Business development can imply many issues to many individuals — sales, partnerships, customers, new services or products, or extra markets. At bigger firms, business-development jobs are much more specialised. “In the big companies, business development most often refers to groups of people looking for new merchandise, new markets for current applied sciences, strategic partnerships, and the like,” Brandon says. Scientific data is really necessary in these jobs, and though there are non-Ph.D.s in business development, employers will readily pay a premium for advanced degrees. I see way more BD positions that require Ph.D.s than I do positions that require another degree, including MBAs.
If you’re focusing on the wrong market or utilizing the incorrect approach to get into the right market, you’ll drown, no matter how nice the services or products is. In begin-ups or scale-ups, often an enormous part of the every day business is coping with prospects and …