Business Development Manager Career Guide

What is a business development manager?

A business development manager (BDM) helps a company grow by finding new opportunities to make more money and attract more clients. They look for new markets, build and maintain good relationships with clients and partners, and ensure that their plans to grow the business match the company’s main goals.

Duties and responsibilities

• Find and grab new business opportunities
• Look up possible leads and start talking to future clients or partners.
• Plan strategies to enter new areas or boost the company’s presence in existing ones, including checking out competitors and studying the market
• Help shape the company’s products by finding new opportunities and sharing feedback on how well the products meet market needs
• Work with teams from sales, marketing, and product development

Work environment

The job setting for BDMs can change a lot based on the industry. They often work in offices but also travel to meet clients, go to events, or check out other business locations.

Typical work hours

BDMs generally work full-time during regular business hours, but travel, networking events, and business deals might require extra time. This can include evenings, weekends, and holidays. They need to be flexible and ready to work extra when needed.

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How to become a business development manager

Becoming a business development manager means you need the right education, skills, and experience. Here’s a step-by-step guide to get you started:

Step 1: Get a bachelor’s degree

Start with a bachelor’s degree in business administration, marketing, finance, or another related area. You’ll learn the basics of business, marketing, money matters, and how to manage things and people.

Step 2: Gain experience

Start in entry-level jobs or internships in sales, marketing, or managing client accounts. This experience helps you build your resume and show off your skills. Aim to handle bigger accounts or strategy projects as you grow.

Step 3: Keep learning

The business world keeps changing, so keep learning. Here are a few online courses that can help:

• Business Mind – Mastering Business Development: Learn about using sales and marketing to boost business growth.
• Professional Selling: Dive into the tactics of effective selling.
• Business Development: Grow With Strategic Relationships: Discover how to build and maintain strong business relationships that help you grow.

Step 4: Consider getting certified (optional)

Getting certifications like those from the Chartered Institute of Marketing or Certified Sales Professional can make your resume stand out. Certifications in popular CRM software like Salesforce or HubSpot are also beneficial.

Step 5: Network and aim higher

Go to industry events, join professional groups, and chat in online forums to make connections. Networking can open doors to new jobs and keep you in the loop about the industry. Always look for chances to move up to higher roles or take on more responsibility.

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How much do business development managers make?

The salary of a business development manager can depend on several factors, including their location, education, experience, and industry. Additionally, BDMs often earn bonuses or commissions based on performance, which can significantly contribute to total compensation.

Browse business development manager salary data by market

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Types of business development managers

BDMs can have different jobs depending on where they work, the size of their company, and what the company does. Here are some common types:

• Strategic partnerships manager: These managers build ties with other groups, such as businesses, nonprofits, or government agencies, to help their company grow. They look for new partners, make deals, and maintain those relationships.
• Channel development manager: This type of manager works with sales channels like distributors or resellers. They find these partners, help set up deals, and support them in selling the company’s stuff.
• New business development manager: Focused on finding new customers, these managers research the market, plan how to enter it, and start marketing and sales efforts to bring in new customers.
• Product development manager: Mainly found in tech or manufacturing companies, these managers work with the teams that build products. They spot opportunities for new products, guide the development process to meet market needs, and help launch these new offerings.
• International business development manager: These managers help their company grow into foreign markets. They need to know a lot about international trade rules, cultural differences, and market conditions abroad.
• Mergers and acquisitions manager: Focused on growing the company by buying other companies or merging with them, these managers find possible deals, negotiate them, and help integrate the new parts into their company.
• Government relations manager: They handle the relationship between their company and government bodies. They push for laws that benefit their company, get government contracts, and represent the company’s interests in politics.

