Business Development Manager

3 weeks ago

Manama, Manama, Bahrain BFG Full time
Job SummaryIFS is looking for an ambitious and energetic Business Development Manager to help build the company's initial market position by locating, developing, defining, negotiating, and closing commercial relationships with both channel partners and key development suppliers, as well as end-customers.We expect IFS to earn revenue from licensing its intellectual property, consultation fee income, product manufacture, or other design-led solutions, and including proposed fee sharing or framework agreement arrangements required to be in place with key partners and suppliers.Responsibilities
  • Commercial; Driving the organization to achieve sales and growth targets through partnerships, alliances, and leading direct sales. Work closely with the technology teams to develop new products and implement strategies to drive revenue generation and ultimately business growth. Preparing reports on the performance of commercial activities and growth trends, as well as conducting market research and analysis to create detailed business plans on commercial opportunities, competitor analysis and forecasting of projected business revenue.
  • Sales & Marketing; Acting as the face of IFS maintaining excellent customer/supplier relationships and public relations. Participating in exhibitions, events and forums opportunities and interpreting market trends and providing strategic advice to adapt to industry changes. Understanding the requirements of existing customers to ensure their needs are being met and accepting ownership for accomplishing new and different requests by exploring opportunities to add value to job accomplishments.
  • Finance; Assisting with fundraising for the company, when needed, whether through sponsorships, grant funding or financing, and managing relationships with Tamkeen and the EDB, accelerators, private equity investors, and VCs.
  • Product & Partner Development; Work with the R&D teams to grow the product portfolio capability and enter new business sectors by capitalizing on market opportunities. Research suppliers of new products and product categories for new business opportunities to improve portfolio marketability. Locate or propose potential business deals by contacting potential partners; discovering and exploring opportunities.
Experience / Knowledge / Skills Required for the Role
  • Minimum 3-5 years of relevant experience in marketing and sales is essential; MA or BSc in Business Administration will be considered an asset.
  • Experience in B2B sales and selling an array of products (exposure to several industries); demonstrated ability and experience of managing a product launch, pilot monitoring, product development or automation would be a plus.
  • Strong influencer with first class interpersonal and communication skills and the tenacity to close new business deals by coordinating requirements; developing and negotiating contracts; integrating contract requirements with business operations.
  • Pragmatic, well-organized with strong project and time management skills. Self-motivated and driven with a 'can-do' attitude. Able to work autonomously or as part of a team with professionalism.
  • Commercial and financial acumen, with an understanding of the manufacturing and industrial sector.
  • High degree of professional ethics and integrity with excellent judgment and analytical skills.
  • Strategic thinking and ability to develop commercial and marketing strategy with market awareness.
  • Full understanding of market penetration and marketing elements, as well as market research methods, to screen potential business deals by analyzing market strategies, deal requirements, potential, and financials; evaluating options; resolving internal priorities.
  • Fluent in English with strong communication and presentation skills is a must.
Key Objectives / KPIsThe goal of the Business Development Manager is to promote and expand the company's commercial activity with its key development partners to enable IFS to provide a rich portfolio of Industry 4.0 solutions that will generate revenues from its clients and lead to sustainable growth.Accordingly, in order to realize this key objective, the candidate will need to achieve the following KPIs:
  • Target growth of revenue through new accounts, additional work scope for existing projects, as well as renewal or repeat business with existing customers;
  • Increase the reach and profile of IFS by expanding it's footprint across various channels;
  • Generate a lead flow of new opportunities per month;
  • Generate a conversion rate of new customers/projects
  • Achieve agreed annual targets (either revenue generated or number of completed projects).

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