A business development manager creates value by building meaningful relationships with various stakeholders, bridging the gap between the company and its customers and helping customers understand and make the most use of the products. For businesses, digital transformation often requires long-term budget commitment and software service providers might also have access to many confidential information. Therefore, in the hi-tech industry, a business development manager needs to have more skills and insightful knowledge. Here are the top 5 most essential skills to learn:
Solid technical knowledge
To comprehend the pain points of the businesses and communicate their requirements effectively to the development team, it is crucial that the business development manager has knowledge both in the business domain and on the technical side. He/ she should also have a firm grasp of available digital products/ solutions and technologies to offer the most impactful consultations to the businesses using suitable technological stacks at reasonable costs. Moreover, as technologies constantly evolved, the business development manager must keep himself/herself abreast of the latest development to ensure the highest product quality.
Entrepreneurial mindset and a can-do attitude
A deal in the software industry can be worth from thousands of dollars to millions of dollars. Hence, competition among rival companies is fierce and the pressure is very high on the sales team. Business requirements have also become increasingly more complicated, focusing on both the frond-end and the back-end of the software and demanding for pixel-perfect user interface and intuitive user experience. Consequently, the business development manager has to maintain a positive attitude and be entrepreneurial and creative in coming up with innovative proposals for his/her clients to compete in a very challenging and competitive field. Eventually, technologies aim to support people in solving complicated problems.
Relationship building and nurturing
Generally, business development is about relationship-building. Nonetheless, in hi-tech industry, this skill must be taken to the next level. Except for tech-born companies, most existing businesses have been in operation for a long time and have since developed and taken pride in their own set of management and operation techniques. Hence, in many cases, the business development manager needs to nurture the relationship and patiently wait until these business owners realize how digital solutions can enhance their competitive edge and help them thrive in a new modern playing field. Additionally, after the companies adopt the new tech-products, they also need to be consulted on transition management to guarantee smooth operation and facilitate resistance to change. Throughout this long customer journey, trust is the key for the business development manager to win the deal and provide a pleasant experience.
Multi-cultural management skills
Unlike other industries, it is very common for a hi-tech company to work with various stakeholders including software engineers, suppliers, partners and customers around the world – probably one of the reasons why hi-tech companies can maintain stable sources of projects, revenue and income. People across borders have different values, belief, expectations, motivation, way of working, communication style, and preferences. Therefore, the business development manager must be able to appreciate the cultural diversity, keep his/her biases in check and resolve cultural conflicts among different stakeholders.
The business development manager is often responsible for growing and coaching the sales and marketing team, designing an effective sales plan and strategy to acquire lucrative projects and sales pipeline, and enhancing the company’s brand in the local and international market. As a result, the business development manager should be visionary, inspirational, critical, experienced and empathetic. For the new generation, they are often motivated by transformational leaders who lead by examples and encourage their team to go beyond the call of duty to contribute to the shared vision.
Sioux High Tech Software (HTS) – a subsidiary of Sioux Group, headquartered in the Netherlands, is one of the best mobile app development companies in Vietnam. At Sioux HTS, we focus on the website, mobile apps, windows and universal app solutions for the Health-tech, Agri-tech, Edu-tech industries. Our technology competence is in the .Net Core and MERN (Java) Stacks.
We are currently looking for a Business Development Manager. For a full job description, please click: here