What skills are necessary to succeed in business development?

To develop a business, you need to have good skills in the following areas:

Financing: Where to get the money and where to put/invest the money.

Marketing: Who are your customers and how you would like to sell your products to customers.

Operations Management: How to manufacture a quality product at least cost so that you can beat your competitors

Accounting: Someone need to sit in the office corner and shall have to keep record of all transactions and prepare accounting reports, so that by just looking at the report you can make a decision

Economic, political and social environment: Understand the environment accurately.

Business development Plan: Incorporating the above, make a nice business development plan

Technical issues, drawing etc. If relevant, please incorporate drawing and technical issues as annex to Business Development Plan

Here are the top skills that got others hired in business development:

1. Relationship building

– the top rated skill that you’ll need to get hired in business development is the ability to build and maintain relationships with others. You’ll need to be able to identify lucrative relationships and reel those potential partners in through networking or other approaches so that you can build on the client base.

2. An eye for the innovative

– finding innovative and creative new approaches to business problems is helpful in being able to lure in customers. Showing them how they are being creative and how they will be able to use your solution to help their customers will help you to be able to grow the business.

3. Ability to analyse the competitive environment

– understanding the industry, the market and what your customers are looking for is essential to being able to pitch to them, armed with the facts and figures that will really sell your business offerings.

7 Top Skills That Got People Hired In Business Development

4. Negotiation

– business developers are able to negotiate and persuade decision makers among their customers. Sometimes customers won’t want to pay the price you offer or won’t want your terms. Working with them to come to an agreeable position, without conceding on key points is very important in this role.

5. Personable

– arguably completely critical to the skill of relationship building is that of being personable. If you are difficult to approach then clients will simply go elsewhere to someone who is easy to work with. Being polite is a part of this, but also being friendly and able to make easy chit chat with strangers certainly helps too.

6. Selling

– with business development, the ability to sell must be innate to would-be business developers. All the great ideas in the world won’t be enough if you can’t sell them to other people. Understanding what specific clients want and pitching it to them appropriately is integral to this.

7. Thinking on your feet

– the skill of thinking on your feet and adapting quickly is much coveted in business development. Employers want to see that you can handle curved balls that come your way with confidence and ease, and that you don’t get thrown off course easily.

I answered a similar questions about business development skills few days ago. Please refer to my answer there. Thanks. 

As Jonathan has said Sales and Marketing are very important. My list is below: 

• Communication and Interpersonal skills

• Collaboration skills
• Negotiation and Persuasion skills
• Project Management skills
• Research and Strategy
• Computer skills
• Business Intelligence

Communication and flexibility

Fully agree with Mr. Md. Fazlur Rahman<<<<<<<<<<<<

Thanks

Fully agree with the answer given by Mr. Fazlur

Thank you for the invitation ............. pursue advanced courses and all that is modern

Planned operation ongoing, long-term, and the results take a long time.It depends on the problem-solving method using science behaviors.Organizational development depends on the entrance to the concept of systems as a basis for change, Decision-any decision to change in a resource sectors or result in change in other parts of the organization.OD not only diagnosis but immediate executive action, it is focused on achievement and results, not only to describe the problems or identify their nature.Organizational development may require the intervention of an internal or external parties (experts) to help identify problems, gather information and then make a change

I agree with the answer of Eng.Yaqoub

agree with answer add by mr. Md. Fazlur Rahman