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How and where to develop in the profession of Business Development Manager
/>Career growth explained by a series of Broadcast by BazaIT
Career growth is now more important than ever. That's why BazaIT is launching a series of live broadcasts on this topic. The first speaker of the stream was Maria Tintul, Head of Business Development at Startup Wise Guys. Maria shared with Victoria Nalyvaiko, CEO and co-founder of the recruiting platform BazaIT.com her own experience and tips for successful professional growth that will suit both newcomers who have just joined the industry, and those who are only considering it for the future. Attention was also focused on important things for already experienced workers.
Why People Fear Business Development
Maria never dreamed of or planned to work in sales. And to the question: "Why are there so few staff in sales in the market?" the answer is simple - most people perceive this profession from a negative perspective. Many people mistakenly believe that becoming a "salesperson" is something difficult or requires special skills, abilities, or even character. Like, you're given a pen and you have to sell it, as in the movie "Wolf of Wall Street".
"It's not like that. Unfortunately, the stereotyping of BD and sales in general has created a huge bottleneck in society. We have a big problem attracting new staff to this profession at all, as it is perceived as something that you wouldn't want to be associated with. This is a stereotype that we need to fight against. You don't have to be such a 'pusher' to be in sales," says Maria.
BD is a profession
A "salesperson" is a profession where in 90% of cases, the goal is to communicate with people, identify their needs, and then sell them products and services. Finding the ones who will work with you is much more challenging than it appears at first glance.
The job of a business developer is not just to find clients and sell, but also to analyze the market, adapt your offer, and study your competitors. They also develop new services necessary to maintain your niche in this market, interact with key partners, and grow your network. Thus, BD is more extensive and strategic.
Sales is an essential component of BD. It's about the result. Despite numerous processes, it's important to focus on results and continuously update your skills to achieve specific metrics.
In marketing, you need to think globally as it's an important part of building your brand and growing your business.
Bizdev sales in an outsourcing company versus a startup
In outsourcing, negotiations usually revolve around project details, including specialists who will work on the project, their rates, the possibility of additional research, UI/UX development, etc. This isn't always a creative process as it often leads to discussions of very specific things. Your client most likely already has a specific technical task.
"Conceptually, clients only approach you when they're ready to make a decision about choosing a partner for project development. However, there's an opportunity to offer full consulting to conceptualize with the client. When choosing a partner, it's important not only to consider hourly rates but also to understand the readiness stage of your audience to make decisions, and whether they will enjoy working with a conceptualist," Maria continues.
In contrast, startups are always an adventure, something like: "Let's help Dory find her keys."
"For them, it's crucial to have a good biz-dev or salesperson who can find interesting ways of testing ideas and researching the market to create a relevant product. Your role as a BD is to tap into your inner researcher and dig from all sides, interacting with experts already working in your niche, consultants, guides, and thought leaders in this industry. Develop horizontally to become a skilled and top-notch specialist. The more complex your B2B product, the more consultative your sales become."
Before coming to an interview, a candidate should already have tested insights about the product they will work with. It's important to try to understand both the positive and negative sides of the product and predict the audience's goals and pain points. This will help understand how successful the candidate will be in this specialization.
How to properly start in the BD industry
Maria Tintul says:
"I was sending out resumes everywhere, searching for any positions that required English skills."
Recruiting can be compared to sales since in both cases you need to sell your company, job vacancy, or product/services. It's important to make your offer stand out against hundreds of other vacancies.
For the candidates, I have good news: previous experience working in other sales teams is not always a plus; sometimes, it's even a downside. BD team leaders often find it easier to train a person from scratch. Look for larger teams and departments with clear processes, as they provide an ideal stepping-stone for a junior specialist.
Remember, business development sometimes isn't even about direct sales, but about facilitating a mutual agreement between people around a table (which you will then formalize).
How interviews go
"Imagine that you came to sell yourself. Therefore, find out the needs of your client, what are the company's pain points, and how you could help. Learn as much as you can about the company and the team to understand how exactly you could complement it. Don't come to the interview if you only want to answer questions. This is a two-way process, you also need to be interested in the company, working conditions, and find out if everything meets your criteria. You are providing services and you also need to understand if there is a fit. Treat this as a sales call," Maria continues.
Preparing for an Interview
If you already have previous experience, the first thing a potential employer is interested in is your sales volumes. It would also be beneficial to share a few stories about successful cases.
