Business Development Manager
A business development manager (BDM) is the person in charge of generating new business for a company. Essentially a sales professional, a BDM’s day-to-day role involves pitching the business to potential new partners, managing client relations, and being the key contact for partnerships. A BDM is usually adept at seeking new business collaboration opportunities, and there can be multiple BDMs within a single company.
What Does a Day in the Life of a Business Development Manager Look Like?
Depending on the company, a BDM’s key responsibilities can vary widely. BDMs often participate in plenty of meetings, which could be organized around pitching the company to new partnerships, researching new partners, or liaising with existing collaborations. When working remotely, a BDM’s role will rely heavily on phone calls and video conferences. Exploring new collaboration opportunities involves a lot of research, making this one of the more independent aspects of the role. A BDM’s other tasks are typically more dynamic and socially oriented, involving a lot of speaking to both partners and clients.
What Responsibilities Does a Business Development Manager Have?
The main responsibilities of business development managers involve liaising with existing partners and securing new partnerships to maintain business flow. BDM’s explore multiple sources of business in order to maintain a wide range of opportunities. One of the key aspects of a BDM role is the ability to maintain strong relationships. This involves keeping partners motivated, happy, and incentivized. Finding the right partners is paramount, as a BDM needs to ensure their products are being shown to the right kind of clients.
What Qualifications Do You Need to Be a Business Development Manager?
While there are no formal qualifications required to be a BDM, industry-specific experience can give you a leg up. University graduates may struggle to jump straight into a BDM role and may benefit from starting at the ground level to prepare for the more challenging aspects of the job. Certain personal skills, such as presentation skills, attention to detail, and communication skills, will help a lot. Additionally, proficiency in programs like Word and Excel will always be a benefit.
What Skills Do You Need to Be a Business Development Manager?
Communication is the most important skill for a BDM role, as BDMs are constantly communicating with partners, clients, and new contacts. It is also important to have good interpersonal skills and be adept at presenting and pitching. Attention to detail is also crucial, especially when juggling multiple client relationships. A personal touch goes a long way for a BDM, as being personable and transparent in your communication is a great way of gaining trust and building confidence. Replying to contacts promptly, following up on new contacts, and keeping in touch with your existing network are all fundamental as well.
What Does a Business Development Manager Earn?
Depending on the company, some BDM roles will pay a salary plus a commission based on certain targets. In companies like MT-finance, the BDM team works together to meet specific targets every month.
Bristol (/ˈbrɪstəl/ (About this soundlisten)) is a city, ceremonial county and unitary authority in England. Situated on the River Avon, it is bordered by the ceremonial counties of Gloucestershire, to the north; and Somerset, to the south. Bristol is the most populous city in South West England. The wider Bristol Built-up Area is the eleventh most populous urban area in the United Kingdom.
Iron Age hill forts and Roman villas were built near the confluence of the rivers Frome and Avon, and around the beginning of the 11th century, the settlement was known as Brycgstow (Old English "the place at the bridge"). Bristol received a royal charter in 1155 and was historically divided between Gloucestershire and Somerset until 1373 when it became a county of itself. From the 13th to the 18th century, Bristol was among the top three English cities, after London, in tax receipts; however, it was surpassed by the rapid rise of Birmingham, Manchester and Liverpool in the Industrial Revolution.
Bristol was a starting place for early voyages of exploration to the New World. On a ship out of Bristol in 1497 John Cabot, a Venetian, became the first European to land on mainland North America. In 1499 William Weston, a Bristol merchant, was the first Englishman to lead an exploration to North America. At the height of the Bristol slave trade, from 1700 to 1807, more than 2,000 slave ships carried an estimated 500,000 people from Africa to slavery in the Americas. The Port of Bristol has since moved from Bristol Harbour in the city centre to the Severn Estuary at Avonmouth and Royal Portbury Dock.
Bristol's modern economy is built on the creative media, electronics and aerospace industries, and the city-centre docks have been redeveloped as centres of heritage and culture. The city has the largest circulating community currency in the UK; the Bristol pound, which is pegged to the Pound sterling. The city has two universities, the University of Bristol and the University of the West of England, and a variety of artistic and sporting organisations and venues including the Royal West of England Academy, the Arnolfini, Spike Island, Ashton Gate and the Memorial Stadium. It is connected to London and other major UK cities by road and rail, and to the world by sea and air: road, by the M5 and M4 (which connect to the city centre by the Portway and M32); rail, via Bristol Temple Meads and Bristol Parkway mainline rail stations; and Bristol Airport.
One of the UK's most popular tourist destinations, Bristol was named the best city in Britain in which to live in 2014 and 2017, and won the European Green Capital Award in 2015.