While some companies use the term “business development” to refer solely to sales or high-volume sales, the field is generally thought to be a mix of sales, marketing, and strategy. As a result, you’ll want to gain experience in each of these areas and learn how to combine them effectively in order to gain business development experience. You’ll probably be best served by combining education and real-world experience, but keep in mind that you might be able to gain experience in a variety of unconventional ways as well.
Future employers will see that you have been exposed to a variety of business concepts and functions as a result of your education and training. They can also help you gain valuable experience in business development. Work-study programs, internships, and even class projects at business schools can help you learn more about business development in a real-world setting. If you decide to enroll in a formal business school or training program, you should take advantage of as many opportunities as possible, as you will learn a lot and the experience will help you build your resume.
You’ll want to gain experience in areas related to business development after graduation or if you decide formal education isn’t for you. Because many sales positions are entry-level and require little or no experience, it is often the easiest to obtain. However, keep in mind that the majority of true business development jobs are in the B2B sector, so get some experience selling to other businesses if you can. Look for sales positions that allow you to sell customized solutions based on a client’s needs rather than stock products whenever possible. This allows you to learn and practice strategy skills, which are an important part of business development.
Marketing is an important part of business development and is often more strategy-oriented than field sales, so take advantage of any opportunities you have to work with or in marketing. In many cases, sales positions collaborate closely with marketing. Some companies will also allow you to transition from sales to marketing or vice versa.
While traditional employment and education are the most common ways to gain business development experience, you should also look for non-traditional opportunities. Project managers, for example, frequently work closely with existing clients and may have the opportunity to soft sell additional products. You can demonstrate that you understand strategy, can form good relationships, and can sell if you can do it with a high-impact client or a high-profit product. These are all important factors in business development. Volunteering to raise funds for a local charity, especially in a role that involves working with corporate sponsors, can also help you gain experience.