A Vice President of Sales and Business Development is a top-level executive who is accountable for managing the sales team, growing the business and supporting the profitability of the organization.
First and foremost, this sales-oriented executive is expected to drive sales. At times, the VP of Sales and Business Development will work with staff members to identify and develop potential new products. With respect to existing products, someone in this role oversees pricing strategies and takes advantage of market opportunities to drive lasting long-term growth. The typical VP of Sales and Business Development oversees sales, sourcing and quality assurance departments.
Sometimes, this position requires working independently, but it also requires meeting with various teams and individuals. The job may require some regional and national travel in order to meet with existing and potential clients.
The position does include a lot of responsibility and accountability. However, the work can be extremely rewarding, and the job is typically well paid. A VP of Sales and Business Development enjoys a full benefits package and may earn a base salary of $120,000 to $150,000, with additional pay coming from commissions and bonuses.
A VP of Sales and Business Development supervises sales activity: interacting with key clients, reviewing sales reports, considering changes to marketing strategies and working to promote the company’s various products and services.
A person working in this job meets with clients to talk about the products and services the company is providing. Through these meetings, this VP aims to develop long-term relationships with their client base.
This individual so works to identify potential clients. they network with existing clients and others to sniff out potential clients and hopefully convince them to partner with the company.
A VP of sales and business development must also set quarterly and annual sales goals. They must also review sales reports that layout progress towards these goals. If changes to the sales strategy must be made, this VP works with key personnel to ensure that stated goals are met. The job also involves independently researching target demographics.
This person is also partly responsible for the makeup and development of the sales team. They often meet with sales personnel and lead training seminars to boost the productivity of the sales team.
There are also creative aspects to this job. The VP may help design marketing and promotional materials. They also work on new, innovative ways to market the company’s services and products.
A bachelor’s degree is required for this job and the ideal candidate will have a master’s degree in business administration. The ideal candidate will also have a strong history of driving sales, business development and product development.
Those applying to this job most have significant management experience and be able to describe a strong history of using interpersonal, analytical and organizational skills. The ideal candidate for this position will have a strong track record of working with major retailers. They should also have experience working with overseas suppliers.