Business development is quite an integral aspect of the contemporary corporate domain. Business development can be majorly summarized as the activities, initiatives, and ideas that can be focused on making a business more successful. Steven Rindner mentions that the sphere of business development majorly includes the growth of an enterprise in terms of increasing profitability owing to new strategic partnerships, competent business decisions, and fruitful business expansion. Rindner is a business and corporate development executive and hence is quite well versed in this aspect of a business. He specializes in business development and growth strategy.
Steven Rindner underlines the skills needed by business development executives
Business development is an expansive sphere, which is extended across the multiple departments of a company, including vendor management, product management, marketing, and sales. Steven Rindner mentions that cost-savings efforts, negotiations, networking, and building relationships are some of the core areas where business development executives have to work on. Rindner is an experienced professional who has been dealing with the sphere of business development and growth strategy for multiple years. Throughout the years he has additionally worked in multiple industries, such as healthcare, technology, media, and real estate services. Hence, he has quite a good grasp of what is expected of a business development executive in a company.
Here are some of the skills that a business development executive must have as per Steven Rindner:
- Creative skills: While not many pay heed to this aspect, a certain level of creative skills is required in the domain of corporate development. These skills go a long way in giving a new perspective to the existing opportunities so that they can be further developed or even identifying brand new methods for business growth.
- Analytical skills: The creativity skills of business development executives must be founded on an analytical mind. These professionals often have to use market sales and research data in order to present opportunities to diverse stakeholders. They subsequently would have to analyze this data and understand what makes the most commercial sense, as well as what can cost them superior expense. Good analytical skills of business development executives help them to acquire a level of in-depth understanding of the market so they can efficiently find attainable, new and profitable opportunities for development.
- Communication skills: The people working in the domain of business development quite often have to collaborate and coordinate with professionals belonging to other departments of a firm. They typically would be required to obtain a certain level of support from the finance, marketing, management and other teams of the company. These professionals may also have to help in making sure that proper coordination is maintained among the account managers and sales teams of the company, whole key focus and priorities lie somewhere else. In order to be able to do all these duties competently, business development executives would need efficient communication skills.
With his skills and competency, Steven Rindner has managed to successfully launch and develop the nutrition business of Besins Healthcare International, a pharmaceutical company based in Belgium.