What Is The Difference Between Sales And Business Development?

Is sales and business development the same?

Simply stated, the function of sales is to sell directly to the end customer.

The function of business development is to work through partners to sell to the end customer, in a scalable way.

It allows a company to use pre-existing sales teams or communities that a partner has developed to reach new audiences..

What is Business Development Sales?

The definition of business development is generating qualified new leads. The purpose of business development (in the context of a sales team—NOT in terms of product validation) is to research, prospect and create a pipeline of targeted potential customers to pass off to sales for further vetting and closing.

What is the highest position in sales?

Below are the seven highest paying jobs you can land in the sales industry:Sales engineer. Glassdoor salary range: $68,000-$185,000. … Software sales rep. Glassdoor salary range: $50,000-$141,000. … Realtor. Glassdoor salary range: $27,000-$111,000. … Pharmaceutical sales. … Major gifts officer. … Medical device sales rep. … Recruiter.

What are the basics of business?

The key business skills to consider include:Strategic Management. Creating a business and strategic plan for your business and making sure you keep to it.Basic Accounting. Which records to keep, how to keep them and how to file them.Financial Management. … People Management. … Marketing. … Sales. … Operations Management.

Is business development a good job?

If so, a career as a business development manager could be a fantastic fit for you. … As a business development manager (BDM), you’ll develop partnerships with prospective customers or existing clients to generate new leads for the company. And your work will ultimately benefit the business and help it grow.

What are the 4 growth strategies?

There are four basic growth strategies you can employ to expand your business: market penetration, product development, market expansion and diversification.

What is the best job titles for sales and business development?

Sales Associate. The Sales Associate job title is mainly used in retail. … Sales Representative. … Account Executive. … Sales Manager. … Business Development Manager. … Salesperson. … Sales Consultant. … Sales Development Representative.More items…•

What is the function of business development?

Business development is to be thought of as a marketing tactic. The objectives include branding, expansion in markets, new user acquisition, and awareness. However, the main function of business development is to utilize partners in selling to the right customers.

What skills do you need for business development?

Key skills for business development jobs.Creative skills. Whether it is seeing new ways existing opportunities could be developed, or finding completely new routes to market, creative thinking is essential for the role.Analytical skills. … Communication skills. … Negotiation skills. … Goal-focused. … Organisational skills.

What is another name for business development?

What is another word for business development?business growthcommercial developmentbizdevbusiness planninggrowthmarketingsales

What sales position is best?

14 Sales Jobs That Pay WellPharmaceutical sales representative. … Sales manager. … Territory sales professional. … Outside sales representative. … Medical device sales executive. … Real estate agent. National Average Salary: $83,126 per year. … Sales engineer. National average salary: $92,040 per year. … Sales director. National average salary: $109,261 per year.More items…•

What is a head of business development?

The Head of Business Development (HoBD) is a full-time leadership role within the CCDC.