Starting a Career in Business Development & Sales

Understanding the role

Business development and sales are closely related, but there are some differences between the two.

Business development is focused on identifying new opportunities, building relationships with potential clients, and expanding the company’s reach.

Sales is focused on closing deals and generating revenue.

It’s important to understand the nuances of each role and what specific responsibilities they entail.

Skills required

To succeed in business development or sales, you’ll need to have excellent:

- communication
- negotiation
- interpersonal skills

You’ll also need to be able to:

- think strategically
- identify potential opportunities
- build relationships with clients

In addition, in order to track progress and identify areas for improvement, you’ll need to be comfortable with:

- data analysis
- forecasting
- reporting

Industry knowledge

Depending on the industry you’re targeting, you may need to have specific knowledge or experience in that field.

For example, if you’re interested in business development for a DeFi company, you’ll need to have a good understanding of the DeFi landscape, trends, and competitors.

It’s important to research the sector you’re interested in and stay up to date on the latest news and developments.

Networking

Building relationships is a key part of business development and sales, so it’s important to start networking early.

- Attend industry events
- Connect with people on LinkedIn
- Reach out to potential mentors or advisors

Building a strong professional network can help you find job opportunities, learn about industry trends, and get advice from people with more experience.

Professional development

To succeed in business development or sales, you’ll need to be committed to continuous learning and professional development. Taking online courses alongside building your network will help you develop new skills while staying up to date on the latest trends and best practices.

Performance metrics

In business development and sales, performance is often measured by specific metrics such as:

- revenue growth
- customer acquisition
- conversion rates

Make sure to include your key performance indicator (KPI) achievements in your job applications to demonstrate relevant successes from your previous roles.

By keeping these factors in mind and taking steps to develop the necessary skills and knowledge, you can set yourself up for a successful career in business development or sales.