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What Is a Business Development Executive

Now, the first thing we had to do, is we need to define what exactly a business development executive is. The definition is a role in an organization responsible for growth and customer acquisition.
What Is a Business Development Executive

Now, this type of role is primarily focused on B2B business development and sales. So that's very different from B2C, right? So business to business is when you're a business selling to another business, business to consumer B2C is when you're a business selling directly to the consumer.

That would be, for example, you know, when you buy something from a retail store you know, you just go into a shop to buy something cheap.

But when you're selling business to business, you usually are selling something more expensive that only businesses would buy and it's not something individuals would purchase.

For example, expensive software that would cost $10,000 a month. Only a business would really buy that, right?

And so when you are a business development executive, you're the person at a company essentially trying to grow the business using B2B methods.

And a business development executive, is a person who is really doing all the hand-to-hand combat. They're the ones in the trenches talking to the customers and really they're the ones that have their pulse on the market.

And although being in business development can also be an entry-level role, you do have a lot of responsibility because you're essentially the representative of a company, trying to start a conversation with another company to see whether or not they would be interested in buying your products or services or partnering up with you in any way. 

And now the business development executive role can go by many different names depending on your industry and company.

So some common names that are used interchangeably are business development representative, business development manager, maybe just business development, or even sales development reps.

So essentially all these roles, although there are different names, they pretty much do the same thing. There might be slight variances and differences depending on the company you're working at.

So don't worry too much about what the name is, focus on when you're looking at, let's say the job listing, what exactly is the day-to-day going to look like?

And that's gonna give you a really detailed look on exactly where you're gonna be doing. So now that you got a general understanding of what a business development executive is, let's go deeper into exactly what the day-to-day is like and specifically what you'll mostly be doing, is sales prospecting and lead generation.

So like I was saying before, what this really means is that you're the person, as a business development executive, who is going to reach out to customers and figure out who's gonna be the best fit to buy your product or services, or the best fit for your company to partner with.

And the first step of all of this is actually just to create an ideal customer profile. So being a business development executive is all about first doing your research, understanding exactly who exactly you should be targeting, right?

Because you can have, let's say the best product or service in the entire world, but if you're trynna sell it to the wrong person, well, they're not gonna spend any money with you because they never needed your solution in the first place.

That's why, you know, it takes some intelligence to be a business development executive, because you have to really think about who exactly should buy my products and services, right?

And some strategies you try are gonna work really well, some strategies you try, aren't gonna work at all. And you know, it's a trial and error process a lot of the time.

So for example, you're gonna have to come up with a lot of different ideas when you're trying to work for the businesses, right?

So you might think, okay, you know, today I'm gonna target casinos in the West coast of America that has a revenue of 10 million and above.

And that just might be an idea that you've thought of based on, you know, previous customers, but you have no idea if it works.

So what you do is you have an ideal customer profile, define who these people are, why they should buy, you build a list of all the companies that fit this profile.

So maybe you might be able to list up to 20, 50, 100 people that fit this ideal customer profile, and then what you would do is you would find all the key decision-makers at these companies, who, you know, you want to generate a meeting with and have a conversation to really see whether or not they wanna buy.

From there, once you have the companies, all the decision-makers at the company, the next step of the process is actually to do outbound lead generation.

So you got your list, you got the people, next, you have to contact these people. Usually, it's cold, meaning that, you know, if you're working at a company and you're trying to reach out to another company, they probably have no idea who you are, and they never heard of you before, but that's okay.

Because what you wanna do is you want to either send a cold email, LinkedIn messages, or you wanna a cold call, and which one you should use really depends on what works best in your industries.

In some industries cold emailing works extremely well, you can just stick with that. In other industries, you might have to be cold calling a lot and people don't really respond to emails, right?

So it really just depends on what's the industry norm at the company you are working at.

And the whole goal of these activities, whether it's a cold email, LinkedIn, cold calling, is really just to generate a meeting either in person or over the phone with a potential customer that you wanna work with, and you wanna see whether or not they are interested in working with you.

And that actually takes us to the next step of the process, which is to qualify your prospect, right?

Now, the prospect is somebody that you have identified who might be a good fit for your product and service, but just because you feel they're a good fit, doesn't mean they actually are a good fit.

And that's why it's a business development rep's job to qualify this prospect. So once you generate the meeting, typically if you're working at a large organization, let's say like a Google or Microsoft, or Oracle, what you gonna do as the business development person, right?

Or sales development, right? Who generates the meeting, we'll take a phone call with whoever you get the meeting with.

And on that phone call, you're not trynna sell them anything, you're just trying to qualify.

Meaning you're trying to see, you know, what their pains are, what their challenges are, and see if your products and services can actually solve their problems, right? That's qualifying.

You're not selling quite yet, you're just trynna see if they would even have a possibility to buy your products and services.

