How can Business Development professionals increase their value to their company?
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Business development (BD) is a crucial function for any company that wants to grow its customer base, revenue, and market share. But how can BD professionals increase their value to their company and demonstrate their impact? Here are some tips to help you become a more effective and strategic BD professional.
One of the first steps to increase your value as a BD professional is to align your activities with your company's goals and vision. You need to know what your company is trying to achieve, how it differentiates itself from the competition, and what its value proposition is. This will help you identify and prioritize the most relevant and profitable opportunities, communicate your company's message clearly and convincingly, and build long-term relationships with key stakeholders.
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Sean B.
Vice President @ Thentia Cloud | Emerging Regulatory Markets | Google Government Partner Of The Year | SaaS | AI | 🇮🇪🇪🇺🇨🇦🇬🇧🇦🇺
To increase value as a Business Development professional, adopt an entrepreneurial mindset. Take initiative: create your own presentations, make calls if needed, draft proposal templates, and actively share marketing content on social media. Share insights from successful meetings with colleagues. Avoid expecting everything to be handed to you; self-sufficiency and proactivity make you an invaluable asset to your company. To add, sell something equivalent to you wages so you are not a burden on the company. That should be a no-brainer, but there are many sales people who have not even sold enough to cover off their salary. You will be a sitting duck if that happens.
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Ratna S. Dewi
Your Logistics Solutions Advisor | Industrial Vertical Market Manager at Rhenus Air & Ocean
be a driven professional to support system. BDM is nothing without best and professional team behind. Demonstrate walking the talk, and be integrity in all aspect, It will create respect and automatically team work will be the best unique selling point for his/her customers.
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Another way to increase your value as a BD professional is to continuously develop your skills and knowledge. You need to stay on top of the latest trends, technologies, and best practices in your industry, as well as the needs and challenges of your target market. You also need to hone your core skills, such as communication, negotiation, problem-solving, and project management. You can do this by taking online courses, reading books and blogs, attending webinars and events, and seeking feedback and mentorship from your peers and managers.
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Kevin Ben L.
| Multi-Accredited Pharmacist | Entrepreneur | Polyglot | NLP Master Practitioner | Communicator |
CHANGE MAKES CHANGE! Developing your skills and knowledge is a transformative endeavor with far-reaching implications for your personal and professional growth. By embracing a proactive approach to learning and skill development, you can enhance your capabilities, seize new opportunities, and chart a fulfilling and successful path forward. Remember, the journey of self-improvement is ongoing, so embrace it with enthusiasm and determination.
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Motaz M. Almaroai - AvMP - CCE - OTT
Business Planner | Commercial professional | Growth Generator | Strategic Developer | Aviation Expert | Online Trainer | Cryptocurrency Expert | Success Achiever | Critical Problem Solver | Value Maker | Visionary Leader
Continuous learning is so important for any BD role in order to stay knowledgeable on industry trends, technologies, and customer needs. Seek out technical and soft skill development through multiple sources - online courses for convenient self-paced learning, conferences for networking, and mentors within your organization. Make a habit of reading publications in your space.
A third way to increase your value as a BD professional is to leverage your network and resources. You need to build and maintain a strong network of contacts, both internally and externally, who can help you access new opportunities, generate referrals, provide insights, and support your initiatives. You also need to use the available resources, such as CRM systems, marketing materials, and analytics tools, to optimize your BD processes, track your performance, and measure your results.
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Thamer Alyami
Business Development Manager - Siemens Energy
Always look for strategic partnerships that can provide mutual benefits and support your company's growth objectives. Collaborating with complementary businesses or entering into joint ventures can help expand your customer base, and leverage shared resources.
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Motaz M. Almaroai - AvMP - CCE - OTT
Business Planner | Commercial professional | Growth Generator | Strategic Developer | Aviation Expert | Online Trainer | Cryptocurrency Expert | Success Achiever | Critical Problem Solver | Value Maker | Visionary Leader
Tap into your professional connections, both internal contacts in other departments and your external partner relationships. Look for ways they may be able to provide introductions, co-marketing opportunities, or insight on community trends. Ensure you are making the most of any CRM or project management systems to track pipeline and opportunities.
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A fourth way to increase your value as a BD professional is to be proactive and creative. You need to take initiative and seek new ways to create value for your company and your customers. You need to identify and pursue new markets, channels, partners, and products, as well as find ways to improve your existing offerings and relationships. You also need to be flexible and adaptable, ready to respond to changing customer needs, market conditions, and competitive threats.
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Kyle Dunn
Driving Revenue Growth, Customer Retention, and Operational Efficiency | Oncology Diagnostics, Digital Pathology & RWD/RWE
Start by understanding your company's core strengths and areas of expertise. These are your competitive advantages that can drive success. Look for strategic opportunities that align with what your company does exceptionally well, and that contribute to both short-term and long-term strategic goals. When exploring new and creative partnerships, be cautious to ensure they don't burden your core operations with unnecessary administrative or operational complexities. Remember, strategic ventures should enhance, not hinder, your company's growth and performance.
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Eric Winston
Digital-Business Transformation Evangelist I Founder - Stratx
It is important that we are able to differentiate ourselves from the rest of the clutter and highlight our value addition both within the organization and in the customer's mindset. This is not an easy task as many at times we are dependent on the other stakeholders within the organization to support us in various parts of the customer journey. Thereby, we need to be very much focused, actively engaged and innovative to provide our customers a service which exceeds their expectations. I personally play a very consultative role that a selling role, trying to help my customers, by updating them with the latest technological advancements and highlight some of the benefits they provide.
A fifth way to increase your value as a BD professional is to collaborate and communicate. You need to work effectively with other teams and departments, such as sales, marketing, product, and operations, to ensure alignment and coordination of your BD efforts. You need to share your insights, feedback, and learnings, as well as solicit input and support from others. You also need to communicate clearly and regularly with your customers, prospects, and partners, to build trust, rapport, and loyalty.
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Mohamed Fawzy
Sales Director | Business Development Director at EMDAD Al-Muhaidib Group | HR, Outsourcing, Recruitment and Manpower Solutions | Leading High-Performing Teams | Driving Revenue, Sales Growth and Client Partnerships
Master the art of effective communication, both internally and externally. Use AI-driven communication tools to streamline interactions, foster transparency, and build strong relationships with clients, partners, and internal stakeholders.
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Muhammad Usman Chaudary
B2B Sales & Marketing | Account Based Marketing | Business Developer | Go-To-Market Strategy
- Stay connected with your customers over LinkedIn (so you can build a relationship) - Be supportive for your customers in their highs & lows (if they are looking for a switch, then share some opportunities with them or refer them) - Share knowledge with your customers (so they can see you as helping hand) - Don't try to sell first, let's start with building relationship first as it's gonna last longer and you will get more chances to close big opportunities if you gain the customer trust with strong relationship. - Bottom line is, we are all human so let's think and act like that to get succeeded in your domain.
A sixth way to increase your value as a BD professional is to learn from your successes and failures. You need to celebrate and acknowledge your achievements, as well as recognize and appreciate the contributions of others. You also need to analyze and reflect on your mistakes, challenges, and setbacks, and identify the root causes, lessons learned, and action steps. You need to use your successes and failures as opportunities to improve your BD skills, strategies, and outcomes.
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Raheel Akhtar
Business Development Manager for International Sales @ Codup | Technical Sales Expert | E-commerce | B2B | SaaS | Public Speaker | Media Person
Every experience, whether a success or a failure, offers valuable lessons. Business Development professionals should not shy away from analyzing what worked and what didn’t. Embracing failures as learning opportunities can lead to improved strategies and personal growth. Similarly, understanding the reasons behind successes can help replicate them in the future. A reflective approach to your work will continuously refine your skills and tactics, making you a more effective asset to your company.
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Tayyaba Zulqarnain
Business Development Manager
If you have your personal brand with great Aura, I believe this always helps to increase your organization's value. So building your personal brand is another way to do it.
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Muhammad Usman Chaudary
B2B Sales & Marketing | Account Based Marketing | Business Developer | Go-To-Market Strategy
It's not about to increase your value in a particular company that you are associated with. But it's all about increasing your market value, think and work for big. Organizations/Companies are just a platform, let's utilize them to enhance your skill set, challenge yourself to unleash the max potential and try to achieve a certain level. Believe it or not, it's gonna give you a high return in future (but don't expect it from your respective company/organization, like I said it's just a platform).
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