What is a day in the life of a business development specialist is. What exactly is the job of a business development specialist. There are various activities being done by a business development specialist. I will be sharing two major activities.
The first part of the day-to-day life of someone in business development is actually prospecting. If you’re doing any type of business development work, meaning your job is to take your company and you wanna partner up with other businesses and close deals. Well, the first part of this process is actually to prospect. Propspecing means finding other people who will be a great fit to work with you and finding out ways to reach out to them and generate appointments meetings so that you can have a conversations to see whether or not it makes sense to work together. In the beginning of business development, especially if you’re just starting out and you’re fresh to the role, a majority of your day, probably 90% of your day is going to be dedicated to prospecting. And the reason why prospecting is so important is because if you’re not generating meetings and appointments with potential dream customers, well, you can’t really do any type of business development, you can’t work for anybody if nobody knows who you are. So in the beginning all day, every day, basically you wake up, you go to work and your job is to find these companies, build the list out of people you wanna work with, reach out to them with email, LinkedIn or cold calling, whatever works best in your industry, get them on the phone, book an appointment, learn about their business and see whether or not it’s gonna make sense to work together. We should also note that a very important aspect of prospecting is really defining who is it you should be going after, which is called an ideal customer profile. You have to come up with some creative ideas to see who you actually want to reach out to. Is it going to be casino companies, e-commerce, people in real estate, finance, cryptocurrencies, and you have to figure out the use cases for your services and see how they can fit into these industries? You have to come up with great ideas on who exactly you can sign up and work with to expand your business. But as you generate more meetings and you have an idea of who you wanna work with.
The next step after the process is to fulfil on these business development meeting.
Whether you’re a generating leads, outbound meeting, you’re doing cold email, LinkedIn or cold calling, or if the company you’re working at has some type of marketing mechanism where they’re generating inbound leads and the leads come in
and you’re the one that talks to the potential customer on the phone. Either outbound, inbound, it’s your job as a business development person to qualify the prospect, to see whether or not it’s a good fit to work together. Essentially business development meetings are very similar to sales meetings. And generally what happens on these business development meetings is you want to learn more about the prospect, see what their challenges are, see what they’re trying to do and what their aspirations are and understand what are the things that are blocking them from getting them to where they want to go, understanding what jobs they require done.
And so from a business development perspective, your job is to identify whether or not if they work with you, can they achieve the goals that they already want to achieve? And can you help them remove the blockers?
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