What are the key skills to be a valuable BDE?
Business Development Executives or BDE roles involve the creation of long-term value for an organization from both existing to new customers, markets, and relationships. To succeed in this field, one needs to be extremely commercially aware, target-driven, creative, analytical, and very much a people-person. One needs to think as creatively as their marketing colleagues whilst also exhibiting the tenacity and persistence of the sales team. Also, head for figures and seasoned hand at developing relationships is very important.
Business development jobs are increasingly central to the sales and marketing teams of companies; this is especially true in the tech sector. At the heart of the requirements for these roles is someone who has an eye for opportunities and a talent for orchestrating spaces where customers, markets, and partnerships can be brought together to create opportunities for growth.
Following are the most important key skills a BDE should have:
1. Creative skills
Whether it’s seeing new ways existing opportunities could be developed or finding completely new routes to market, creative thinking is essential for the role of BDE. If anyone is having the thinking skills to the complexity along with creativity then he/she may be a good fit for the BDE roles.
2. Analytical skills
For business development, however, this creativity must be built on the bedrock of an analytical mind. Use of market research and sales data to present opportunities to stakeholders along with quickly understanding what makes commercial sense to pursue and what could potentially cost more to explore than it could ever bring in. An in-depth understanding of the wider market is essential if new, realistic, attainable, and profitable opportunities are to be proposed and developed.
3. Communication skills
Business development is not for those who like to work alone. Support from senior management, marketing, finance, and product or service teams is much important. One may have to coordinate with account managers and sales teams whose traditional priorities and focus lie elsewhere. Outside of the organization, the role of BDE is to convince others to invest in, or partner with, THE organization, so presentation and communication skills are the most important one.
4. Negotiation skills
New business always requires new terms, and it is the responsibility of the BDE to ensure that the terms agreed upon are favorable to the organization. Communication skills will gain a foot through the door – but having negotiation skills will ensure the door is kept open for future growth.
5. Goal-focused
New business is rarely won overnight. A demonstration should be maintained and developed by a BDE for long period relationships. Also, it is very important to have the ability to pull in quick wins to meet objectives and targets. One should always have the focus to be on meeting targets and must demonstrate the ability to pursue a long-term strategic vision. Responding tactically to the changing demands or unexpected opportunities will be an add-on.
6. Organisational skills
There are many balls to juggle and not all will be falling at the same rate. One must respond quickly to meet tight deadlines, yet still, nurture and develop slower-burning opportunities. It’s a balancing act, one has to juggle organizing other teams’ workloads as well as their own, but you welcome the challenge.
Business Development Executives have to do many other functions for the organization. It requires working well across teams and to be able to communicate with complete enthusiasm and belief to both junior and senior stakeholders. Creativity here needs to be informed by analytical, interpersonal, and organizational skills.