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.
Dereham (/ˈdɪərəm/), also known as East Dereham, is a town and civil parish in the Breckland District of the English county of Norfolk. It is situated on the A47 road, about 15 miles (25 km) west of the city of Norwich and 25 miles (40 km) east of King's Lynn.
The civil parish has an area of 21.51 km2 (8.31 sq mi) and, in the 2001 census, had a population of 15,659 in 6,941 households; the population at the 2011 census increased to 18,609. Dereham falls within, and is the centre of administration for, Breckland District Council. The town should not be confused with the Norfolk village of West Dereham, which lies about 25 miles (40 km) away.
Since 1983, Dereham has been twinned with the town of Rüthen in North Rhine-Westphalia, Germany. It is also twinned with Caudebec-lès-Elbeuf, France. In spite of the reunification of Germany in 1990, the sign on the A47 at the entrance to Dereham from the Swaffham direction still refers to Rüthen being in West Germany; this sparks periodic comment in the local press.