Chief Business Development Officer
The Chief Business Development Officer supports business growth processes in his leadership position over the business development department, where he oversees the activities and performance of all departments. He reaches out to potential business prospects through telephone, emails, and technological platforms such as social media.
He focuses on the development and growth of the business through building relationships in the industry, identifying opportunities, and completing business deals. The Chief Business Development Officer combines strategic thinking and sharp executions coupled with relentless ambition and energy, which will enable the business to reach targets, goals, and attain objectives.
The Chief Business Development Officer essentially ensures the successful delivery of the business’s outcomes through the strategic development of business plans.
Objectives and Responsibilities of the Chief Business Development Officer
Leadership/Supervisory Role: The Chief Business Development Officer primarily plays a leadership role within the business being the executive in charge of the Business Development Department. In his leadership position, the Chief Business Development Officer manages all activities of the Inhouse Consulting, M&A, and Strategy Planning departments, ensuring that all activities are adding value to the business.
He is also responsible for the direct management of key marketing and communications objectives aimed at maximizing new business effectiveness, for example, PR, digital, and so forth. The Chief Business Development Officer also manages and prioritizes the business’s pipelines. He additionally oversees the generation of proposals that are suited to prospective clients’ with the support of the marketing and design teams.
The Chief Business Development Officer supports the business development team by providing support to individual departments, inclusive of overseeing key member recruitment and training, hence, ensuring a consistent stellar performance throughout the business development department.
In this position, the Chief Business Development Officer plays a key mentorship role to key business development personnel, assisting in the execution of their duties upon request, and promoting the constant development of their professional skills, readying them to take up his position in his absence or retirement.
Strategy: The Chief Business Development Officer is also tasked with a leading strategic role where he executes outreach strategies by prospecting new businesses in order to utilize all available channels, inclusive of; LinkedIn or other business platforms, social media, telephone, email, and events. The Chief Business Development Officer is responsible for the establishment of strategic frameworks for capitalizing on identified opportunities across the business and approaching new prospects.
Collaboration: The role of Chief Business Development Officer is also a highly collaborative position where he works closely with all key members of the business development team, and assists with execution of sensitive and high-value tasks as and when required. The Chief Business Development Officer also works with the business’s senior executives and stakeholders in overall strategy formulation and in ensuring that departmental strategies are aligned in order to safeguard against conflict of interests as well also guarantee a unified front in the business’s direction.
The Chief Business Development Officer also works with prospective business M&A executives in negotiations from conception all the way to the completion of transactions. In this collaborative role, the Chief Business Development Officer will also work with the marketing and design teams in creating engaging content that will serve to attract prospects to the business.
He additionally works with the HR department in establishing the hiring and recruitment criteria for the business development department, maintaining a consistent and high departmental performance standard.
Relationship Management: The Chief Business Development Officer builds and maintains relationships with departmental heads and executives across the business for the purpose of imparting useful strategic insights and in an attempt to ensure the successful outcome of business initiatives and projects across the business.
The Chief Business Development Officer will also establish and maintain direct contact with prospective M&A business leadership as well as the business’s consumer base in order to secure value for the business from these relationships and identify new opportunities for further business growth.
Opportunity: The Chief Business Development Officer stays vigilant and keeps an eye out for any opportunity that may arise. In this capacity, the Chief Business Development Officer targets prospects by putting out relevant content and managing production of key thought leadership content and case studies.
He is also responsible for the identification of new business opportunities through digital channels such as e-commerce, online marketplaces, etc. He further spearheads the pitching of business products to new consumers and the generation of new leads.
Analytics: The Chief Business Development Officer will also play an analytical role where he will lead the gathering of relevant statistical information across the business, conducting analyses, and the drafting of reports regarding the overall performance of activities undertaken by the business development team.
These analyses provide the business with useful insights for improved strategy formulation and informed decision-making, resulting in the improvement of performance across the business. In this position, the Chief Business Development Officer will be conducting regular performance, marketing and competitive analyses of high-value investment projects for the business in order to identify business opportunities and avail insights for strategic decision-making.
Other Duties: The Chief Business Development Officer performs similar duties as he deems fit for the proper execution of his duties and duties as delegated by the Employer.
Required Qualifications of the Chief Business Development Officer
Education: The Chief Business Development Officer has to have a master’s degree (Phd preferred) in Business Administration, Industrial Management, Finance, Economics, or any other related business field. An equivalent of the same in practical experience is also acceptable for the position.
Experience: The Chief Business Development Officer has to have had experience working in a senior business development position within a fast-paced and dynamic business environment, preferably working as a Director M&A, Director Inhouse Consulting, or Director Corporate Strategy.
The candidate will have proven and successful experience in prospecting and lead generation, leading to a business’s revenue generation and increased productivity as well as experience establishing and managing prospect databases. The Chief Business Development Officer will also have a proven ability to identify potential for valuable long-term relationships with consumers, hence encouraging retention of their business and, therefore, extended revenue generation and profitability from such avenues.
A suitable candidate will have a proven and successful ability to work with teams across the business in order to maximize the impact of overall business effort. He will be thoroughly familiar with CRM as well as pipeline management and have an equally clear understanding of financial forecasting and planning.
Communication Skills: The Chief Business Development Officer must have exceptional communication skills. This will be especially necessary for his leadership role, where he will lead and oversee all activities of the business development department. In this leadership position, the Chief Business Development Officer will need to have great communication skills that will enable him to clearly convey information and instructions down the line.
The clarity with which he conveys information down the line will determine the effectiveness and performance of the entire business development department. He also plays a highly collaborative role, interacting with the business’s consumer base and prospective M&A business leadership, which will demand clear and effective communication skills in order to facilitate successful transactions, consumer retention, continued/enhanced revenue generation, and profitability.
Ms Office: The Chief Business Development Officer must also possess exceptional technical skills in Ms Word, Ms Excel, and PowerPoint, which are all necessary for the creation of both visually and verbally engaging analyses reports and presentations, for the business’s leadership, executives, relevant stakeholders, and senior business development management.
Analytical Skills: A candidate for this position must have a passion for research and analysis, portraying strong analytical and financial modeling skills. He will demonstrate an ability to analyze large data quantities and drive due diligence. He will also need to be able to perform business performance analyses, market and competitive analyses, consumer behavior analyses across the business and draw practical and actionable insights/solutions that promote informed strategy-formulation and decision-making.
Interpersonal Skills: The Chief Business Development Officer must be a confident individual who does not shy away from reaching out to consumers and prospects; he must be self-motivated requiring minimal supervision, be a team player and have a passion for team building, be highly analytical and procedural, and be meticulous and detail-oriented.
He must also be comfortable working with both internal and external business leadership and executives, be open and welcoming to change, be a creative and strategic thinker, have exceptional problem solving skills, and have an ability to stay focused in times of uncertainty and stress inspiring the same in his team.
Leadership/People Skills: The Chief Business Development Officer must be a leader with an ability to inspire a cross-functional team as well as senior business leadership and executives in a unified direction in order to realize overall business performance enhancement.
The Chief Business Development Officer, as a representative of the business to prospective businesses and their consumers during mergers or acquisitions, must be a likable and relatable individual who will bring out a similar image of the business hence attracting these prospects and retaining consumers for continued/enhanced revenue generation, profitability, and overall performance.
JOB SKILLS REQUIRED FOR Chief Business Development Officer
- Presentation Skills
- Team building
- Emotional Intelligence
- Stress Management
- Sales Planning