Business development specialists are responsible for creating effective business plans for their company. They are also in charge of analyzing business processes and identifying opportunities to generate additional revenue. They research industries to find purchase patterns and emerging trends to recommend changes for their organization. Business development specialists also assess potential clients and provide development support, as well as act as a facilitator between executives and external contracting sources. They process large amounts of company data to make predictions and create detailed reports. Another of the specialist's main duties includes recommending changes to supply chain management as necessary. They also help implement growth strategies, participate in business meetings, and recommend changes to existing business practices to increase exposure and revenue. Business development specialists also assist with budget development and provide support for existing initiatives.
A bachelor's degree in business management, development, or a related field is generally the minimum educational requirement for this position. Experience in business development may be required or preferred as well. Business development specialists must be results oriented and have excellent written and oral communication skills to interact with other teams in their organization and create strong business relationships with external partners. They should be able to work independently with minimal supervision, but also work well in a team environment with other specialists. Business development specialists must have strong analytical skills and be well organized.
Business Development Specialist Tasks
- Act as the liaison between investors and internal lenders.
- Monitor lock box, pull locks on closed loans, and review locks for expired dates.
- Monitor, verify, and maintain investor loan registrations.
- Manage and maintain daily and weekly spreadsheets for loan products.
- Analyze investment options and make suggestions for potential purchases.