This post presents complete information on the job description of a head of new business development, to boost your knowledge of the key duties, tasks, and responsibilities that they typically perform.
What Does the Head of New Business Development Do?
The head of new business development is someone who, by putting a team of proficient workers in different fields to work, ensures the establishment, development, expansion, and structuring of a new business.
The heads of new business development job description involves making arrangements and coming up with strategies for the development of new businesses.
He/she heads a team that possesses proficiency and good knowledge of the business; its growth, survival, thriving capability, and market ability.
Many new business startups hire business development experts to help them breakout. The leader of the business development unit is expected to possess knowledge and experience in investment and loans, the market, and the marketing structure that wins.
He/she should also have a great deal of knowledge of staff recruitment, workable business expansion drive, and organizational structure, to be able to plan for the growth of a business.
The role of this position may largely depends on the type of business the individual is developing; it is universally reasonable in all businesses for the head of new business development to take calculated step towards ensuring that the necessary procedures for registering the business is first followed.
He/she will ensure that the license for legitimate running of the business is secured. The regulatory standard for the operation of the new business is expected to be adhered to and enforced by the business leader.
He/she draws out a business plan and also makes the feasibility studies for the new business.
Other duties he/she performs include investigating the chances of survival of the new business, and relating its primary product or service to the demand of the public, as well as researching a suitable market for the company’s products and services.
His/her responsibilities also include setting up meeting with clients and customers, as well as negotiating terms among prospective partners.
Head of New Business Development Job Description Example/Sample/Template
The following job description examples highlights important duties, tasks, and responsibilities individuals working as head of new business development usually perform in many of the companies they work:
- Offer expert advice for the progress of the new business
- Investigate the chances of survival of the new business
- Negotiate terms among prospective partners
- Make arrangement for the calculated business development to be integrated into the new business platform
- Identify products and services and take calculated step towards ensuring that the necessary procedure for the registration of the business and licensing are carried out
- Do feasibility study on the prospective market
- Make arrangement on the marketing strategy to be adopted
- Negotiate new business with prospective clients/customer and prospective partners
- Make arrangement for the acquisition of products or materials for production, and ensure relevant licensing are obtained
- Handle calculated contractual matters among active partners
- Ensure that matters related to restructuring agreement and negotiations are well monitored
- Make contingencies for expansion plans, and prepare to take the initiative when the plans are due
- Discover, assess, and implement policies that support the expansion of the business
- Ensure a professional coalition and cooperation is achieved among partners
- Give representation to all the departments that make up the new business as one who is expected to work with all personnel
- Interrupt a working system sometimes to give a better working system
- Redefine and restructure the entire business when the need arises
- Ensure the formulation of a business and its expansion
- Use strategic means, including modern technology to achieve business goals
- Draw out a long-term business plan and bring new initiatives when the need arises
- Plan towards market improvement
- Make calculations on the customer base and make plans to increase it
- Investigate the expected challenges and research on ways of mitigating the
Head of New Business Development Job Description for Resume
You can apply the job description sample presented above in writing certain sections of the head of new business development resume, including the professional experience part.
Head of New Business Development Requirements: Abilities, Skills, and Knowledge for Career Success
Here are vital attributes, including skills, knowledge, and abilities heads of new business development should possess to excel on the job:
- Ability to lead
- Executing capability
- Vast experience in developing ideas, products, and services
- Expertise in making feasible plans
- Great negotiating experience
- Good human relation skills
- Ability to work and coordinate a team
- Proficiency in business supervision
- Proficiency in capacity building
- Ability to maintain good working relationship with partners
- A degree in Business Administration in an accredited university or college, or its equivalent
- Eloquence in written and verbal communication. A knowledge of an international language is an added advantage
- Successful track record of businesses that have been developed
- Good Commercial Assessment with proven experience will be an advantage
- Amazing presentation skills
- Quick and fast decision making ability
- Ability to drive initiative
- Good knowledge of modern technologies