“Oh! so you’re in sales?”
“No! I’m in business dev!”
“Oh no, you ’aren’t!”
“Oh, yes, I am!”
Have you had this kind of conversation? If you have, then you probably ended the discussion with a long face.
Well, sales is different from business development!
Let me explain.
A business development person is responsible for driving qualified leads further down the sales funnel, but he or she DOES NOT close deals.
That’s where salespeople come in.
The primary function of a salesperson is to generate revenue. The salesperson's responsibilities are:
- Qualifying potential customers
- Product/Service demonstrations
- Sales presentations
- Sales negotiations
- Handling sales objections
- Closing the sale
On the other hand, a business development person is responsible for:
- Brand placement
- Market expansion
- New user acquisition
- Brand awareness
- Partnership development
While their respective functions are different, sales and business development aim to achieve the same goal - BUSINESS GROWTH.
The chart below is a nice visual of the typical sales process. If business development is working well, it should make the prospecting part of this process easier.