If you're interested in thinking critically about business goals and helping companies develop strategic plans to achieve theirs, then you may be a good fit as a business development manager. As an advanced member of the sales team, business development managers help identify leads, expand to new markets or opportunities, offer proposals to new clients, and build relationships with customers and co-workers alike.

Learn more about what business development managers do and the key skills you'll need to succeed in this career path. Afterward, if you're interested in building your skills in this area, consider enrolling in the University of Virginia's Business Strategy Specialization, where you'll learn how to align efforts to organizational strategy.

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Business Strategy

Steer Your Business to Success. Generate value and demonstrate global impact in four courses.

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Skills you'll build:

Mergers & Acquisitions, Strategic Thinking, Stakeholder Management, Growth Strategies, Strategic Decision-Making, Business Strategy, Strategic Analysis, Plan Execution, Organizational Strategy, Strategic Management, Corporate Strategy, Strategic Planning, Competitive Analysis, Competitiveness, Strategy Implementation, Marketing, Research and Design, Strategy and Operations, Leadership and Management, Entrepreneurship, Strategy Formulation, Strategy, Sales, Business hypothesis testing, Risk Management, Planning, Mergers And Acquisitions (M&A), innovation strategy, Business Analysis, growth strategy, business competition, Investment Management, Finance, Industry Structure, Capabilities Analysis, Competitive Position

What is a business development manager?

Business development managers (BDM) are key members of the go-to-market (GTM) team. They are responsible for building lists of sales leads and then pitching to these prospects to build the company’s client list. In sales lingo, they help move people from the top of the sales funnel to the goal of being a signed customer.

The business development role uses many business skills, including strategic planning, project management, and successful negotiation.

Tasks and responsibilities

While the responsibilities of a business development manager will vary depending on the company and the industry, you might expect your tasks to include:

• Identifying opportunities in target markets for your organization’s products and services

• Generating leads through cold calling prospective clients or networking at trade shows

• Developing and nurturing relationships with key customer accounts

• Keeping up with the latest industry developments, including market positioning of corporate competitors

• Assessing client needs and the company’s ability to meet those needs

• Following up with new leads and referrals generated from the sales team

• Preparing status reports on goals

• Using customer relationship management (CRM) software, such as Salesforce, to manage interactions

Successful business development managers often move into more senior business development and sales management roles.

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Google Project Management:

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Average time: 6 month(s)

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Skills you'll build:

Risk Management, Project Management, Supply Chain and Logistics, Business Communication, Leadership and Management, Entrepreneurship, Change Management, Organizational Development, Planning, Collaboration, Strategy and Operations, Software Engineering, Influencing, Communication, Budget Management, Finance, Strategic Thinking, Organizational Culture, Career Development, Quality Management, Project Execution, Scrum, Agile Management, Coaching, Problem Solving, Stakeholder Management, Effective Communication, Project Charter, Business Writing, Task Estimation, Procurement, Project Planning

Why pursue a career as a business development manager?

A career as a business development manager may be a good fit for someone who is outgoing, interested in sales strategies, and enjoys working with people and creating new connections.

Good business development managers love the challenge of prospecting and are able to accept rejection with grace. They view each “no” as putting them a step closer to a “yes.” They also enjoy being part of a team that builds and executes a business growth strategy.

Business development manager salary

According to Glassdoor, business development managers in the United States make an average base salary of $100,784, though this role may be entitled to additional compensation [1]. Salaries can also vary depending on the industry, location, and amount of experience you have. 

How to become a business development manager

Follow these 5 steps to become a business development manager. 

1. Consider a degree. 

According to Zippia. 73.6 percent of business development managers have a bachelor's degree [2]. Common majors include business administration, which can provide foundational knowledge of decision-making, data analysis, innovation, and entrepreneurship. Depending on the company and the types of roles you'd like to advance to, a master's degree may be beneficial.  

2. Gain relevant experience. 

It helps to have experience with the selling process. For example, as an entry-level retail sales associate, your responsibilities might include guiding customers through their purchase decisions all the way to the point of sale. As an outside sales representative position, your responsibilities might include reaching out to prospects, demonstrating products, and securing new customer accounts. 

Other key areas of experience include strategic planning, business management, and successful negotiation.

Read more: 6 Entry-Level Sales Jobs and How to Get One

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Salesforce Sales Operations

Launch Your Career in Salesforce. Learn the foundational skills in Salesforce needed to start a new career.

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Databases, Operations Management, Salesforce Lightning, Leadership and Management, Business Analysis, Sales, Salesforce, Sales Operations, Marketing, Strategy and Operations, Data Visualization, Strategy, Data Visualization Software, CRM, Opportunity Management, Lead Management, Reports and Dashboards, Customer Success, Salesforce Sales Cloud

3. Develop technical skills. 

Technical skills that can lead to success as a business development manager include project management, navigating Microsoft 365, and conducting search engine research. 

With the increasing need for secure information systems and robust use of data to guide decisions, you may find that specialized training in cybersecurity and data analytics gives you an edge as a business development manager. In addition, mastering customer relationship management (CRM) software can prepare you for a business development manager position, especially in larger organizations.

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4. Enhance your resume. 

As you gain experience, skills, and education, it’s important to update your resume continually. Scour business development manager job listings to find out what companies are looking for. Highlight the qualifications that match job requirements and feature them prominently on your resume. 

Use action verbs to describe tasks you performed in previous roles, and when possible, emphasize any quantifiable outcomes.

5. Find your first business development manager position. 

With qualifications and an updated resume in hand, the next step is to begin applying for business development manager jobs you’re interested in. Which ones will contribute to the lifestyle you desire? In which of these positions will you get to work on projects and tasks that excite you? What do you admire about the companies who are posting business development manager job openings? 

As recruiters and hiring managers reach out to you to schedule interviews with companies, take time to improve your interviewing skills. You’ll want to be able to answer behavioral questions effectively using the STAR method, as well as prepare to ask your interviewer insightful questions, so that you can make the best decision for your career. 

Start building important business skills on Coursera

Explore the work of business development while building your skill set in this area. Consider enrolling in the Business Strategy Specialization from the University of Virginia. Over five courses, you'll learn how to evaluate industry evolution, build and sustain competitive advantage, formulate and assess business strategies, and align efforts to organizational strategy.

specialization

Business Strategy

Steer Your Business to Success. Generate value and demonstrate global impact in four courses.

4.8

(2,832 ratings)

76,025 already enrolled

Beginner level

Learn More

Average time: 1 month(s)

Learn at your own pace

Skills you'll build:

Mergers & Acquisitions, Strategic Thinking, Stakeholder Management, Growth Strategies, Strategic Decision-Making, Business Strategy, Strategic Analysis, Plan Execution, Organizational Strategy, Strategic Management, Corporate Strategy, Strategic Planning, Competitive Analysis, Competitiveness, Strategy Implementation, Marketing, Research and Design, Strategy and Operations, Leadership and Management, Entrepreneurship, Strategy Formulation, Strategy, Sales, Business hypothesis testing, Risk Management, Planning, Mergers And Acquisitions (M&A), innovation strategy, Business Analysis, growth strategy, business competition, Investment Management, Finance, Industry Structure, Capabilities Analysis, Competitive Position