What is Business Development?
“Bringing technology to other companies in the world” – Patrick Steinbrenner
The role of Business Development / Sales in Tech is to sell innovative technology products to companies so that they can provide a good customer experience for their customers.
Based on a survey, 70% of the decision to buy a technology lies not in its sophistication, but the ability of the people who sell it.
So do not be surprised if the demand for sales personnel in tech is very high. However, currently the supply of labor is very low due to several reasons:
- It’s not taught in university
- Traditional salespeople aren’t much comfortable with tech as a product
- There is no desire for them to learn or no one to teach
- Entry-level opportunities continue to be open, because those who are experts quickly get promoted.
Source : CNBC
An article from CNBC states that in the Asian region, sales are the most difficult position for a recruiter to find the right person. Companies in Asia are willing to recruit people from other continents to fill these positions.
Business Development Job Opportunities
If you have a career in Data Analytics, there are many job opportunities in this field.
Some data from the job portal related to job vacancies in Data Analytics (data taken 22 September 2021, with the keywords “Business Development Full Time Indonesia”) you can see below:
Business Development Career Paths
If your career moves vertically, then your career moves more or less:
Yes, that’s right, CEO. It is not uncommon for CEOs to start their careers as Sales in Tech/BD.
Warren Buffett (American Investor), Howard Schultz (Former CEO Starbucks) and Sara Blakely (Founder of Spanx) are some of the many CEOs who started their careers as sales in tech.
This is because the mentality acquired is exactly what a CEO needs, which is to sell and convince people about the company’s products and services.
Also, no sales = no business.
In addition, a Sales in Tech / BD also has a series of transferable skills that can make him move laterally, for example to:
- Market research (Marketing)
- Human Resources (HR)
- Customer Success
- Sales Enablement
- Business Development Salary
- Based on the payscale, the average annual salary of a Business Development Associate is IDR 135,000,000. For entry level starting around IDR 7,000,000.
However, in some companies, the Sales in Tech/BD position also runs a commission system. So the more you score goals, the more financial compensation you get.
Business Development Skills
In Sales in Tech/BD, these are the skills required:
- Adaptability – you have to be able to adapt to different characteristics of people, or find solutions in different situations
- Discipline – because you will do something even though you don’t feel like it. (In real life, like having to exercise even though you want to lie down)
- Persistence – when conditions are tough, you don’t give up easily.Failure only happens when you stop trying
- Positive mindset management – you have to be able to smile and try to understand a difficult client. The trick is to know how to focus on the right things.
- Problem solving – you can solve various problems, with an active listening approach.
- Effective communication – both verbal and written. You will often make proposals, write emails, call prospects.
- Time management & productivity – Can manage time of day, divide priorities between clients and make the most of limited time.
- “A day in life” Business Development
- The daily life and responsibilities of a Business Development representative differ depending on each organization.
But let’s talk about what makes Business Development in Tech different from Business Development in general:
Selling Products/Services to Other Business
Business Development in Tech is B2B in nature. B2B (Business to Business) is selling our products to other businesses. For example, selling a marketing platform or selling an application to Singapore Airlines.
So, the Company is our customer.
B2B customers tend to have more complex and specific problems, with shorter decision-making times.
Sales in tech will play a major role in transactions if the approach is consultative.
So how’s your daily life? For more details, you can also read the article below: