Business development is essential for every organization in terms of expanding its clientele. It involves tasks and methods to create and implement growth opportunities in an organization. As a result, Business Development Executives are responsible for coming up with ideas that add to a business in one way or another. As per the Business Development Executive job description, they are senior sales experts who aim to acquire new customers as well as sell more products to existing customers. Hence, the demand for skilled Business Development Executives is high in every sector, even non-profit organizations.
Role & Responsibilities
The Business Development Executive job description defines that their role involves immense coordination between different teams to get everyone on the same page. Furthermore, this ensures that all the teams are working towards one parent objective. Usually, a Business Development Executive occupies a senior-level role in the company they work with. This means they are responsible for numerous things, like:
- Building relationships with present and potential clients.
- Identifying and creating new business opportunities.
- Create and maintain a proposed client database.
- Generating a sales goal for the team and ensuring they are met.
- Understanding client needs as well as offering impeccable support.
- Arrange meetings between potential clients and senior management.
- Excellent knowledge about every product the company is offering.
- Developing business proposals.
- Making outbound calls to existing clients to close sales.
Qualification & Skills
Business Development Executive is that one job role where your ability to sell will be given preference over your possession of a degree. For junior roles, a graduate with smart selling skills and a presentable personality can get in. However, many organizations might want a degree. Hence, a degree in business or maths is your best option. Moreover, to get to the executive level, many candidates are promoted from their existing jobs. Mainly, these candidates have a sales and marketing background. As per a Business Development Executive job description, a candidate must have the following skills:
- Strong communication skills
- Fluency in IT functions
- Good with numbers
- Exceptional knowledge of the current trends in the industry
- Remarkable interpersonal and leadership skills
- Great time management and analytical skills
- Ability to influence clients and goal-oriented
- High attention to details
- Proficiency in Microsoft Office (especially Excel and PowerPoint)
- Ability to work under pressure and meet deadlines
- Superior presentation skills
The career of a Business Development Executive can be challenging. However, the perks that this job role offers are neverending. If you know how to market yourself, you can sell anything. Besides, you get to travel to new places, meet new people and build a corporate network. Moreover, this job will offer you ample growth opportunities. In terms of your cooperate ladder, here is a set of opportunities that follow once you become a BD Executive:
- Business Development Manager: Once you have gained enough experience as a Business Development Executive, you can be promoted (depending on your work performance) to a Business Development Manager. A Business Development Manager mainly adheres to the same responsibilities as an Executive but on a macro level.
Find the list of more than 25K business development manager jobs in India here.
- Business Development Director: A Business Development Director is responsible for driving a company’s business to new opportunities and increasing its revenue. They propose and produce strategic plans for building partnerships in the industry. The Director is accountable for leading the team of managers who report directly to him.
- Vice President Of Business Development: Vice President of Business Development oversees the building of new business partnerships. They are responsible for negotiating contracts and executing strategies that will increase the sales of a company. Moreover, VP Of Business Development reports directly to the CEO of the company.
A standard salary structure for a Business Development Executive falls between 2.8-3.0 LPA. This comes to an average of 23-25k per month. However, some organizations might offer a package of up to 3 LPA as well.
Learn how to negotiate a salary here.