The truth is, business development contains important elements defining each of these profound roles. As a result, business developers often feel like they wear many hats and constantly have their hands in different projects. For example, they may be simultaneously working with other departments on creating a website, trying to secure new partnerships, increasing brand awareness and making and assessing business goals. Despite their multifaceted job, business developers are guided by a single objective: to create value for their company.
What is Business Development
Business development is the process of making a business better and bigger through initiatives and new ideas, creation of value for your organization or business. This includes increasing profitability and focusing on growth opportunities by building connections with strategic partners and making calculated business decisions.
While there’s no such thing as a Herculean job candidate, one might be led to think so just looking at job descriptions for business developers. They need to be “creative, analytical, organized, possess strong communication skills, and much more.” That’s because a business developer has to be dynamic and use any one of their abilities, whether that’s brainstorming new ideas, creating business plans or making fruitful partnerships, to help their company grow stronger and better over a period of time.