Business DevelopmentCareer Overview:Business development, or "biz dev" as it's known to insiders, is about growing your company's bottom line. The business development professional's job is typically to identify new business opportunities, whether new markets, new partnerships with other businesses, new ways to reach existing markets, or new product offerings. or services to better meet the needs of existing markets. then exploit these opportunities to generate more revenue. Business development is a cousin of marketing and sales, and even when an organization doesn't have a standalone business development department or professionals with the phrase "business development" in their job titles, you can be sure have people in one or both of these departments take on business development responsibilities. You can find business development jobs in every industry, from tech start-ups to large pharmaceutical companies. Exactly what the job entails depends on how established the company is and its business model. What you will do: Your work in business development may involve some or all of the following: The first aspect of the business development professional's job. generally involves identifying new business opportunities. This means several things, in terms of what you will do. First, you'll need to keep up to date with what's happening in your industry: what your competitors are doing in terms of product and service offerings, pricing, marketing strategies, etc. Second, you'll need to make sure you understand what your business does on an ongoing basis: understanding your business strategy, how your business compares to its competitors, and how your business is perceived in the community. of paper......use company money to fund outside start-ups. In this way, strategic planning can be a bit like working in the venture capital industry. For example, when high-tech companies invest in high-tech start-ups, strategic planners can conduct due diligence on potential partners, determine how much to invest in a particular company, and negotiate an ownership stake in a company. Compensation: Compensation will vary depending on the industry you work in, as well as the specific responsibilities and the knowledge and experience required for your job. Here are some examples of salary ranges for business development roles in various industries: · Biotechnology Business Development Manager: $80,000 to $110,000 · Commercial Lending Business Development Officer: $45,000 to $100,000 · Business Development Associate: $40,000 to $80,000 · Business Development Director: $100,000 to $160,000