Jobs & employment blog

The world of work is a constantly evolving environment where the smallest advantage can give one candidate the edge over another. For this reason, here at Hays, we pride ourselves on providing as much guidance with potential placements as possible. Our expertise can help make the difference when it comes to your future steps along your chosen career path. Here, in the following article, we are going to look at exactly what makes a good business development manager.

What is a business development and what is a business development manager?

A business developers’ central responsibility is to develop the business side of a company. To maximise a company’s returns, new business must be developed by generating leads, and at the same time, long-term client relationships must be maintained for prospects. The central tenet of business development is identifying new opportunities to help increase turnover and realise maximum profits.

What does a business development manager do?

The development manager’s remit is to help a company become as successful as possible. To succeed involves a mixture of soft and hard skills as well as having great business knowledge. The need to evaluate current performance and then improve the business potential of a company is at the heart of the development manager’s role.

How to be a good business development manager

So, exactly what makes a good business development manager? The first crucial skill to possess is great interpersonal communication. You will meet with stakeholders. You will have to speak with potential new clients using cold calling. Strong interpersonal skills are essential to persuade people to embrace change which always creates a certain amount of resistance. Having empathy and being aware of when not to push too hard are also soft skills needed for the role.

What skills do business development managers need?

Teamwork and collaborative skills are a prerequisite for successful development managers. You will need to work well with others from both inside and outside of the business navigating the politics and conflicts that arise. The BDM needs to build stable working and client relationships to garner influence over every existing and potential project.

As just mentioned, part of the business developer’s remit is to carry out different scaled projects. So, knowing how to manage projects is essential. They need to set objectives, plan and then manage the teams working on the projects. Abilities in budgeting, costing and risk-management also make up this role.

Another important aspect on how to be a good business development manager is to possess superior negotiation skills which become very important when dealing with potential prospects. The same can be said for interactions with stakeholders – respect and patience when discussing new income concepts being a good example. As a BDM, you will know how to be diplomatic and compromising, or to stand firm when needed. This requires a firm understanding of tact and discretion that can take some years of working in an industry to gain experience.

Research skills are used by business development managers to investigate and benchmark the competitors in the same sector. Client satisfaction surveys and database analysis using meta data research techniques can provide invaluable information to the BDM. Strategic analytical skills can then help the development manager plan on how to stay one step ahead of the competition. Customer relationship management software is often used by companies to monitor their client base and the development manager will need to have a high level of competency using these IT tools. Experience using the Microsoft Office Suite in a professional capacity is indispensable in the position.

Successful business development managers are always looking for that competitive edge. Having a profound knowledge about your industry will help you stay ahead of the competitors in the same sector. Knowing as much as possible about the competition gives you that edge and is what makes you a good business development manager.

The Learning and Growing Process Never Stops

So, how do you go from being a good business development manager to the best? You need to continue learning. Happy to design and carry out market and client analysis, the business development manager is driven to find a way to help their company improve their profit potential. If you are always pushing your learning curve, then you have one of the traits that can help make you a great development manager.

Problem solving and creative initiative are practical skills that can separate the good business developers from the great ones. Existing systems may need improving and good BDMs will do this, but great BDMs will create new ones to replace them. If they don’t exist, they will invent them.

One of the last attributes that great business development managers need is a thick skin. They drive change and are happy to push boundaries and people when necessary, even though they know they will face negativity. In many cases, there will be a need to change parts, if not all, of a settled company culture. This takes a certain strength of character and self-belief.

Interested in becoming a business development manager? Reach out to us at Hays and we will be more than willing to assist you in any way possible.