what is a business development executive
and how do you get a job doing what they
do I'm gonna answer you right now
stick around first of all I'm Alex
Berman I've generated over ten million
dollars in sales for our companies but
I've also been a business development
executive a junior Account Manager I've
done cold calling I've done prospecting
all across the spectrum and I was a
director of marketing for a rapidly
growing company that hit the Inc 5000
list three times and actually just hit
again a fourth time so I have found my
dream job in quotes what you think is
your dream job as a business development
executive and in this video I want to
talk about what they do so what does a
business development executive do so
business development is shortened in the
corporate world to bizdev there are also
a bunch of other acronyms AE for Account
Executive SDR for sales development rep
there's a bunch of these you don't
really need to know about right now
business development at its core is
finding the money you as a business
development person are going to find
money for your company to do that you're
identifying new clients or making money
from old clients typically the people
that make money from old clients are
called Account Executives but sometimes
those are also called bizdev and the
ones that find new clients are typically
called STRs or sales development reps
but that all falls under business
development executive depending on the
company so as a business development
executive you are identifying new
clients and/or
making money from old clients a business
development executive runs the company
because a company can't exist without
money which makes this a stressful job
meaning if you don't perform there's
gonna be consequences you're gonna get
cut but it also is a job filled with
opportunity because if you can make a
company money you basically run the show
business development executives walk
around the office like they own the
place because they basically do they
have a lot less strict requirements in
terms of dress code and the way they
have to act because they have more power
in the office because they bring in the
money this video is brought to you by
mail rush.io if you need to send cold
emails or if your current provider isn't
allowing you to send cold emails you
must get an account with Mail rush.io
with Mail rush.io you can send bulk
email in campaigns on autopilot while
avoiding blacklisting problem improve
your sending reputation with a dedicated
IP and if you sign up with the offer
below they'll include a free customized
IP warm-up schedule with your dedicated
IP account and you can get 30% off the
first month by using the promo code cold
email in addition to that you can also
open a free trial account with a sending
credit of 1000 emails check it out Mail
rush.io promo code cold email so it's
cool to be a biz dev executive I know
when I was a sales guy it felt like the
salespeople ran the entire company we
were up at the front of the office we
talked to the clients we were the ones
presenting the most in meetings it's
super fun to be that type of person but
it's also stressful because you can't
hide as a business development executive
you're either going to sell or you're
not gonna sell and if you don't sell
you're out you're gonna have to find a
new job versus some jobs where you can
kind of hide in the shadows a business
development executive has a number that
you have to hit every single year really
every single quarter meaning every three
months you have to hit a number and if
you don't hit that number you're either
gonna be on probation or you're gonna be
out of the company business development
also covers four areas lead generation
reaching out to new customers
negotiation and closing the deal let's
talk about each one of those lead
generations something we cover a lot on
this YouTube channel I would subscribe
for more videos and we also go into
depth in our course email 10k which
teaches you how to book meetings with
billion dollar brands I would check that
out if you are a business development
executive that's perfect so lead
generation is finding lists of people
that could work for your company
reaching out is also covered in the
course about cold email but reaching out
is you talking to customers that want to
pay you that could be via cold email via
LinkedIn going to events like the meetup
that I used to run in New York whatever
that is reaching out to people then once
you have that sales conversation going
the third thing is negotiation and
moving the deal forward answering
customer questions making sure that your
product is the right fit for the
customer and selling them on the product
figuring out pricing and whether they
can buy all of the back and forth deal
making stuff and then closing the deal
actually going in and getting that
signed contract
customers it's important to test your
cold email subject lines to get an 80
percent open rate the trick is to test a
new subject line every 10 emails 50-plus
subject lines in a Google Doc that you
can test with your cold email campaigns
you can have that for free experiment 27
comm slash subject owning every part of
the money making process is what a
business development exact does and that
is across the entire career letter a
director of business development is
going to be overseeing a team of people
that are doing all this versus a junior
business development exact might just be
doing lead generation they might just be
creating lists of prospective customers
and going on in LinkedIn sales navigator
or using a tool to generate leads which
I've done before and is tiresome work
that can easily be outsourced to people
in other countries for pennies on the
dollar and it always sucks to be doing a
job like that so that's what a business
development executive does and that
negotiation process is the fun part of
sales you're going out to drinks with
clients you are meeting throughout the
day you're not really in the office a
lot of the times depending on the type
of sales you're doing you're going
on-site to clients it's a lot of field
trips it's it's pretty fun I love
leaving the office I'm glad I don't have
a nine-to-five anymore because now I'm
like on a constant field trip but back
when I was in an office it was fun to
leave it's fun to go to a client's
office and present to them because you
get to leave early and do your own thing
your boss isn't looking over your
shoulder etc it's a very free job so how
do you become a business development
executive well what's cool about this
job versus other jobs is because it's a
money-making job it's very easy to get a
shot you don't typically need a degree
to be a business development executive
you don't even really need experience
there are a bunch of jobs that you can
find as a cold collar as a prospector as
a marketer which is really just a cold
collar that will give you an easy shot
right off the bat with almost no
interview because to them it's a numbers
game they throw enough people at the job
some percentage of people are gonna make
it and actually that was my first job I
got a cold calling job off of Craigslist
where I was cold calling just people in
their homes to sell boxes for veterans
and that lasted one day before I quit
because I was a scam a lot of these jobs
are
scams but they will get your feet wet in
terms of cold calling so I lasted one
day and then my second job was cold
calling and prospecting and closing
deals for a start-up in New York City
and I found that using cold email check
out the video we did on finding a dream
job because it goes through step by step
how to identify a few companies you want
to work with send targeted emails and
then how to get yourself in front of a
hiring manager to get a shot at the job
you want so check that video out and
then once you get a shot as a junior rep
work as hard as possible to get promoted
the thing that worked for me and how I
was able to go from junior sales guide
to Director of Marketing in about a year
and a half is I would do everybody
else's work so when the senior sales guy
needed a proposal written I wrote the
proposal and what happens is once you do
enough of their work they'll need you in
the meetings to explain what's going on
they'll get lazier and lazier and
eventually you become them that's that's
all you do you just start doing the work
of the people above you with their
permission of course and as they get
lazier you do more and then you start
closing deals they'll start kicking you
deals and you can get promoted pretty
quickly and if that doesn't happen
switch jobs you should find out pretty
quick I found out in my first startup
that there was no path in about six
months and then I was able to get into
the agency business pretty quickly after
that where there was a straight shot to
the top and that's all you're really
looking for if you really want to
progress in your career fast
finding the right company helps once I
went from junior sales guided director
of marketing at an established business
I just saved fifteen twenty years of
career corporate ladder climbing by
doing that and it's all by finding the
right company where you get the right
opportunity what I recommend being a
business development executive heck yeah
it's super fun I would recommend being
an entrepreneur more so if you want to
start your own business check out email
10k but if you do want a work
corporate America and you want a job
that's similar to being an entrepreneur
meaning you're out there hunting you're
making money you're doing the majority
of the work and entrepreneur would do
then I do recommend becoming a business
development executive and honestly
there's one of the most fun jobs of that
you have any more questions about
business development or finding jobs
anything like that anything related to
this video we'd love to know leave a
comment down below and let's get a
conversation started like this video to
encourage this type of content and check
out our past videos we do videos three
times a week all about sales marketing
business development
and how to become a better salesman also
subscribe for more videos like this
thanks for watching I'm Alex Berman