- Career Planning
Business Development Manager Spotlight
Business Development Managers help their company reach new heights. They can make something out of nothing. They find new business opportunities, new markets, new partnerships, new ways to reach existing markets, or new product or service offerings that will help business grow.
What a typical day looks like:
Business Development Managers keep their finger on the pulse of the oil and gas markets. They know what is popular and what their company’s competitors are doing. They work closely with representatives from their company’s engineering, operations, legal and sales teams to fully understand the development, marketing, transportation and pricing considerations for each product and service their company offers. Then they develop a strategy focused on new or better ways to sell it.
At the heart of it, Business Development Managers recognize and create business opportunities. They build strong relationships with existing customers and partners and generate leads with potential business partners. They attend events, network and respond to incoming leads. They also negotiate pricing with clients, vendors or distributors.
Depending on the size of the company, the role of a Business Development Manager may change. In smaller organizations, particularly in the oil and gas services industry, Business Development Managers are often responsible for generating sales of products or services to new clients as well as to maintain and grow existing client business. In large organizations, usually in the exploration and production sector, they often lead commercial activities through each stage of a project and are responsible for deliverables such as business optimization, mergers and acquisitions and organic growth opportunities.
The kinds of problems Business Development Managers solve at work:
Business Development Managers are focused on building business. As they look at market trends and client relationships, they can identify issues that may derail business development opportunities. They then work closely with other groups in the company, such as the company’s legal team, to find solutions for potential problems.
Skills used most on the job:
Business Development Managers have very strong communication, collaboration and interpersonal skills. They are also strong project managers who are able to research, analyze data and negotiate.