What is a business development specialist and how to become one
A business development specialist is an individual who is responsible for identifying and pursuing new business opportunities to increase revenue and profits for a company. They analyze market trends, develop marketing strategies, and build relationships with clients and partners. They work closely with sales teams to define target markets and create plans to reach them.The goal of a business development specialist is to help a company grow and expand its reach in the market.
How long does it takes to become a business development specialist?
It takes 4-6 years to become a business development specialist:
- Years 1-4: Obtaining a Bachelor's degree in a relevant field, such as business, marketing, or finance.
- Years 5-6: Accumulating the necessary work experience in sales, market research, or business development.
- Salary$57,410
- Growth Rate10%
- Jobs Number182,116
- Most Common SkillWork Ethic
- Most Common DegreeBachelor's degree
- Best StateWisconsin
Business Development Specialist pros and cons
Pros
Opportunity for career growth and advancement
High earning potential with commissions and bonuses
Chance to develop a broad skill set in sales, marketing, negotiation, and relationship building
Opportunity to build a strong professional network
Satisfaction from securing new business deals
Cons
High-pressure job with performance targets and deadlines
Requires persistence and resilience in the face of rejection and setbacks
Long hours and irregular schedules may be required
Constantly having to adapt to changes in the market or industry
Requires strong communication and interpersonal skills to build relationships with clients and colleagues
Business Development Specialist career paths
Business development specialists can advance their careers by taking on managerial roles such as business development manager, director of sales, or sales and marketing vice president. They can also move into related roles such as account manager or district sales manager. Additionally, they can transition into marketing roles like marketing manager, or even become an owner or director of their own business.
Key steps to become a business development specialist
Explore business development specialist education requirements
The educational requirements for a business development specialist typically include a bachelor's degree, with the most common fields of study being business, marketing, communication, finance, and psychology. According to Dr. Michael Harvey, Provost and Dean, John Toll Professor of Business Management at Washington College, employers value evidence of projects, experiential learning, and internships in addition to formal education. Certifications such as Certified Sales Professional, Project Management Professional, Professional Certified Marketer, Certified Economic Developer, and Certified Manager Certification can also enhance a business development specialist's qualifications. Top schools for business development include Western Carolina University, University of Southern California, University of Pennsylvania, San Diego State University, and Georgetown University.
Start to develop specific business development specialist skills
A business development specialist needs a wide range of skills to be successful. They should have excellent organizational skills and be detail-oriented, as well as the ability to manage their time well. They should also possess strong communication and interpersonal skills, including the ability to work within a team and build customer rapport. In addition, they should be able to develop and implement sales and marketing plans, identify new revenue opportunities, and maintain strong relationships with corporate decision-makers. They should also be able to assess the success of promotional activities and utilize data mining techniques to improve lead generation. Finally, they should be able to create and implement effective social media campaigns and maintain a professional dress code.
Skills Percentages Work Ethic 10.25% CRM 9.12% Customer Service 7.15% Healthcare 6.42% Sales Process 4.02% Research business development specialist duties and responsibilities
Business development specialists are responsible for a variety of tasks, including creating presentations, scheduling appointments, and partnering with business development managers. They also organize community events, manage the entire proposal development life cycle, and maintain a positive work ethic. They also work with Salesforce, improve sales revenue, and assess promotional activity. They work with customers to provide excellent customer service, identify new revenue opportunities, and foster and maintain valuable working relationships with potential and existing accounts. They also develop and implement sales/marketing plans for company product/service offerings.
- Utilize a number of sales tools such as SalesForce to manage pipeline.
- Develop and manage all SEO, SEM, and all social media platforms and authore all content.
- Manage and coordinate a successful implementation of a cloud-base ERP system.
- Manage logistics, control engineering and design, order placement, vendor relationships, customer utilization and technology.
Prepare your business development specialist resume
When your background is strong enough, you can start writing your business development specialist resume.
You can use Zippia's AI resume builder to make the resume writing process easier while also making sure that you include key information that hiring managers expect to see on a business development specialist resume. You'll find resume tips and examples of skills, responsibilities, and summaries, all provided by Zippi, your career sidekick.
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Apply for business development specialist jobs
Now it's time to start searching for a business development specialist job. Consider the tips below for a successful job search:
- Browse job boards for relevant postings
- Consult your professional network
- Reach out to companies you're interested in working for directly
- Watch out for job scams
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Average business development specialist salary
The average Business Development Specialist salary in the United States is $57,410 per year or $28 per hour. Business development specialist salaries range between $38,000 and $85,000 per year.
What Am I Worth?
How do business development specialists rate their job?
Business Development Specialist reviews
Cultivating relationships with customers and accessing customers needs , I like solving their problems with the product or service that I am pre selling to them before passing the lead to a sales executive.
I am passionate about my role as a BDR and there is nothing that I don't like. I don't like to be put in a box so to speak I enjoy reaching high and don't like to limited.
Innovating a business model is key for a profitable business and growth. Without a proper and sustainable business model, even the best product or technology innovations will not flourish. Learn the skills and knowledge needed to start improving your business as you learn through real-life examples from fellow entrepreneurs, innovators and leading experts on business model innovation. Benefit business owners, entrepreneurs, business consultants or business developers who seek better understanding of business models and the tools to develop them.
There's nothing much not to like about this role.
Learn about many businesses and help to improve business profitability with mergers and partnerships.
Updated April 25, 2024
