In the world of business, there are so many different kinds of roles; operations management, quality control, accounting, and marketing are just a few of them.
One of the business roles that is often overlooked and misunderstood is the business developer. In this article, we’ll take a look at the different aspects of the business developer’s role, and explain why the position is so important.
Business developers are almost always focused on the growth of the business at every level. They prepare analytics for potential growth and provide support and monitoring of the growth opportunities.
They do not, however, concern themselves with the implementation of the opportunities for growth.
Taking this into account, it is not uncommon for business developers to be hired in as consultants, from outside of the company. From this vantage point, they are able to have a more impartial view of the situation, and are not involved in, or tethered to, the actual implementation.
Sales and Relationships
Sales is another aspect of business in which the business developer may participate. They identify the decision-makers within the company and try to find “missing pieces“, so they can discover unmet needs.
The developer always has their eyes on the future, and often do their best to maintain relationships with their businesses’ clients. Solid business relationships are crucial for any business, especially when looking towards the future.
Finding New Opportunities
A business developer is always trying to find new ways for the company to generate revenue. This can include exploring new markets and creating relationships with new potential clients.
They are always attempting to add to the robustness of the organization, and increase its cash flow in as many ways as possible. It is also important for them to keep their eye on competitors, and the strategies they are using.
A Variety of Roles
Unlike the areas of accounting and marketing, the business developer’s responsibilities can be greatly varied.
For instance, if the company is a large one, then the business developer may be involved in acquiring smaller businesses. On the other hand, if the company has a smaller one, and the business developer may focus on obtaining commercial accounts and working on new projects.