Business Development Manager
As a Business Development Manager, innovative business strategies should be created, conceptualize, and develop to meet marketing opportunities that can bring immeasurable changes to the organization. Managers should be equipped with intelligent gathering procedures of marketing ideas that have the power to generate leads which in turn can bring possible sales. When it comes to initiating business model designs and sales activities, information management is done to hit the targeted market.
Another aspect of such career is to understanding the market, including the competitors and customer behaviors, since managers simply have the skills and qualities of a real economist. Yes, through the skills and considerable experiences gained in marketing and business administration, managers know that exploiting business opportunities is the biggest deal they could possibly acquire.
In this economic downturn, managers feel the urgent need for radical and ground-breaking approaches in managing teams from various business operations and departments. At every point, the objective to develop new sources of revenues is executed especially in launching new products and services that will be introduced in the market.
The marketing power and skills that every Business Development Manager has are a result of their seamless creativity and confidence in pursuing business goals. Every decision-making process done is grounded with the desire to stabilize or improve the current condition of the organization in the industry.
The sales experience and know-how of managers in business development are a strong indication of their responsiveness in any economic trend, currency fluctuation, government policies, and customer acknowledgement toward new business researches and sales strategies being implemented in the market.
Business Development Managers are the most influential when it comes to motivating equally creative members of the organization especially in pursuing new ideas. Their instinct in determining and eying a good idea is to the highest level so they can immediately create proper judgment about something that can be developed into a great idea. What is normal to other people can be interesting to them since they know how to deliver simple ideas attractively and impressively as it can possibly turn out into a very enticing idea to the targeted market.
As for their responsibilities within an organization, they are tasked to investigate and study economic conditions. This way, they can formulate strategies that will favor the organization’s business operations or spark a new trend that will fight any threat of competition.
They also make sure that the financial resources of the company are well-accounted for. They also deal with circumstances that can possibly lead the company to business expansion by establishing more networks within the industry from which the company belongs.
As for their compensation, Business Development Managers in the United States has a median salary of $95,503 and this may vary based on the industry being served, credentials, years of experience in such line of work, educational achievements, trainings attended, and other related qualifications.