The job description of a Business Development Manager varies widely from job to job; however, there are a few job duties that never change. The job purpose is also one that very rarely differs.
The Duties and Responsibilities of a Business Development Manager
The purpose of a Business Development Manager is to locate, develop, define, negotiate, and close business deals. These business deals vary widely from one business to the next, but the concept of the Business Development Manager remains the same.
There are many parameters in which the Business Development Manager’s job description is defined. One major aspect of a Business Development Manager’s job description is identifying trendsetting ideas, identifying investors involved in these ideas and contacting them. It is also within the Business Development Manager’s job description to locate and propose potential business deals to new partners, contact new business contacts and explore new business opportunities through these contacts.
Screening potential business deals means a Business Development Manager must analyze current market strategies, deal with any conflicts that may arise as well as have established solutions for these issues. While undergoing these actions, a business partner’s needs and goals can be easily accessed.
One of the most important items in the job description of a Business Development Manager is the confidentiality of projects, clients, and valuable information. In any business, this is important; however, a Business Development Manager will not keep his job long if he shares any information regarding the company client’s, projects, and financial obligation.
Benefits of Education
Although it’s not considered a job description of a Business Development Manager, furthering their education is a huge responsibility. This can be done in a variety of ways. The reading of magazines, articles, and periodicals concerning Business Development Managers and current news in their respective industry is not only the easiest but best ways to stay up on current trends and topics.
Correspondingly, professional organizations often host seminar and conferences for Business Development Managers – another way to create new professional relationships. Many companies will offer incentives to their employees for participating in continuing education courses.