These are the things assessed in such an interview:
- How well the candidate can sell themselves
- The coherence and eloquence of their speech
- The clarity and precision in conveying their thoughts
- Their attentiveness to the flow of conversation and ability to steer it in a more beneficial direction for themselves
Here's the impression your speech should create:
- It should be clear who you are and what the forecasted picture of potential collaboration is
- You should aim to understand the product well enough to become an expert and be able to sell it
- It's important to leave a positive impression of yourself as a professional interlocutor, as the company essentially chooses YOU to represent them to their clients
- The more you reveal about yourself in the interview, the more opportunities you'll be given to express yourself in the position
Important Soft Skills:
The first checkpoint is the ability to tell a complete and understandable story. About anything: a book, a dog, a business, etc. The recruiter pays attention to how coherently the candidate narrates and if they monitor the listener's level of comprehension.
For a middle management position, it's crucial to have strong networking skills and to share this; your stories about unexpected new opportunities thanks to your network will show employers that you can also build relationships with the market for them.
During the interview, the main task is to understand whether the candidate is suitable for what the company sells. Whether it would be interesting to work with the clients they want to attract and whether you will work well together overall. Ask about everything in detail, because at the interview stage, only about 30% of what they really want to see in a candidate is typically discussed. You must understand how suitable this vacancy is for you and whether you are suitable for this position. This is necessary to formulate a quality and relevant offer later on.
"I advise you not to be afraid of new challenges and to try things, even if you have no experience. Like I did. But be sincere about it.
I chose new directions for myself every 2 years — it became the biggest challenge for me, something I hadn't tried yet. At my very first interview, I immediately said that I had no experience, except for knowing English, but I emphasized that I was ready to learn.
Later, I didn't actively look for a job — people in my environment recommended me. From the 3rd year, I was working as a freelance sales process consultant, where I constantly had orders and was expanding my network."
Tips for Beginners
If you're a novice in the realm of BDM, here are several suggestions that can help kickstart your career:
- Find a team from which you can learn. It's best if this team includes individuals who already have BDM experience.
- Join a team with a founder who is a salesperson. This will help you learn to sell, a crucial skill in BDM.
- Read a wide variety of literature on BDM to understand what approaches and strategies work best.
- Enhance your communication and networking skills. This will help you find new clients and expand your contact network.
- Determine what you enjoy and take it from there. It's best to work in a direction that appeals to you and sparks your interest (sales, market analysis, partnerships, events).
- When interacting with a client or potential partner, demonstrate your expertise. You should be familiar with how your product or service is evaluated.
- Develop your soft skills. This includes working on communication skills, empathy, and the ability to listen and understand your clients' needs.
It's important to define what you specifically want to gain from your work in BDM. If you wish to become part of a process that already exists and is growing thanks to the team leader, this could be an excellent choice for you. But if you want to grow independently in this industry and become a founder, creating new concepts and ideas, join smaller teams that will trust you to develop an entire direction on your own.
To become a successful business development manager, you need to have a deep understanding of the specifics of the niche in which you work.
Networking is also crucial. It is a powerful tool in this profession.
"If you're a BDM and don't have a network, you're not relevant," emphasizes Maria.
Engage actively in this field - it will help you better understand the industry and work more effectively in it. Without probing questions, your progress might significantly slow down.
If you dislike digging too deep or bumping your head against various corners, you might want to try not BD, but sales.
What to pay attention to
If you aspire to become a successful seller, focus on practical skills. Concentrate on your theme and get acquainted with different types of sales. There are many resources online, especially in English. Understand what a sales funnel is, what conversions are, and how they affect the efficiency of your work and your team.
You need to understand how the entire spectrum of sales works, including inbound and outbound sales, outreach, marketing, and the various specialists in this field. Become an expert in what you sell.
The smaller the team, the more valuable its specialists' time. You should aim to become an expert and impress your clients with specialized knowledge and skills. Quantitatively know about the market and client problems.
How Long the Switch Takes
If individuals have started a job and know what they're aiming for, then three months is generally sufficient for them to become a self-sufficient specialist. Lifehack: attend all thematic stand-ups of the team to learn the essence of the product faster and become an expert in it. Request to attend all meetings with the company's existing or future clients that your colleagues conduct.
It's extraordinarily important to listen and absorb the negotiation style of this particular company. Start gaining expertise in this product or service and build your arsenal of answers. Your task is to find as many answers as possible to the questions a client will ask you.
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