12 Business Development Manager interview questions and answers

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1. How do you identify new business opportunities?

Business development managers are expected to identify new business opportunities. Hiring managers want to understand your strategies for discovering these opportunities. 

How to Answer:

Discuss your methods to identify new business opportunities, such as market research, networking, analyzing industry trends, and leveraging existing client relationships. Share a successful business opportunity you identified and pursued in a previous role.

2. Share an example of a partnership you established that contributed to business growth?

Partnerships are crucial aspects of business development. The hiring manager wants to know about your experience and success in establishing strategic partnerships.

How to Answer:

Describe your establishment of a partnership and discuss steps you took to identify and secure it. Discuss the challenges you overcame, your results, and how the partnership contributed to business growth. 

3. How do you approach negotiation?

Negotiation skills are crucial in business development, and hiring managers want to know that you can effectively negotiate deals and agreements.

How to Answer:

Explain your approach to negotiation, such as preparing thoroughly, understanding the other party's needs and goals, and striving for a win-win outcome. Share an example of a successful negotiation you conducted in a previous role.

4. How do you measure success as a business development manager?

Employers want a business development manager who has a proven method for tracking and evaluating their performance. Which business metrics are you using? How does client satisfaction play into your success? Hiring managers are looking for responses that showcase your skills in performance reflection. 

How to Answer:

While there are many different metrics a business development manager might use, discuss key performance indicators (KPIs) that have proven to work in your experience. Client retention, revenue growth, market penetration, successful collaborations, and conversion rates are great ways to measure success. Explain how you’ve used these metrics to drive growth and how you plan on continuing to use them to achieve strategic objectives in your new prospective role. 

5. What would you do if you lost a potential client?

Even the best business development strategies face roadblocks. Hiring managers don’t want to hear that you’ve never experienced any loss as a business development manager. They want someone who can learn and grow from their experiences and know which mistakes to avoid in the future. 

How to Answer:

When sharing an example of when you lost a potential client or deal, discuss what happened behind the scenes. It’s okay to mention mistakes on your side while following it up with what you’ve done differently since then. What lessons remained with you? A hiring manager usually wants to hear an honest answer that also focuses on how you learned from this experience.

6. How do you balance existing client relationships while seeking new opportunities?

Balancing existing client relationships with the pursuit of new opportunities is a key challenge in business development. The hiring manager wants to know how you manage this balance.

How to Answer:

Discuss your strategies to maintain relationships with existing clients while pursuing new opportunities, such as regular communication, providing excellent service, and leveraging client relationships to identify new opportunities. Share an example of how you've successfully managed this balance in a previous role.

7. How do you close a deal?

Closing deals is fundamental to a business development manager's role. The hiring company wants to know your approach and its skills and strategies. 

How to Answer:

Explain your strategies to close deals, such as building strong relationships, understanding the client's needs, providing a compelling value proposition, and effective negotiation. Share an example of a significant deal you successfully closed.

8. How do you stay up to date with industry trends and developments? 

Staying current on Industry knowledge is crucial in business development, and hiring managers want to know that you stay informed.

How to Answer:

Discuss how you stay with industry trends and developments. Mention any resources you find particularly useful, such as attending conferences and networking events, reading industry-relevant publications, and participating in professional organizations. 

9. How do you handle obstacles while pursuing a business opportunity? 

Overcoming obstacles is often a part of business development, and hiring managers want to know how you handle challenges.

How to Answer:

Share an example of when you faced a significant obstacle while pursuing a business opportunity. Be thorough in your response and begin by describing the situation. What challenges did you face? How did you overcome this obstacle? Conclude your answer by explaining to the hiring manager what you learned from this experience and how you’ve integrated the lesson into your present work. 

10. How do you develop and maintain a strong sales pipeline?

A strong sales pipeline is crucial for success in business development, and hiring managers want to know how you build and maintain your pipeline.

How to Answer:

Discuss your strategies to develop and maintain a strong sales pipeline. Explain how you prioritize efforts, manage time, implement lead qualification, relationship building, consistent follow-up, and prospecting to ensure a healthy pipeline.

11. How do you collaborate with other departments, such as Marketing and Sales?

 

Effective collaboration with other departments is often essential in business development. The hiring manager wants to know about your experience and success in this area.

How to Answer:

Explain your collaboration with other departments to achieve business development goals. Describe sharing information and insights, coordinating with sales to ensure smooth handoffs, and creating targeted campaigns with your last successful cross-department collaboration.

12. How do you handle rejection in the business development process? 

Rejection is often a part of business development, and hiring managers want to know how you handle these setbacks.

How to Answer:

Discuss how you handle rejection in business development. Share examples of how you recovered from rejection by staying positive, learning from the experience, and ultimately achieving success. 

