Innovation and adaptation to its competitive environment are key aspects for a company to survive and grow. As in any business, the commercial function is essential. Therefore, today we will focus on a profession with this function: the Business Developer.
A business developer takes care sales cycle (from research to signing a contract) and commercial negotiation but it also develops new propositions in parallel (products, services, partnerships, commercial strategy) while remaining on looking for market trends.
If you want to know everything about this job and/or have questions, this article is for you!
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How to become a business developer?
To become a business developer, know that there is no standard path. In fact, although it is generally students who have completed a vocational school education at bac+5 level (marketing management, entrepreneurship, finance), other profiles are hired, such as those coming out of a BTS/DUT for example, or people with a diploma from a major engineering school.
The bonus: Having a diploma is not enough, it is also important to be curious to stay updated on the latest market trends even if you are still a student.
What are its missions?
The main purpose of the business developer is to analyze in detail the situation of the company where it is located to show the positive aspects and those that need to be improved through concrete proposals such as the long-term commercial strategy combined with short-term tactical means.
It should be power of suggestion so that his company can differentiate itself from the competition in order to increase turnover with e.g. new product/service offers or new partnerships. So here is an overview of these main missions in his work:
- Perform competitive intelligence at the competitor and industry level
- Establish new proposals to increase revenue (new partnerships, new product and service offerings, etc.)
- Strengthen the relationship, create customer loyalty
- Build a commercial strategy (commercial action plan, means of prospecting, distribution channels, sales targets)
What skills and qualities are required for this job?
A business developer must have one a certain creativity with many qualities in negotiation. He must have that too an ability to listen to the market and detect weak signals in order to anticipate market threats and opportunities (new competitors, new consumption patterns, regulatory changes, etc.).
Or else, a long-term vision at the level of the commercial strategy is required as well as attention to detail in a company’s business component and knowledge of the market and competitors. The business developer has extensive knowledge of all functions of a company (marketing, production, communication, finance) and not only in the commercial function, etc. to have an overview of the company.
Moreover, He must also show of empathy and kindness as he is often in contact with customers and all components of the company. This contributes to its promotion and to good brand image that a company wants to maintain.
Finally, expressive skills both in writing and orally are necessary to be able to excel in this subject. The taste for challenging and surpassing oneself are two essential qualities for becoming a good business developer.
Most to have: Knowing that he often leads a team on projects is a plus to know how to show leadership.
In terms of technical skills, an excellent command of several foreign languages (English, Spanish) in an international context is highly recommended, as is knowledge of marketing and the legal field to better understand a company’s needs. The goal is to quickly develop strategies to acquire new market shares.
How much does a business developer get?
Remuneration depends on length of service, the variable part and the size of the company. But we can estimate that the average remuneration of a business developer in career start is 2900 euros gross per month and can go up to 7000 euros gross/month with 10 years of experience.
For a year in France it is estimated that a novice business developer earns between 35,000 and 38,000 euros gross, while a senior earns between 46,000 and 50,000 euros gross.
And after ?
After a few years as a business developer, it is possible to climb the ladder to become innovation project manager, sales manager, partnership manager or even day-to-day manager for example.
The business developer is a person with a very complete profile with many human qualities combined with extensive and precise knowledge of many of the company’s subjects because he is in contact with many of them. Its missions are multiple and varied, but they have a common goal: to ensure development and increase in turnover. Finally, it is important to remember that There is no “typical” path to becoming a business developer, although certain training courses are recommended.
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