Business Development Officer
Essentially, business development, as the title implies, is a results driven role. A business development manager is responsible for understanding what is going on in their field of specialty, knowing the people that matter and are usually given tasks such as negotiating sales or licensing arrangements, finding business partners, raising funds for new projects, pitching business plans to investors, sculpting the perceptions of a defined community and a range of other corporate issues. These are well-paid corporate positions and can exist as contract or full time positions.
While each role is different, they will require a proven track record in any of sales, marketing, licensing, negotiating and managing personnel, patents and contract assessment. Business development managers clearly require a range of experiences and there are a variety of avenues into business development management roles. Some of the pathways that business development managers start off in are – Sales then Sales Management then Product Management; alternatively, you could undertake a PhD (start a scientific career) then move into Biotech as a project officer or as a research manager and build your skill base from there.
As an example of a type of Business Development Manager: Pharmaceutical companies sometimes require specialist sales representatives to help catalyse change in the perceptions of medications in the field following the approval of new drugs or other developments. This requires the development and presentation of product strategies and business plans while also providing high level customer service and developing close working relationship with key opinion leaders in a given therapeutic field.