A business development executive is solely responsible for the development of the business or the firm. To achieve that, you can use several resources and techniques that can be taken into account. All professionally trained Business Development Executive will be able to carry this work efficiently.
How to Become a Business Development Executive?
There are specific eligibility criteria that are required to become a Business Development Executive.
- Education- Candidates from any business-related specialization may be well suited for the position of Business Development Executive. They are to be trained enough to carry on with their position prudently.
- Experience- Nothing can beat experience, and hence anyone who aspires to fill in this job position will have some experience in other business-related fields. It is only when you start very early that you should get promoted to such higher positions.
- Skills- The world of business brings people together, and hence it requires lots of skills to deal with people. It is always essential to learn specific skills that can push your company and give you an edge over others. It is essential to have certain people skills, good communication skills, smooth dealings, creativity, problem-solving skills, time management, and risk-taking ability. All these together will count in as your becoming an outstanding business development executive.
What Jobs involve Business Development Executive
The different types of jobs that are involved under the umbrella of the Business Development Executive include:
- Area Sales Executive- Here, the sales executive is responsible only for one area. The executive responsible for the sales development of a particular area during a particular time is an area sales executive. This is a highly specialized field, and the prospects are narrowed down. Hence the concentration and dedication needed for this job are very high.
- Marketing Executive- Business Development Executives are not only sales executives; they can also be placed in marketing. A marketing executive is primarily responsible for profit maximization. It should be carried on efficiently. Marketing Executives are bound to be creative.
- Business Analyst- If you ever join in as a business analyst, you have to check the inputs and the outputs of the company and you have to make sure that all the moves are legal and there isn’t any problem at any part of the company. If there is a trace of any problem later, then you have to be accountable for it.
- Project Executive- If you are hired as a project executive or have specialized in this particular field, then you have to analyze and manage the workspace and have to be accountable to that particular project to which you are assigned. If there is any promotion or sales-related issue, you have to stand out and work for it.
- Regional Sales Manager- After getting your hands on the relatively humble positions, you will be able to get promoted to become a regional sales manager. In this case, the responsibilities will be huge. The primary work of a regional sales manager is to maintain the sales of a particular region he is in charge of. They are responsible and accountable for any sales-related inquiry of their region.
- Relationship Manager- The relationship manager helps in maintaining a swift relationship between the client and the company. They promote the culture and the company by showing their people skills. If you are a relationship manager or want to be one, you must have your people’s skills and communication skills sorted outright.
These are all the options you can choose when thinking of becoming a Business Development Executive. If you think you have the skills to become one, then you should go ahead with it.
What is the Salary of an Executive
It should be essential to know what a Business Development executive salary is. There are different tiers in this regard. Decisions regarding salaries are primarily taken based on seniority, and different firms tend to have different pay scales. However, on average, the salary of a business executive is around twenty-two thousand per month to forty thousand per month.
Which Industries to Work On
There are several industries where the need for business development executive is required, and here are some of the major ones.
- Software Companies- These are the most elaborate recruiters of business executives. There are varieties of jobs that are needed to be done when it comes to the business executive.
- Consultancy Companies- Business development executives, especially relational officers, are required in Consultancy companies because of their B2C interface.
- Marketing Companies- these companies are especially in need of marketing executives and relational executives as well.
- Infrastructure Companies- these companies set the bar for others, and to do so, they require creative business executives to remain at the top always.
There are several other types of industries willing to take in different marketing executives, and hence they have extremely good job opportunities.
Where and How to Study?
In order, to become a Business Development Executive, you have to have a formal education. You can go to any business school in the country and earn your skills from there. There are several study materials that you should be aware of like:
- The sales acceleration formula
- Masters of Networking
- Hacking Sales
- Zero to One
- Rejection proof
There are several other books that you can get online. If you have enrolled yourself for a particular course, you must know how to go further with your move.
What are the Pros and Cons
Every profession has its good as well as bad things. Considering these pros and cons, you are to decide if you will go for this profession.
- They are almost like a freelancer, and hence their shifts are flexible. They do not have to submit to any strict schedule.
- They can apply to any of the positions that are being mentioned earlier, depending on their skills.
- Salary goes up with your experience.
- It enjoys complete independence and has the convenience of working in your way.
- Very risky job as the job security is absent.
- Persuading people initially can be easy; however, it becomes difficult later on.
- Not many people are on board, and hence there isn’t any team of any business executives. This becomes a problem sometimes.
These are all the detailed information that you need to know about a business development executive. Of course, they do have their problems; however, every profession has some good as well as some bad things. Therefore, if you choose wisely, you can become a good business executive and earn very soon.