Position: Business Development Manager
Reports To: VP, Business Development
Department/Division: Business Development
Work Location: Bloomington, MN
Job Code/Classification Exempt
Revised: December, 2022
The Business Development Manager position will cover the western US for ReSound. This position is able to work remotely from anywhere but frequent travel to the western US is required.
PURPOSE OF POSITION
Grow and secure ReSound’s overall distribution base and drive double-digit unit and revenue growth through business development initiatives and strategic account management, ultimately increasing ReSound’s market position.
JOB DUTIES & RESPONSIBILITIES (KEY RESULT AREAS)
- Locates and proposes potential business opportunities by contacting potential partners and conducting discovery and vetting. Cold-calling is expected. Utilization of the individual’s industry network is key.
- Cultivate new and existing business opportunities with Sales. This will require both individual solicitation and working closely with Sales to identify and qualify prospects, as well as shepherd opportunities through the deal process.
- Screens potential business deals by analyzing market strategies, deal requirements, owner potential, financials, evaluating options, resolving internal priorities, and recommending investments.
- Develops negotiating strategies and positions by studying integration of new venture with company strategies and operations, examining risks and potentials, estimating partners' needs and goals. Serve as a go-to resource among field sales team for business development orientation.
- Closes new financial support arrangements and supply agreements by coordinating requirements, developing and negotiating contracts, integrating contract requirements with business operations.
- Track and report on the status of all proposal components.
- Coordinate the day-to-day relationship among Signature customers with Sales team, particularly with new customers brought in through Business Development.
- Establish and maintain on-going customer relationships with the various parties to anticipate and resolve potential problems.
- Communicate with internal groups regarding outcomes of the negotiations/proposals focusing on conveying the expectations set forth for each group, i.e. clear details, critical timeframes, and expectations.
- Ensure existing financial support arrangements are compliant with agreed-upon terms and conditions. Jointly work with Sales to rectify arrangements that are off-track.
- Amass competitive intelligence and apply this information for more impactful results.
- Manage VIP trips to Bloomington for business development prospects and customers.
- Actively participate in key account reviews/site visits.
- Bachelor’s degree in business, finance, or other related discipline
- At least 5 years of hearing industry experience. Prior business development experience is a plus.
- Proven selling experience and success
- Experience in manufacturing and/or distribution environment preferred
Knowledge and Skills:
- Ability to influence and persuade to achieve desired outcomes
- Strong interpersonal, relationship, and problem-solving skills
- Strong analytical skills with ability to see bigger picture; strategic thinker who get can dive into details as needed; solutions oriented
- Excellent organizational skills with careful attention to detail and timely follow-through
- Exemplary business ethics, confidentiality, and integrity
- Strong team leader experience
- Excellent verbal, written communication and interpersonal skills
- Prospecting skills, closing skills, motivation for sales, sales planning, selling to customer needs, territory management, market knowledge, presentation skills, energy level, meeting sales goals, professionalism
- Desired competencies in practice marketing, people management, financial analytics
- Demonstrated project/process management capability, especially against multi-faceted assignments.
Direct reports: No
Indirect reports: No
Working Environment: 60% Travel
This job description is intended to be a general guideline for applicants, employees, and managers. It is not to be construed as an exhaustive list of all duties, expectations, or qualifications. This description does not create a contract or guarantee of employment. Management reserves the right to modify job responsibilities, expectations, and qualifications.