Have you ever seen the well-dressed people in your company with an attitude like they own the company? Well, these people could be the team of Business Development. They indeed have this kind of attitude but the role of the business development executive has been called the "most dangerous job in a company," due to the short lifespan, stress, and confusion surrounding the responsibilities of the role.

In a nutshell, it is one of the most important positions in the company. The success of a business development executive directly affects the company's growth.

According to HubSpot’s Marketing Agency Growth Report, “35% of agencies struggle to find employees who are the right fit for the position and 12% of agencies feel one of their biggest struggles is retaining employees.”

So, enquiring about the right person for this role might be difficult in some capacity when the employers don’t know who should be the best-fit candidate.

Further, we will discuss the skills a Business Development Executive possesses and what skills employers need to consider when hiring a business development executive. Before that, we have to understand what BDE does and what are the exact responsibilities of BDE(s).

Business Development Executive

The role of a Business Development Executive within an organization is to build innovative strategies and find growth opportunities and direct agency towards the long-term goals of an organization by 

• Establishing long-term relationships between organizations that have win-win opportunities.

• Conduct deep research and put different pieces of information together through various resources to fill out the gaps to maximize profits.

• Continuously evaluating market trends - Work closely with stakeholders to implement new expansions and projections.

• Building strong relationships with new and existing clients - offer them what matters most to them.

Business Development vs Sales

Most of the time, recruiters get distracted by the similarities between the roles of BD Executive and Sales Executive. But in reality, these roles are slightly different. 

• Mastery Across Platforms: BDE(s) must have the ability to work on multiple platforms and technologies. However, Sales Executives need to be proficient in certain techniques and platforms.

• Goals: When it comes to goals, BDE(s) try to align strategies for long-term growth, where sales executives have to deliver results over a specific territory and time frame.

• Revenue Growth: The primary focus of business development is to generate revenue for the company; whereas, sales representatives’ main objective is to close a sale.

All right, I'm sure this has given you enough information about business development and the differences between these roles.

Now it’s time to move towards the main idea of this article:

What are the Top 5 Skills for a Business Development Executive?

1. Communication & Interpersonal Skills

Good communication is a primary skill of a business development executive. Not only is it helpful in communicating with clients, but it also requires building coordination with teams and stakeholders.

Indeed, business development is not for those who want to work alone.

2. Negotiation & Persuasion skills

Each opportunity opens new doors with new conditions, the BDE must convince the prospect to do what needs to be done, and win their hearts, minds, and trust. Excellent negotiation skills always keep the door open for future growth.

3. Computer Skills

Nowadays computer skills become important for almost every profession. Computer abilities will secure your career success because every industry keeps growing and becoming extremely digitalized.

For BDE essential computer skills include: Microsoft Office (Word, Excel, Outlook, Powerpoint, OneNote, and Access), Google Drive and Spreadsheets, as well as, Automation Tools, CRM software, emails, and presentations are also crucial.

4. Analytical Skills

A BDE can’t do much without an analytical mind because an in-depth understanding of the industry is essential to finding profitable opportunities.

This understanding can only be developed by analyzing the market and competitors and reviewing our current position in terms of operations, service delivery, finances etc.

After that, analytical skills help a lot in reiterating the key pillars of the sales process and evaluating the best method to get things done. 

5. Management Skills

Management skills cannot be left out of a BDE’s profile. It helps to see projects from start to finish, whether they are setting smart goals, determining resources and milestones, setting budgets, and managing the risk involved in the project.

A BDE without management skills may be good in some capacity but may not achieve excellence.

Conclusion

BDEs are required in all industries under the sun as well as the Business Development role is crucial for business growth. So, whenever you’re planning to hire a BDE you have to make sure that he has good communication & negotiation skills, fluent in computer skills, must have an analytical mind, and has strong management skills.

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