So in the example, let's say you are targeting casino companies in America, on the West coast, you would want to talk to someone like the director of marketing or the VP of marketing to see whether or not they would want to buy something from you.

And when you get on the phone, let's say with the VP of marketing, you just wanna ask them a bunch of questions to see you know, what their challenges are, what their pains are, and try to see whether or not they will be a fit to buy your product and service.

Now, if they are a good fit after let's say a 15-minute call or a 20-minute call, then what you wanna do is schedule another meeting, where you go more in-depth on their challenges and you know, what problems they have.

And what you would do is you would invite their team, all their decision makers, and you would also invite your account executive, meaning that's the more senior sales person who is gonna come in to try to close the deal and build the relationship with the potential customer, right?

And so now you've got all these people who are coming into a meeting and you're trynna see whether or not it actually makes sense to work together.

But before you even get to that bigger meeting, you know, as a business development executive, you're gonna have to set that meeting up, right, get the first meeting, qualify the customer and set them up, and schedule the next meeting for everyone to have a conversation.

So if you are a business development executive, and it really it's like an entry-level role, whether you have zero experience or maybe one or two years of experience, maybe your whole entire job is to generate meetings, qualify the customer, schedule the next meeting, bring in your senior sales person after that, and then they will take it from there.

And your job is really just to get the conversation going and pass it along to your company.

Now, that's how it typically works in larger organizations where specific people are doing every little step of the sales process, right? Whether it's generating a lead or closing a client, there might be two different people.

Now, if you are working at, let's say a smaller organization where they don't have so many different salespeople, you might actually have to generate your own meetings, and then you might have to be the account executive at the same time and close your own deals.

And doing these two things at the same time is kinda difficult. When I saw it at Oracle, I basically did that, but it is possible, because you just have to learn two different skill sets at once, which is lead generation and closing deals.

So let's go ahead and give you an example of what a business development executive job looks like, If you let's say are working at a tech company, right?

So right now I'm on the website, which is a website where, you know, a lot of startups are hiring. As you can see here, we're looking at the business development representative.

And like I said before, business development rep, business development executive, pretty much the same thing.

They're just using different names for it. But you know, the job itself, when you look at the job in prescription is exactly the same.

So Grammarly is basically a website where, you know, you put in some texts and it fixes your grammar. I actually use this product. They don't pay me to say that, I've been using them for years actually.

And I'm guessing that if they had a business development representative job, they're probably trynna and go into enterprise.

So meaning that, you know, if somebody is paying just like 100 bucks a year, right?
$10 a month for example, and they get into, let's say a big company they sell, let's say 100 seats.

Well, 100 people times $100 per year is a lot of money. So that's why it makes sense to have a business development representative try to reach out to a lot of big companies and sell these large enterprise packages where they get one deal, it's thousands of thousands of dollars per year.

So that's a business development representative, right? Basically expansion of Grammarly's developing enterprise product, as I said before, so my guess what's correct.

And you wanna look at this part, you know, collaborate, test new ideas and approaches, right?

So pretty much, like I said before, you gotta qualify leads. So meaning you gotta, you know, cold call people, send cold emails and talk to them, qualify the customer before they actually move forward to an account executive.

You work with the sales team,bwhich is the account executive, marketing, product, right?

And you're the person who's really talking to the customer. So you're gonna give all this valuable insight and research back to your team.

And like I said before, uncover the prospect's business challenges, identify new relevant business opportunities, right?

So essentially, you know, whether you look at, you know, this job description with Grammarly or anybody else, and then let's say who we're looking for, basically, it's all about your attitude, right?

You don't necessarily have to have so much sales experience but for this one, it's kind of interesting. It says has at least two years of hands-on sales experience,
but it's an entry-level job, which is kind of weird, right?

I think a lot of companies do that. They ask for a lot of years of experience for an entry-level job, which doesn't really make sense.

But if you have customer service experience, maybe you're a customer service rep or something like that, or any kind of experience where you are, let's say, you know, talking to people, even if you don't have tech sales experience, you can still use your your attitude, your personal, and your experience working with people and apply it to a job like this. 

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And the most important thing is really open to feedback and coaching, because you're basically gonna learn everything on the job. So like I said before, really the main job is to identify companies, right?

Prospecting, building lists, reaching out to them, cold calling, cold emailing, qualifying them on the phone, and moving it to the account executive, and that's pretty much the row.

And, you know, for a job like the one we just described, they're paying between 70 to 95 KOTE, meaning you get a basic salary, maybe it's like 45K base salary, and then 30K commission if you hit 100% of a quarter, that's just my guests, and which is pretty good, that's almost 100K just for doing like an entry-level sales job. And so that's it.

That is pretty much what a business development executive is and pretty much what they do on a day-to-day basis.

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