What are the responsibilities of a business developer?

A business developer defines and develops new lines of business, new markets, niches, partnerships, and sales channels. This specialist must have extensive knowledge, high leadership qualities, and flair to determine the most influential directions for developing a particular business.
Responsibilities of a business developer
Each company, depending on the internal structure and priorities, defines the functions and responsibilities of a specialist in its way. Thus, the key responsibilities of a specialist are as follows:
selection of the most exciting and priority areas for the development of the company;
development of relations with partners;
research of markets and competitors;
tracking the latest trends;
identifying new opportunities;
improvement of products in cooperation with the team.
A typical working day of a business developer includes many different types of professional activities that are aimed at developing business activities.
The specialist conducts careful work on the development strategy of the main areas of activity. He is engaged in communication with the team, clients, and partners. The specialist is involved in forming commercial proposals, contracts, and analysis of the project’s current state. He needs to study industry trends and look for relevant opportunities for business expansion.
Features and responsibilities
However, flexibility is more important in this profession than a schedule: a business developer is completely tied to his current transactions. Accordingly, he is obliged to respond to all changes in time and promptly solve problems.
In the future, a business developer may take responsibility for the team and become a director. He can also move to higher positions related to strategic planning and decision making and open and develop his own business.