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  • $25 hourly
    Salem T.
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    • 5.0
    • (3 jobs)
    Istanbul, AJ
    vsuc_fltilesrefresh_TrophyIcon Business Development Managers
    English to Arabic Translation
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    ## Well Researched, QUALITY Content ## Hey there, my name's Salem, I'm a freelance writer focused on health and fitness (though I can cover most topics). I've been working out professionally for more then 10-years. One of the draws for me is that there's more to the process then just pushing and pulling weights. I learn new things every day that help me improve my training and recovery, which I'm happy to share with anyone wanting to take their fitness and health to the next level. Listen, anyone can write about health and fitness, but that likely means regurgitated content that matches everything else on Google. With me, you get someone who knows what they're talking about, knows how to make it interesting, and knows how to write it with SEO in mind. As you can probably tell, I take my personal fitness and health very seriously. Don't believe me? Check out my IG: @saaltfit. What can you expect from me as a writer?: - 99-100/100 on Grammarly (Reading Score 65-85) - "Good" on HemingwayApp (Grade 2-7) - Casual, easy to follow tone/style - High-quality attribute-free images - SEO friendly (title, headings, subheadings, keyword focused, snippet section, alt tags, description, internal/external links) - Adherence to deadlines - Prompt Responses - Great attitude I'd appreciate any consideration :) Salem
  • $100 hourly
    Jordan C.
    Business Development Manager
    • 5.0
    • (4 jobs)
    Seattle, WA
    vsuc_fltilesrefresh_TrophyIcon Business Development Managers
    Startup Consulting
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    Currently working Pro Bono on legislation for legalization in the kingdom of eSwatini and mentoring future cannabis entrepreneur while increasing experienced indigenous growers knowledges. Jordan Curl is a cannabis entrepreneur, a United States Marine Corps combat veteran , and an international educator. Jordan is a practitioner and proponent of medical cannabis as a therapeutic treatment for PTSD and other ailments, and a cannabis advocate who has been part of the effort to legalize cannabis since 2004. At age 17 Jordan enlisted in the Marine Corps infantry and was deployed to Helmand province Afghanistan for two combat tours as a fire-team leader, and an instructor and advisor to the Afghan National Army and Jordanian Armed Forces. Jordan’s military career also took him to Oman, Saudi Arabia, Jordan and Kuwait for joint combat and training operations with their respective militaries. Jordan has worked in the medical and recreational cannabis industry in California, Oregon, and Washington since 2010, and has acquired a high degree of experience within the many modalities of cannabis: cultivation, extraction, processing, and formulations, across a diverse group of products such as vape cartridges, topicals and edibles that he has helped bring to market. He has a deep knowledge of hydrocarbon distillation, chromatography extractions,solventless extractions, and a range of cultivation methods, including indoor, outdoor, greenhouse, mixed lighting and vertical for both soil and hydroponics. In 2012, Jordan co-founded Vulcan Mountain Herbal in Seattle to address the future needs of the still budding cannabis market. VMH is a veteran owned and operated medical marijuana patient cooperative that specializes in indoor growing and vertically integrated processing, extraction and distribution of medical cannabis to its patient network. Many innovative solutions and products that were created by VMH and its partners have now been adopted by the cannabis industry. In 2014, Jordan and his VMH business partners incorporated VMH into a recreational cannabis company called Vulcan Mountain Farms, the second company in the state of Washington to receive a recreational grow licenses for a 20,000 Square foot Tier 2 outdoor production facility. Through Jordan carefully cultivated cannabis network, he was responsible for the collection of over 100 different strains of mother plants and 200 different types of seed genetics for VMFs genetics library, as well as establishing the training and education program for cultivation and extractions. Notably, the company was one of the first in Seattle to accept cryptocurrency. In 2016, Jordan became the acquisitions manager for Seattle Bubble Works, an Artisan producer of water extracted bubble hash and prerolls, his role there included visiting and assessing licensed production facilities on their ability to grow cannabis and produce finished product to be used for the company as extraction material. At this time Jordan also started his consulting agency for the medical cannabis sector in Washington and Oregon, called Growers Without Borders, to assist medical patients conducting small grows for themselves or other patients, this work as flowed over to other countries such as Israel, Palestine, Ukraine, Poland and South Africa. Jordan continues to co-own a medical cannabis delivery service and extraction facility in Seattle. And in 2017 he established a veterans training program, focused on growing and extraction education, called Warriors to Weed. He has consulted on multiple operations throughout the West Coast cannabis markets as well as internationally. Jordan is currently the senior cultivation and extraction associate for iCAN serve, a division of iCAN that provides a range of services to cannabis companies on every continent but Antarctica. Currently he acts as a European representative for iCAN, focusing on creating deal flow, scouting IP for the companies incubator and investment arm, and providing on the ground, qualitative research and analysis for the retail and industry markets for clients focusing on the European sector.
  • $125 hourly
    Whitney K.
    Business Development Manager
    • 5.0
    • (46 jobs)
    Rancho Santa Fe, CA
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    UX Research
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    I offer over 19 years of strategic management, marketing and research experience allowing me to conduct both qualitative and quantitative analysis from request through reporting and analysis. I have also moderated hundreds of research interviews (IDIs, dyads, focus groups and more) enabling me to navigate the nuances of complex topics bringing rich insights. I have experience in the following industries: CPG, fitness, online gift retailing, real estate development and finance/technology. The brands I have worked on include TurboTax, QuickBooks, Del Monte, Active Pacific, Shari's Berries, ProFlowers, Personal Creations, RedEnvelope, Gifts.com, and The Grand Del Mar Resort and Spa. Some additional capabilities include: - New product development: Taking consumer needs, translating them into concepts and then taking concepts through development lifecycle to launch. - Survey design, programming and analysis - Interview moderation - UX Design Research - A/B Test Design - Leveraging behavioral economics and neuroscience principles to refine concepts before research and testing. I look forward to helping you with your project needs.
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