What are key skills for business development?

[Toyoabasi]

Key skills to my business development so far are;
Good communication between me and my customers.
Rebranding of my products.
Attending business seminars.
Investing.
Good organisational skills.
Etc

I have learnt so many skills as it pertains to business over the course of my business. Organizational skills, persuasive skills, marketing skills and communication skills are basic skills business owners should have.

 

[Immilash1]

Capitals and plans are the very important thing we need before starting a business. I think business plan is much more important than capitals.

 

[Sotherefore]

Good communication skill is a very important because this will help you understand the need and what your customer will desire from you.. proper management and ability to control emotion is also very important for business development.. And also money.

 

[Heatman]

There are a lot of keys to business development some of which are; enough capital, relationship, man power, expansion opportunity, understanding the market, ability to get the product to the customers in time and consistent in the products and services quality and quantity.

When you are talking about business development you are definitely talking about the marketing advertising of your business because it is one of the way you can actually develop the business into making good profits.

 

[jay]

Below are the key skills and characteristics that you must be able to exhibit if you are looking to progress your career in business development.
* Creative skills.
Whether it is seeing new ways existing opportunities could be developed, or finding completely new routes to market, creative thinking is essential for the role.

*Analytical skills.
For business development, however, this creativity must be built on the bedrock of an analytical mind. You will need to use market research and sales data to present opportunities to stakeholders and you will need to quickly understand what makes commercial sense to pursue and what could potentially cost more to explore than it could ever bring in.

*Communication skills.
Business development is not for those who like to work alone.
You will need to obtain support from senior management, marketing, finance and product or service teams. You may be required to coordinate with account managers and sales teams whose traditional priorities and focus lie elsewhere.

* Negotiation skills.
New business always requires new terms, and it will be your responsibility to ensure that the terms agreed upon are favourable to your organisation. Communication skills will gain you a foot through the door – but having negotiation skills will ensure the door is kept opened for future growth.

Analytical skills and Negotiation skills are very important when it comes to your business because it will help you to know exactly the kind of investment to go into and know how to negotiate to get a very good profit in return.

 

[Good-Person]

Good communication skill is a very important because this will help you understand the need and what your customer will desire from you.. proper management and ability to control emotion is also very important for business development.. And also money.

Money management is very important because money is the main source of any business and a manager who fails to manage money is less likely to manage cost of the business and manufacturing cost.

 

[kayode10]

You need a fundamental financial skills if you want to make a headway with business building. You must also have a basic knowledge about marketing as this will help to drive consistent sales for your business.

 

[Sotherefore]

Money management is very important because money is the main source of any business and a manager who fails to manage money is less likely to manage cost of the business and manufacturing cost.

When people are starting a business, it is important thing to employ an accountant because an accountant will be the one to help in terms of money management, as we all understand most business owner may not have time to check out every business transaction that is going on in the business organisation.

 

[Godspower]

When people are starting a business, it is important thing to employ an accountant because an accountant will be the one to help in terms of money management, as we all understand most business owner may not have time to check out every business transaction that is going on in the business organisation.

Good accounting skills or better still hiring a good accountant is better. But skills like good communication skills and excellent negotiation skills are also very important.

 

[Sotherefore]

Good accounting skills or better still hiring a good accountant is better. But skills like good communication skills and excellent negotiation skills are also very important.

Negotiations skill ? I think this skill is really needed if you engage in a business which involves serious buying and selling example of business that need excellence negotiation include real estate, car dealers but most business that deal with production of goods and services may not need this.

 

[Laurentta]

There are alot of skills one needs to acqire before starting a business. Skills like managerial skills, communication skills, leadership skills and so many others.

 

[Godspower]

Negotiations skill ? I think this skill is really needed if you engage in a business which involves serious buying and selling example of business that need excellence negotiation include real estate, car dealers but most business that deal with production of goods and services may not need this.

I agree with you. Negotiation skills are really important in big businesses that the prices of the products are variable. If you're able to negotiate expertly, you will be able to make profits from your goods.

 

[Heatman]

Below are the key skills and characteristics that you must be able to exhibit if you are looking to progress your career in business development.
* Creative skills.
Whether it is seeing new ways existing opportunities could be developed, or finding completely new routes to market, creative thinking is essential for the role.

*Analytical skills.
For business development, however, this creativity must be built on the bedrock of an analytical mind. You will need to use market research and sales data to present opportunities to stakeholders and you will need to quickly understand what makes commercial sense to pursue and what could potentially cost more to explore than it could ever bring in.

*Communication skills.
Business development is not for those who like to work alone.
You will need to obtain support from senior management, marketing, finance and product or service teams. You may be required to coordinate with account managers and sales teams whose traditional priorities and focus lie elsewhere.

* Negotiation skills.
New business always requires new terms, and it will be your responsibility to ensure that the terms agreed upon are favourable to your organisation. Communication skills will gain you a foot through the door – but having negotiation skills will ensure the door is kept opened for future growth.

Negotiations is very important skill in business especially when you are into selling of services to reserved customer base. They will be influenced and pressure to pay.

 

[Kaffyfolla]

The core responsibility of a business developer is growing a business. ... In most cases, you'll need experience in sales, marketing or business management. Certain skills are also vital to your success in this field, including those in sales, communication, negotiation, marketing, data analysis and project management

 

[Good-Person]

When people are starting a business, it is important thing to employ an accountant because an accountant will be the one to help in terms of money management, as we all understand most business owner may not have time to check out every business transaction that is going on in the business organisation.

It is very hard or even impossible for a single businessman to handle a big business and this is the reason why people usually hire supervisors, accountants, and managers to manage their business. Every accountant is accountable to manager.

 

[Sotherefore]

It is very hard or even impossible for a single businessman to handle a big business and this is the reason why people usually hire supervisors, accountants, and managers to manage their business. Every accountant is accountable to manager.

But the problem here is that why can't they just have to manage their business on their own without having to involve those people ,? because as long as they don't have something they are doing I believe they should rather concentrate in their business than to hire someone to handle it for them.

 

[Good-Person]

But the problem here is that why can't they just have to manage their business on their own without having to involve those people ,? because as long as they don't have something they are doing I believe they should rather concentrate in their business than to hire someone to handle it for them.

Well, I am sure that managing a really big organization by a single person is almost impossible. A small business is manageable by a single person, but a big business is really hard to handle and this is why they tend to hire people.

 

[Sotherefore]

Well, I am sure that managing a really big organization by a single person is almost impossible. A small business is manageable by a single person, but a big business is really hard to handle and this is why they tend to hire people.

Well there is no problem in hiring people to work with ,and the most important thing is trust because that is what is needed in any business ,without trust it is impossible for us to succeed.. will you manage your business on your own or will you hire someone to help you manage the business ?

 

[greenie]

There is no special skill in business that will guarantee success you should not be deceived that business is magical or can be made to work based on theories to be diligent in your work then you could see an improvement over you have to embrace the new world of social media into your business in order to be successful you should not maintain

 

[Ononivami1]

You have made valid points on the skills that one should get inorder to make success in the business. The skill to learn should be very relevant and related to the niche that you choose.