How to Become the One and How Much the One Earns

The current realities of the local market are such that it is necessary to prepare for tasks of different complexity: from the setting of email mailings to B2B sales and closing of transactions. The Business Development Manager fully understands the specifics of the company, strengths and weaknesses of the organization and also feels the needs of customers. The specialist knows what marketing tools will help to attract new audiences and partners, and how to scale the business and bring the company to the top.

How to Become a Good BizDev

In an ideal world, every company has customer success, marketing and sales departments. The task of BizDev is to allocate the resources of these departments, according to the business strategy, to synchronize the work, and the result - to turn into a long-term partnership project. BDM is based on the company’s mission and goals, and the efforts of colleagues from other departments are directed towards business growth. According to archival and new data, the specialist proposes hypotheses. Assumptions are tested by marketers, accounts and sales managers. Employees' responsibilities overlap and BizDev coordinates them while building relationships with partner companies. However, in practice, clearly identified customer support, sales and marketing departments are rare. At first, the company may be difficult and unprofitable to assemble such full-fledged teams, so the functions of the departments are often performed by one employee. No matter how many departments there are in the company, it is essential to have a common vision and mission. The BDM analyses the work and goals of the departments and relates them to the organization’s aspirations so that each member of the team understands where the firm is going and what his role is in this direction. The main thing is how to strengthen this position through valuable cooperation.

How much BizDev earns

The requirements for BizDev in American organizations are radically different from those of European organizations. In the United States, the main responsibility of such an employee is to build a mutually beneficial partnership. He constantly works «in the field»: and attends conferences and meetups in search of the right people. In India, BizDev is a universal soldier. In a perpetual lack of resources and budgets, he is both a leader-generator, a sales manager and a marketer capable of motivating the entire team. Among the vacancies in the Indian market, you can see the declared position of BizDev, but by the required skills it will be a pure salesman. According to AmbitionBox, the minimum rate of the business development manager is 2 lakh rupees per year, the maximum is 14.4 lakhs, and the average is 4.8 lakh. At the start, you will need practical knowledge of at least one of the areas - Business Development, Sales or Marketing, and at least three years of experience in IT projects. The salary includes a bet and a certain amount of bonuses, depending on the goals achieved. For example, how many partners and customers were attracted, and how much money they brought the company. Interest is even higher than the basic revenue, so the final income depends on perseverance and personal motivation.