Business development is a job which you have the responsibilities to guide the development of your company. You should have adequate capabilities to evaluate the current business performance and determine which aspects it can be improved. Improvement can only be started after you are able to identify the opportunities, and build relationships with allies and business partners as well as maintain it in long-term.
Business development jobs typically need strong skills in math, information technology, communication and you should already have experiences in marketing and business management. With those experiences, you will have expertise in a particular industry. Having thirst of knowledge is another big help in this field. These are the top important skills that should be owned to be appropriate for business development jobs.
- Communication Skill
If you want to enter the business development field, you should possess a strong communication skill. From making a cold call, continuing long term relationships, to present the ideas and information to stakeholders and colleagues.
These activities demand proper skills of speaking confidently and writing clearly. But, when it comes to communication, you should also be able to listen with an open mind and emphatic, so you can identify other concerns and needs. Being able to work on a team is also vital for you to do this job.
- Strategic Skill
A strategy is one of the most important tasks in business development. A good and practical strategy can only be comprised of a strong sense of precedence, great research skills to fully understand the situation and rational thought. You should be able to make a plan that is worth for months or even years. This is not something that everyone can do, but you can always learn how to make it.
- Negotiation Skill
Business development has a tight relation to negotiation skills. Whether you are trying to lower prices, make investors approve your proposal or offering support, you have to know the best way to convince them to do such things.
You may realize that there is a faster way to influence people but, it’s an actually bad method. However, ethical approaching will work for the long term as you can find the common cause and earn their trust. In order to master negotiation art, you should have a great understanding, prioritization, creative thinking, and most important, thoughtful and sincere demeanor.
- Business Intelligence
Business development doesn’t only require you to have a deep understanding of your own. You should also have better knowledge of the competitors as well as the whole market. To gain knowledge as much as possible, you should collect and analyze all data, thus listening to each information with an open mind.
You should be able to determine which type of campaign that will be responded by certain market segments, how big the market, and how is the market changing. Get a full grasp of the current situation from trends and statistics.
- Project Management Skill
It is common sense to see business development as a major project. It also means you have to own the same skills like project management leader. The abilities will vary from establishing timelines, setting goals, managing risks, delegating tasks, creating and sticking to the budget, also managing team.
- Computer Skill
At first glance, you may be wondering why a business developer should have computer skill. But today, research, communication, and analysis are all processed by a computer. Mastering the basic program will allow you to take full advantage and enhance your potential.