If you love the idea of negotiating on a daily basis, then you may make the perfect business development manager for a corporation. Business development managers have the responsibility of negotiating and closing major business deals for corporations. They are ultimately responsible for increasing the profitability of a corporation. He or she is able to spot opportunities for businesses. Even in difficult economic times, a business development manager is able to spot the ways that a corporation can adapt and grow. Maybe you have wondered, “How do I become a business development manager?” If you want to someday become a business development manager, then you should work at establishing your role within a major corporation. You should try to add value to a company on a daily basis.
Recommended Business Administration Programs
- Capella University – BS Business Administration
- Kaplan University – BS Business Administration
- Walden University – Bachelor of Science in Business Administration
What’s it like to be a business development manager?
When you become a business development manager, you will need to figure out ways that you can help increase the profitability of a company. You may need to develop a proposal for a business and present it to the high-powered directors of the corporation. You may need to help directors figure out ways that you can expand the operations of a business over the next year. It is important for you to be able to also inform employees about new policy changes for a corporation. You will need to be able to work well with a variety of personalities in order to thrive in this type of position. It is important for you to be able to effectively communicate with people so that a company can implement new policies.
There is no formal education requirement for becoming a business development manager. It is helpful if you decide to obtain a bachelor’s degree in business administration or finance. If you have a marketing background, then this knowledge will also help you succeed as a business development manager. The best way that you can obtain knowledge that will help you succeed as a business development manager is by gaining experience and working for a company. You should try to learn about the way that a corporation functions. If you already know about all of the internal policies of a corporation, then this will provide you with helpful knowledge for serving as a business development manager. Most business development managers are able to work their way up from entry-level positions in a company. This is also the most cost-effective way to thrive in a career.
Salary & How to Get a Job
According to the Bureau of Labor Statistics, the starting salary for a business development manager is about $87,000 a year. The demand for this career position is estimated to grow by 15 percent in the next ten years. To obtain a position in this career field, you should try to gain an entry-level position with a corporation. It is important for you to establish yourself in the business world. You should also have a proven track record of being able to increase the profitability for a company. You may find that networking can prove to be helpful as you are trying to obtain a position as a business development manager. You may ultimately end up being referred to a position as a business development manager for a corporation. This is the way in which corporations tend to hire people for this type of position. Corporations want to know that an individual is well-known by other professionals in the field.