High School

The ability to communicate is extremely important for business development professionals, so be sure to take English and speech classes. Foreign language classes will come in handy if you end up working for a company that does business internationally, and joining the debate club will help you to develop your powers of persuasion. Psychology classes will provide you with an understanding of human behavior. Classes that help you to develop your critical-thinking skills—such as history, philosophy, and social studies—will also be useful. Other important courses include business, economics, marketing, and computer science.

Postsecondary Education

A minimum of a bachelor’s degree in business, finance, marketing, sales, project management, or management consulting is needed to work in business development. Many firms prefer to hire those with master’s degrees in business administration. Business development managers and directors who are employed by tech companies may need degrees in computer science, software or hardware engineering, or database administration.

Other Education or Training

The American Marketing Association, Institute of Management Consultants USA, American Management Association, Association of Proposal Management Professionals, Sales Management Association, and other organizations offer webinars, workshops, and classes that might be useful to business development professionals. Contact these associations for more information.

Certification

Certificates in sales, marketing, business strategy, and communications are available through professional development programs offered at colleges and universities throughout the United States.

Certification or Licensing

The Association of Proposal Management Professionals offers voluntary certification to those who work in a bid and proposal environment. There are several levels of certification. Applicants must meet experience requirements and pass an examination. The Sales Management Association also offers certification. Contact these organizations to learn more.

Business development directors need 10 years of experience in lower level business development or sales positions. Managers must have at least five years of experience as associates or in deal-making positions at corporations, private equity firms, investment banks, or related employers. Ideal candidates have a proven track record of developing customer relationships and maintaining a steady deal pipeline.

Successful business development professionals have excellent communication, interpersonal, and negotiation skills. They also have strong presentation skills and powers of persuasion because they will first need to convince their superiors about the potential payoff of a proposed deal or strategy, and then convince the potential partner that the deal will be lucrative and beneficial to both parties. Other important traits include good quantitative, analytical, and research skills; determination; strong business and financial acumen; leadership ability; creativity; attentiveness to detail; an entrepreneurial mindset; the ability to handle pressure and meet deadlines; and proficiency in the use of spreadsheets, financial modeling software, and customer relationship management software.