Business Development: definition, principle, training...
BUSINESS DEVELOPMENT: DEFINITION, PRINCIPLE, TRAINING...
The survival of a company depends on its growth. And growth is based on business development. Just as a human being seeks to evolve and conquer its environment, a company seeks to conquer its market.
Let's find out about business development together! 👇🏼
For a company, business development is truly a matter of life and death. Better to understand what this anglicism means. We tell you what there is to know about it. 👇🏼
What is business development?
- Business development vs sales & marketing
- Our definition of business development
- How to translate business development into French?
- Why business development?
- Business Development manager job offers
- Our business development training course
The first thing to understand about business development is that not everyone agrees on the definition. Some people believe that it should not be confused with sales or marketing.
Business development vs sales & marketing
The sales department is about generating transactions. The objective is to get a prospect (potential client) to the checkout.
The sales team is responsible for selling a product or a service to a specific client. According to this definition, the sale only takes place once the prospect has been formally identified.
In other words, the sales stage requires the prior identification of potential clients. The salesman is Will Smith in The Pursuit of Happiness or Gilbert Melki in the film Vendeur.
He sells something to someone who needs it.
Marketing is about preparing, delivering and positioning a product in the market so as to generate demand from potential clients.
Marketing is about identifying the needs and types of clients in order to attract them. It involves packaging design, product development and distribution based on this identified need. The aim is to facilitate sales.
The most famous marketer is Steve Jobs. Each of his keynote speeches is a marketing lesson.
Business development can be distinguished from sales and marketing by the fact that it identifies new areas of activity: new markets, new distribution channels, particularly through partnerships. Or, we can think of business development as prospecting and identifying new prospects.
In this sense, the crucial term is "new".
At IconoClass we have a different conception of business development.
Our definition of business development
For us, a Business Developer is not limited to prospecting.
Business development is the management of the entire sales cycle, from lead generation to closing, as well as client management.
Everything that contributes towards generating turnover for the company falls under the Business Developer’s responsibility. Of course, within medium-sized companies or large groups, teams with distinct specialities exist:
● Sales Development Representative (SDR), who will deal with prospecting;
● Business Development Representative (BDR), who will manage incoming requests;
● Accounts Managers;
These are really just specialities within the area of business development.
If the Business Developer is in a small structure (such as a start-up), he may well have one foot in marketing. Together with the marketing team he may be responsible for setting up acquisition strategies. And he will most certainly do sales.
Business development is all about developing the company economically.
Why business development?
Business development includes all the activities that are essential for the growth of a company, such as:
● prospecting to find new clients
● working on your commercial pitch and your sales argument
● conducting a commercial negotiation;
● getting contracts signed and increasing sales;
● follow up with clients;
● carry out analyses of your market;
● adapt products or services to the needs of the market;
● identify new growth levers;
● implement strategies that will enable the company to increase its turnover.
A good Business Developer will enable their company to grow. This is their mission!
Business Development manager job offers
It is important to note that every company has its own definition of business development depending on its size and the way it has structured its sales teams.
When you apply for a Business Developer or Business Development Manager position, make sure you read the job description carefully. Sometimes the company expects you to only prospect.
In other cases, you will be able to explore the whole range of Biz Dev activities, from lead generation to closing. And the company may expect you to develop the sales strategy.
You can also ask questions about your future job during the interview.
"One of the best courses in business development" - according to the Founder of Doctolib
We are passionate about business development. IconoClass was designed to offer a unique training course in the field of sales. And our approach is simple:
● 80% hands-on practical experience
● 4 months of intense training
● 200+ partners including Hubspot, Revolut, Contentsquare, Unilever, Deliveroo, SumUp...
And you will most certainly end up with a permanent contract, like 98% of our iconers. You don't need to have a master's degree. Some of our students only have the A-levels. And they have found a job.
The objective of the iconoClass campus which is located in London and in Paris, is to support you in your professional project and enable you to acquire the necessary experience in the techniques and tools of sales management. The training is also available online, accessible from wherever you are.
How about we take 15 minutes to talk about your future career?