Business development is one of the major areas of work for most companies. Business development consultants are hired to ensure that this need is fulfilled effectively. These people are primarily responsible for analyzing present market trends and conditions, and initiating strategies in marketing, sales and advertising for the company.
Typically, a business development consultant conducts research on the requirements and goals of an organization, from different points of view. They then incorporate the results into marketing and sales strategies. Working at this position means that you have to have an analytic mind, along with deep knowledge of marketing, sales, promotions, advertising and operations. It is important for business development consultants to possess a master’s degree in business if this is what they want to do. The ability to analyze business development requirements of the company and indulge in activities to ensure that these needs are met is of the utmost importance in this work.
Additionally, it is important for business development consultants to prepare recommendations based on the researches that they have carried out in the first phase. Creating and updating clients’ profiles and ensuring that all follow up activities are done on time is also of great importance. Some other duties of a business development consultant include:
Business Development Consultant Job Description
• Evaluate the company’s competitors and analyze its business practices
• Indulge in research in regard to how the company can improve its offers and services
• Develop new business models for the company and create opportunities to follow them properly
• Prepare recommendations based on carried out research in the form of reports and suggestion documents
• Monitor strategies of the company in regards to sales, business development, advertising and marketing
• Negotiate contracts and licenses and conduct audits on monthly and yearly basis
• Create and implement strategies for existing accounts aimed at generating new business opportunities
• Initiate and implement plans and strategies to help the company minimize its losses and increase revenues
• Monitor the sales strategy on an ongoing basis and make adjustments and modifications as required
• Locate potential business deals by exploring partnerships in the marketplace and track new business efforts through designated reporting systems
• Provide input on marketing and business development materials and lead and assist business development teams with special projects and services
• Initiate plans for client companies to ensure on-time achievement of revenues and profits
• Develop and prepare presentations for prospective clients and handle teambuilding exercises
• Ascertain that follow up procedures for all business development procedures are handled timely and efficiently