environments, focusing on bringing to life the skills required in the working industries.
Because of its unique output, Digital Scholar can provide students with the ability to learn how to build a digital product and brands from start to finish.
Students will obtain almost all required certifications and a mentor, Sorav Jain, who will be there to guide them through the lessons given by trainers.
Also, Students will be able to cultivate their personality while they earn their certifications by working within a collaborative environment and learning in the process.
This course lasts up to 4 months and includes certification and a paid internship. Digital Scholar also guarantees 100% placement for its students in several professions within digital marketing, one of which is business development.
2. Mastering Sales: A Toolkit for Success (Kellogg School of Management)
Kellogg school of management will teach you. Whether you are new to sales or an expert, this Mastering Sales toolkit will help turn your success into a reality.
You’ll learn how better communicate with customers and prospects while developing customized approaches for each opportunity so that no matter what stage they’re at in their buying cycle;
We can get them on board! The ten modules include 30 different tools researched by some top companies around the globe who have been championing these techniques since before most people knew what e-mail existed.
3. Business Development for Startups and Tech Companies – Udemy
This course will provide you with a thorough introduction to the fundamentals of business development.
Designed by Scott Britton, Co-Founder at Troops and an entrepreneur himself who has built five successful startups in his career, this class is sure to give beginners tips and teach more experienced entrepreneurs how they can improve their skills for future projects!
4. Business Development and B2B Sales for Startups – Udemy
This course will teach you everything necessary for getting started in the business world!
You’ll learn how communication and sales skills can make your life easier, along with other important techniques like building out an efficient process of developing the business from scratch or writing professional copywriting content without any experience.
It doesn’t matter if this sounds intimidating because we’re going over all these things step-by-step, so there aren’t risks involved, just rapid progress towards success.
5. Digital Marketing: Generate Leads & Convert Them to Sales – Udemy
Look no farther than this interesting curriculum by Phil Ebiner in partnership with Eli Natoli if you’re seeking an online course that will educate you on how to create leads and convert them into purchasers.
The curriculum covers everything you need to know about running a successful startup and a thorough introduction to digital marketing strategy fundamentals like content generation/distribution strategies and branding awareness techniques, all of which are taught through video lessons on the Video School Online website.
6. IIM-Banglore
Do you want to master business development? There is no better place to learn than at IIM-Bangalore. The Institute offers an excellent course for studying business development executives.
The program is designed for experienced professionals who want to develop their skills in this area. You will learn about the latest trends and best practices in business development.
You will also have the opportunity to network with other professionals in this field. If you are serious about your career, don’t hesitate to enroll in this program. It could be the best decision you ever make!
7. IIM Kozhikode
If you are looking to pursue a career in business development, then the Indian Institute of Management (IIM) in Kozhikode is an excellent option.
The IIM offers a comprehensive business development course that will prepare you for a successful career in this field.
The program is designed for experienced professionals who want to learn how to manage and grow their businesses.
It covers all aspects of business development, from strategy and planning to execution and measurement.
Students also can gain practical experience through case studies and projects.
So, if you want to make your mark in business, the IIM-Kozhikode is the place to be.
8. MICA Ahmedabad
If you want to learn business development skills, MICA Ahmadabad is a great place to study. With world-class faculty and a range of courses available, you will be able to gain the knowledge and experience you need to succeed in this field.
Whether you are just starting or want to further your existing skills, MICA Ahmadabad can offer you the perfect program for your needs.
So if you are ready to take your business development skills to the next level, check out MICA AHMADABAD!
9. Indian Business School of Business, Hyderabad
The Indian School of Business (ISB) is a top-ranked business school in Hyderabad, India. Offering a wide range of undergraduate, graduate, and executive education programs, ISB has become one of the most respected business schools in the world.
With a focus on experiential learning, ISB allows students to learn from some of the best minds in the business.
Ranked as one of the top 10 MBA programs outside of North America by The Economist, ISB is ideal for students looking to pursue a world-class education.
Located in the heart of Hyderabad’s technology district, ISB provides students with all the facilities and access to some of India’s most exciting business faculty.
10. Indian Institute of Management in Ahmedabad
The Indian Institute of Management in Ahmadabad (IIMA) is one of India’s most prestigious business schools. Established in 1961, IIMA has provided world-class business education for more than fifty years.
The institute offers a range of undergraduate, postgraduate, and doctoral programs and has a distinguished alumni base that includes senior executives from some of India’s largest companies.
In addition to its academic program, IIMA is also known for its research initiatives, which have made important contributions to management studies.
So, if you are looking for a standard degree, take a chance at IIMA.
11. Faculty of Management Studies, Delhi
The Faculty of Management Studies (FMS), Delhi, is one of the top Indian business schools. It has a rich history dating back to 1954, established as the School of Business Administration.
In 2001, FMS became a constituent college of the University of Delhi. The faculty offers a comprehensive range of undergraduate, postgraduate, and doctoral programs in management and accounting.
It is also one of the few institutions in India that offer a Master’s in Business Administration degree specializing in Fashion Management. Alumni from FMS are well-represented in top corporate positions across India and worldwide.
So, if you are looking for a renowned college to learn business development, you should try the Faculty of Management Studies, Delhi.
Conclusion
Being a business development manager is a great job. It involves developing new partners, entering new markets, and understanding new products to generate opportunities. The business developer needs research and outreach skills to get this done like a boss!
The role of the business development manager is not an easy one. It is highly dynamic and challenging, with a high job satisfaction rate.
The annual average salary for this position ranges from $110,000 to $130,000, according to Cheatsheet Magazine, if you are even trying abroad for the same.
The company provides additional stocks and bonus options in most cases as well.
So, if you’re looking for a quick course to learn something new, check out our free digital marketing course and receive a prestigious certificate from landing a position in business development.
