Business development in a company means raising the status of a company’s existing product by improving its standard or expansion of market outside the local territory. Every Organization will have a director for its business development. Developing a business model or business requires a lot of research regarding the market need. Right investment at the right time will create a revolution of that developed outcome among the public.
Duties and qualities of a Business development director:
- A business Development director has to perk up intelligence on managing the company relationships and should be effective in signing partnership for the future establishments of the market.
- They should identify or create opportunities for the products to capitalize the present situation.
- He/She should be efficient in planning a proposal for revolutionizing the outcome in such a way that it reaches the committee members without beating around the bush.
- They are responsible for mentoring a team of members assigned in the development process.
- They should assist them for coordinating and estimating the budget for the proposal.
- Fundraising is one of their major tasks. For that, they have to expand their public relations and financial support, which serve to be their source of investment.
- They should have excellent verbal as well as written communication as it is essential for a business development director for multiplying their contacts.