How to Become a Business Development Executive?

A business development executive (BDE) plays an imperative role in the growth of a company. It is the job of a BDE to promote the product/service segment of the company. At some organisations, business development executives are also called sales executives. If you want to build a career as a business development executive, below career guide would ease your journey.

Some of the duties of a business development executive-
1) As a BDE, you would need to frequently interact with potential clients to establish new business relations.
2) It is the job of an executive to do market analysis. On the basis of these market reports, business strategies would be formulated.

Required education & qualifications
The stream in which you have completed your graduation doesn’t play a crucial role because students from all fields can apply for the job. Moreover, top-notch companies prefer to hire candidates who know two or more foreign languages. In fact, this is a kind of job where your soft skills would be more beneficial than your academic qualifications & degree.

It is advised to gain some good work experience in finance and management by pursuing a business-related course. If you want to work in a technical company then it is important to have some good technical background and sales experience in a particular field.

Some crucial skills
1) Excellent business knowledge
2) Good communication skills
3) Learner
4) Negotiable skills
5) Team player
6) Analytical ability

Scope of business development executive jobs
In the near future, there would be a great rise in the number of BDE job positions, especially in fast developing fields like online commerce and pharma. As more and more companies are vying for the online space, there would be a huge demand of business development executives who can help a company in expanding its online business.

The package
Typically, the salary structure of a business development executive includes basic pay and commission. The basic salary of a BDE can vary anywhere between Rs 2-3 lakh/annum. If you hit the target then you will also earn commission and incentives.

Where to look for BDE jobs in India?
The jobs are available throughout the country. However, there are few Indian cities, like Delhi, Gurgaon, Mumbai, Chandigarh, Bangalore, Chennai and Pune, where you can find booming job opportunities in diversified sectors. Various top-notch companies have opened their offices in these cities and therefore, there is a high demand of BDE in these areas.

Grants for Business Development Start

Understanding the need for grants for business development:

The need for capital is something that every entrepreneur faces at one time or another. Governments around the world have realized the importance of subsidies for industrialization and now in business development are available in all countries. The volume and scope of assistance offered can vary and is generally observed that if the federal government does not include direct subsidies to small companies, many state development agencies do.

The different types of financial aid are designed to help entrepreneurs start or expand a business and to encourage them with egg. There are a number of special resources that provide comprehensive assistance to identify and select the appropriate agency for economic development, online and offline.

The application procedure:

Resources to ensure that the contractor is able to access the funds requested in the best financial resources. Grants for business development is available as a fine array of very attractive loans to start or expand a business. Resources, the resources to take care of the growth of the company access to more capital for the proper functioning of existing machines and get ready to meet the objectives in the long and short term. There are individual grants also available. Grants for business development through a formal application and awarded on an ongoing basis. When the businessman is, he is advised of the receipt of all required documents and the decision is usually made within 30 days.

Grant evaluation:

Grants for business development, assessed on the basis of some predefined criteria. The applications are scanned business financing in depth is required to address the needs and support the use of the number of opportunities for the effective exercise of the Company the amount awarded and the award actually meet the business needs identified. Assessment of business development grants also includes a careful examination of the potential effects of the general fund business growth, especially if it is mentioned in another state or country economic booster.

How are grants for business development sourced?

Grants for business development are primarily federal and state grants broadened as the title suggests, the development of enterprises. Funds may be used by the contractor for any business. Government grants are funded by taxes and subsidies extended through various government programs and agencies. The money available to the government for redistribution through subsidies to companies is enough to cover all business and pursued expansion costs Freshers many in various industries. There are also a variety of federal grants and foundation grants for business development in affluent societies.

Business grants – government gifts to entrepreneurs:

Government business grants for business development to give farmers access to seed and viable way to finance growth, which will become an important requirement to increase the demand for the product or service. The money for scholarships for business development enables business growth, to thrive and flourish. Awarded to, machinery and equipment, restructuring, additional working capital, a large recruitment and training of high level and inventory. Who can? Well, someone already has, or wants to start a legitimate business venture operating grant! The government has offered money to entrepreneurs, regardless of the company. This eliminates the need to tap banks and other lenders.

Recipients of the grants for business development:

Millions of subsidies for business development is extended to women, people with low income and minority entrepreneurs. Funds are also available as a start-up grants to businesses or existing businesses to grow, to ensure the continued success of risk. There are also companies that have prospered by giving subsidies to companies investing in real estate. Grant applications are available from federal, state, local governments and territories and advice.

7 Business Development Marketing Tips For Social Media

You would have heard so many marketing experts telling everyone to use social media as part of their promotional marketing mix. The Internet is flooded with information on using Facebook, Twitter and other social sites. Numerous articles have been written on how using social media can help promote your brand image and how it can generate web traffic for your main business website.

Keep in mind that that social networking is a marketing tool and it is only effective when used properly to promote your business.

