Required and desired skills
The Director of Business Development should have great negotiation and conflict resolution skills. They should also provide exceptional communication and interpersonal skills. A good Director of Business Development will also be very good at multitasking, while also being proficient in multiple office software solutions.
Some previous experience in management, business development, marketing and sales can be extremely beneficial. The Director of Business Development also needs to be an avid learner, he should know how to create and present important business documents as well. Knowing how to collect, collate and present information is another crucial skill to take into account.
Aside from that, the best Director of Business Development will always have a very strong business acumen, exceptional leadership skills, while excelling at things like problem solving. Any research and strategy skills are a must-have, with networking skills being a major, desired skill that can make any candidate stand out.
Every company might have a different education requirement when it comes to the Director of Business Development. But in general, the expectation from any candidate is to have a bachelor’s degree in marketing, business, sales or any other relevant field. Usually, the candidate needs to have an MBA, a doctoral or master’s degree within these fields.
It’s possible to become a Director of Business Development if you have a degree in business law, economics, management, statistics or any business-related field. Accumulating experience within the business world can also help candidates gain the upper hand and surpass competitors.
A day in the life of a Director of Business Development
The day to day life of a Director of Business Development will vary, but it’s usually full of meetings, reviewing briefs, talking with the teams and establishing business strategies. A lot of the time, the director will also work with their team to develop contracts and client budgets, create proposals, but also find new potential business partners.
It’s very common for any Director of Business Development to attend a lot of industry events and connect with potential clients or business partners. A lot of the time, this position is about networking and constantly presenting your business and its results in a way that’s very professional, but also appropriate within this niche. Identifying ways to speed up business performance and integrating AI or other software solutions is also on the radar of any Business Development director.
Salary range and benefits
The Director of Business Development has a base salary ranging from $177k to $223k, but it can be more or less depending on the business. When it comes to benefits, these tend to include 401(k), disability, dental and health insurance. Some companies also provide vision insurance, among other individual benefits.