Director of Business Development

This Director of Business Development job description will help you to better understand the position’s needs and value.

Growing a business, establishing new connections and finding opportunities is extremely important and that’s the true role of a Director of Business Development. People in this role are known for being great at fostering connections, yet they are also generous and know how to access the right connections that eventually help grow and expand your business.

On top of that, the Director of Business Development is usually the face of your company for prospective partners. The director maintains a high level of enthusiasm in regards to your business, its offerings, and how you connect with others within this niche. It all comes down to improving operations, while also offering your business the opportunity to expand by connecting with new clients and even negotiating sound deals. This is the person to focus on when it comes to pushing the boundaries of your business, so it’s a crucial role within any company.

Similar job titles

Similar job titles include:

• Business development manager
• Director of operations
• Account manager
• Inside sales specialist
• Sales director

Position summary

A Director of Business Development will always focus on helping your company boost its profitability in the long run. The main idea is to help find great business opportunities, while also improving the company’s market presence. In addition, a good Director of Business Development will always work closely with distributors, vendors and customers in order to foster and maintain great business relationships. The director will also use his knowledge of the company’s services and products in order to find new opportunities that will help grow the company revenue.

Aside from that, the Director of Business Development will establish and track marketing efforts, while also assessing sales and marketing results in an effort to improve upon them. The director will prepare the documentation needed for any request for proposals. Additionally, he will also research any trends and find new ways to connect with customers and offer them incredible services and solutions. In some cases, the Director of Business Development is also the one that chooses and monitors the implementation of software and even automation platforms.

General activities

• The Director of Business Development will establish and also maintain great relationships with external and internal departments, but also vendors, customers and distributors
• They will identify and solve any conflicts pertaining to the business side and eliminate any misconceptions or misunderstandings
• Overseeing the creation and also implementation of business plans in order to connect with and reach new markets
• Conducting market research in order to identify industry changes/trends and making the necessary adjustments
• Directing the customer relationship activities to deliver an exceptional service
• Overseeing the interviewing, hiring and training of personnel within the business development department
• Assigning the sales targets and quotas to the business development teams
• Setting up customer meetings in order to deliver sales pitches
• Making sure that the departmental goals are all in line with the growth strategy of the company
• Picking and implementing the right automation software, along with the software platforms that need to be used by the business.
• Studying the market and finding the best strategic partnerships that will bolster the true power of your business and its growth.
• Overseeing the preparation and implementation of RFP documentation.
• Presenting marketing opportunities and business opportunities to both executives and management.

Core responsibilities

• Driving an increase in business revenue, while expanding the presence of the company and bolstering the power of their brand
• Identifying, working on and improving, then presenting marketing opportunities to the managerial team and investors
• Assessing any emerging trends and finding the best way those can be used to grow the business and enhance the presence online
• Establishing great business relationships with vendors, customers and distributors. It’s imperative to identify and establish new business opportunities, then work on maintaining and even improving these in the long term.

Required and desired skills

The Director of Business Development should have great negotiation and conflict resolution skills. They should also provide exceptional communication and interpersonal skills. A good Director of Business Development will also be very good at multitasking, while also being proficient in multiple office software solutions.

Some previous experience in management, business development, marketing and sales can be extremely beneficial. The Director of Business Development also needs to be an avid learner, he should know how to create and present important business documents as well. Knowing how to collect, collate and present information is another crucial skill to take into account.

Aside from that, the best Director of Business Development will always have a very strong business acumen, exceptional leadership skills, while excelling at things like problem solving. Any research and strategy skills are a must-have, with networking skills being a major, desired skill that can make any candidate stand out.

Required education

Every company might have a different education requirement when it comes to the Director of Business Development. But in general, the expectation from any candidate is to have a bachelor’s degree in marketing, business, sales or any other relevant field. Usually, the candidate needs to have an MBA, a doctoral or master’s degree within these fields.

It’s possible to become a Director of Business Development if you have a degree in business law, economics, management, statistics or any business-related field. Accumulating experience within the business world can also help candidates gain the upper hand and surpass competitors.

A day in the life of a Director of Business Development

The day to day life of a Director of Business Development will vary, but it’s usually full of meetings, reviewing briefs, talking with the teams and establishing business strategies. A lot of the time, the director will also work with their team to develop contracts and client budgets, create proposals, but also find new potential business partners.

It’s very common for any Director of Business Development to attend a lot of industry events and connect with potential clients or business partners. A lot of the time, this position is about networking and constantly presenting your business and its results in a way that’s very professional, but also appropriate within this niche. Identifying ways to speed up business performance and integrating AI or other software solutions is also on the radar of any Business Development director.

Salary range and benefits

The Director of Business Development has a base salary ranging from $177k to $223k, but it can be more or less depending on the business. When it comes to benefits, these tend to include 401(k), disability, dental and health insurance. Some companies also provide vision insurance, among other individual benefits.