The key question for a business is “How is social media harnessed to generate real revenue and customers?” In today’s digitally connected society your customers regardless of their age, gender or economic status will be active on social networking sites.

Here are some of the latest usage statistics on social media use that will make a business take notice:

  • 68% of small businesses will increase their social networking marketing efforts in the next year
  • 56% of Twitter users say they use the micro blogging site for business or work related purposes
  • Over 40% of people have become ‘friends’ with or ‘like’ a brand/company on Facebook or MySpace
  • 20% of tweets are about business products
  • 46% of Facebook users say they would talk about or recommend a product on Facebook
  • 44% of Twitter users have recommended a product
  • Social media played a major role in holiday shopping – 28% of shoppers say social media has influenced their purchases

On the Facebook site alone:

  • More than 400 million active users
  • 50% of active users log on to Facebook in any given day
  • Average user has 130 friends
  • People spend over 500 billion minutes per month on Facebook
  • There are over 160 million pages, groups and events that people interact with
  • Average user is connected to 60 pages, groups and events
  • Average user creates 70 pieces of content each month
  • Males and females almost equally use social sites (47% vs. 53%)
  • 61% of Facebook users are middle aged or older, with the average age being 37
  • 18- to 24-year-olds don’t dominate any particular social networking site; they’re spread out all over
  • More than 25 billion pieces of content (web links, news stories, blog posts, notes, photo albums, etc.) shared each month

The participation of your business in social networking should be self-evident, however, many businesses will go on to set-up social media sites and make no effort to participate and engage in the groups that their potential customers use.

To be successful in using social networking your business must find out where your potential customers spend time on these sites so that you can engage with them where they prefer and not where you prefer or are comfortable with. Participation and engagement with their social networks will form a platform from which to build relationships with communities of interest. This in turn will provide a new customer acquisition channel using the share and like capabilities of the social networking world. This “sharing” is the equivalent of word of mouth in traditional marketing.

Here are the 7 Business Development Marketing Tips for using Social Media:

1. Go where your customers are and not where you are comfortable

To find your customers on social networking sites consider the following:

  • Conduct a survey among your customers or potential customers.
  • Analyse and monitor traffic on social sites to discover how and where customers are sharing information about your business and your competitors.
  • Review marketing research or statistical information on the usage and demographics of the different social media sites.

2. Engage and interact

Social-media engagement is a conversation and your participation in the social network groups and communities is core to building relationships. Your value as a participant is judged by the value that you provide to the community as a whole. You can achieve this by freely sharing relevant, interesting and useful information

3. Research your competitors’ activities

You need to gather competitive information that can help your efforts. Conduct a competitive analysis of your top five competitors’ use of social media for the following:

  • The social networking sites that they actively participate
  • The type of content they publish
  • The number and type of followers, fans and views
  • The products, programs or events promoted

4. Release offers and programs that are exclusive to your social networking channels

You must give importance to your social media with exclusive offers for these promotional channels. This will entice potential customers to share with their networks the offer that is not available from other marketing channels.

As an example, provide offer an exclusive offer for your social media channel, such as discount coupon or voucher.

5. Social media participation requires authenticity and transparency

The words “authenticity” and “transparency” are a bit overused today, however, these are cornerstones to be successful with social networking. Be a real human being in your interactions. This is the foundation to build trust and connections with real people on social media groups and networks.

6. Look for value opportunities in selling through social networking

Take the opportunity to leverage social media in selling your products and/or services by offering relevant items that are of value to your followers. Make it easy for them to make the purchase from these social media channels.

7. Always test and refine based on results generated

Social media programs as a marketing channel are not exempt from testing and refining your messages and offers. You must make the effort to test, gather results and analyse how it can be improved before launching the program to the entire channel.

Apply these 7 Marketing Tips for using Social Media to give you the foundation for success building and growing your business using these communication channels.

The Business Development Process

Starting a new business is far more than simply hanging a sign out and waiting for customers to pour through the door and I’m sure anyone willing to invest in a new venture is well aware of this fact. What you may not be aware of is the intricacies of what is needed to complete the process.

Most entrepreneurs who are planning a new venture first look to the business plan as the initial step. While the business plan is critical for the success of the new venture, it is not the first step in the process. We must first look at the business development process itself.

The process is not static. What I mean by that is it is not something you do up front and then you’re done. It is an ongoing process that will take on many forms in the life of your business. In a new business development it is a visionary process, in which a direction for the venture can be identified and a systematic and orderly processes can be established as part of the overall business plan.

The process should be thorough but not overly-complicated. An effective business development approach is to encompass several major steps in the evaluating process including: your identification of the opportunity; what are your committed resources; the actual development of your business proposal; market evaluation; competition; and your time restraints. A successful business development process is being able to get a clear and concise evaluation of the inherent strengths and weaknesses, goals and issues that face the development of your new venture.

One very important part of the whole process is creating an identity; designing a logo and establishing brand recognition, and product awareness.

Regardless how much you know about the business your in the development process will be an incredible learning experience.