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Top skills for business development managers

Being a great BDM means you need to be sharp in several key areas. Here’s what you need to stand out:

• Understanding sales and marketing: You need a solid grasp of how to sell things and market them. Turning a plan into actual steps and making sure they’re carried out is crucial for growing the business.
• Sales and negotiation: You’ve got to be a pro at selling products or services, making deals, and sealing those deals. Being good at this can really boost your company’s customer numbers and money coming in.
• Leadership: You need to be able to inspire and guide your team toward the business’s goals. Good leadership creates a positive place to work, helps everyone work well together, and pushes the team to do their best.
• Building relationships: A big part of your job is to make and keep strong relationships with customers, partners, and everyone you work with. Being good at managing these relationships can mean more repeat business and better teamwork.
• Market research: Knowing the market is a must. You should understand what’s trending, what your competitors are doing, and what your customers want and need. 
• Using business intelligence tools: These tools help you see patterns in sales, customer behavior, and overall market conditions. Using this data well can make a huge difference in your decision-making and help shape stronger strategies for growing the business.

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Business development manager career path

Starting a career as a business development manager usually kicks off in an entry-level job in sales, marketing, or something similar. This first step teaches you about market trends, customer needs, and how to sell effectively—all super important for a BDM.

Early career steps

After you’ve gotten some basic experience and shown you’ve got the skills, you might move into roles like account executive or business development representative. Here, you’ll manage client relationships, look for new business opportunities, and maybe even hit some sales targets.

Becoming a BDM

Once you prove you’re great at drumming up business and keeping customers happy, you can step up to a BDM role. This job is all about coming up with and carrying out plans to make more money for your company, building strategic partnerships, and leading business development teams.

Moving up

From there, you could climb to higher positions like senior BDM, director of business development, or even VP of business development. These roles come with more responsibility, like overseeing bigger teams and having a big say in the company’s growth strategies.

Top of the ladder

The ultimate goals could be roles like chief business development officer or CEO, where you set the strategic direction for the whole company and drive its overall growth.

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Similar job titles

• Sales Representative
• Account Executive
• Account Manager
• Sales Manager
• Marketing Manager
• Sales Director
• Sales Engineer

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Business development manager position trends and outlook

• Digital tech: Tools like data analytics, customer relationship management (CRM) software, and social media are vital for finding new business opportunities, connecting better with customers, and making smarter decisions.
• Global perspective: With businesses working more and more internationally, BDMs need to get the hang of global markets and cultural differences. They often work on strategies to enter these markets and build partnerships across borders.
• Focus on sustainability: There’s also a growing focus on making businesses more sustainable. BDMs are increasingly working on projects that meet environmental and social goals.

Employment projections

According to the U.S. Bureau of Labor Statistics, jobs for sales managers are expected to grow by 5% through 2031, which is about average. The need to keep making sales and leading teams well in a changing business world means BDMs will continue to be in demand. Those who are great with digital tools, understand international business, and can work with sustainable practices will likely find the best job opportunities.

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Business development manager career tips

Know your market and customers

Really get to know the market and the people you’re selling to. Understand what’s trending, what your customers need, and who you’re up against. This knowledge helps you spot growth chances, make smart strategies, and build strong connections.

Boost your negotiation skills

Negotiation is huge in this job. You might be sealing a deal, pitching to a client, or setting terms with suppliers. Being good at negotiation helps you get results that work well for your company.

Build relationships and partnerships

At the core of business development is your ability to network and maintain good relationships. Whether keeping in touch with partners or chatting with new clients, strong relationships can lead to new opportunities and boost your company’s reputation.

Embrace innovation

The business world moves fast. Stay ahead by being innovative—think of new ways to meet customer needs, tap into new markets, or use the latest tech. Creativity can find unique opportunities and give your company an edge.

Never stop learning

The business world keeps evolving, so keep your skills sharp. You can:

• Take courses in business or leadership
• Go to industry conferences or webinars
• Read up on business strategies, sales, and leadership

Network professionally

Building a professional network can open doors to new learning experiences, collaboration, and career growth. Check out groups like:

• Association for Strategic Planning (ASP)
• Strategic Account Management Association (SAMA)
• Business Networking International (BNI)

Get good at strategic planning

A big part of your job will be to set goals and plan how to grow. Getting really good at this can drive your company’s success and shape its future.

Improve your presentation skills

Being able to present your ideas well is crucial. Better presentation skills mean you can share your thoughts effectively, sway opinions, and leave a great impression.

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FAQs