Rex
Current Position
Strategic Development Manager, under the Corporate Business Development group of a global web services company
Job Insider
Role Description: I am currently involved in Strategy and Mergers & Acquisitions (M&A) in the internet/ online media industry. I am part of the corporate business development organization and my team specifically drives all the individual business and product units’ global strategy and M&A-related activities, with a focus on acquiring companies in the internet, mobile, media and advertising industries.
Typical Day: While there is definitely no typical day, last Tuesday I did the following…
- 845: Drop by my fave coffee place
- 915: Answer emails and scan my RSS reader for interesting investment, M&A and start-up news in the technology sectors
- 10: Check in with my Director on our acquisition pipeline and open items; Plan rest of week’s meetings and working blocks of time
- 1030: Discuss agenda items with VP Product Strategy of a line of business for due diligence sessions scheduled for next week in California with a potential “wireless” M&A target
- 11: Call Founder of a newly-launched start-up in the “content” space to convey interest in potential partnerships and schedule an introductory meeting; Talk to our Legal division to draft an agreement for the company
- 1120: Review the financial performance of a “social media” company our leadership team wanted us to look at; Send CEO of company initial questions
- 1230 PM: Grab lunch with a couple of colleagues
- 1245: Keep tabs on/watch streaming video of a recent industry panel discussion on monetization opportunities; Prep for an afternoon presentation
- 130: Follow-up with CTO’s office on participants for a technology assessment session to be held with a “software” start-up in a few days; Provide heads up to a Chief Architect on structure of technical evaluation needed
- 2: Walk over to another building on the campus for a meeting and present a strategy to a business unit head
- 330: Meet with a business development lead to iron out terms for a pending deal and negotiation points
- 4: Gather market data on a sub-category of “entertainment” for a potential opportunity initiated by an investment banker; Frame deck to evaluate opportunity to be sent to another business unit head within a day (i.e. Become an expert in the topic quickly)
- 6: Provide guidance on a quantitative model being developed by a colleague for a strategy project he’s working on
- 620: Book travels for next week
- 645: Catch up with people from the office on various topics; offer help with their projects
- 715: Decompress and head home/ Dinner with my family
- 9: Catch up on international news and plan volunteer initiative for this coming weekend
What I Love About the Job:
- High-impact—involves working with high-level executives on key growth initiatives and industry innovations
- Fulfilling—I’m personally passionate about entrepreneurship so being able to work with the founders/ceo’s of start-up companies that create market and economic value from different parts of the globe is highly satisfying
- Diverse—I get to work on various products, entertainment categories as well as new emerging technologies; also able to toggle between financial modeling, developing strategies, and project managing people during acquisition processes
- Culture—work with a group of very smart and friendly people in a flexible, merit-based and respect-driven environment
- Company jet
What I Don’t Love About the Job: As with any large company, the speed at which things get done
Proudest Accomplishments: Being able to fuel the entrepreneurial spirit and growing technology start-ups by working on multi-million dollar acquisitions and investments
Biggest Challenges: Getting people with varying or even opposite points of view to move forward in the same direction
Who Would be a Fit with the Role
- Ideal credentials include MBA from a top educational institution, analytical prowess, experience in either investment banking, strategy consulting, private equity, or other high-performance cultures, as well as knowledge of the Internet and media industry.
- However, more important are personal characteristics that include passion for new media and technology, a focus on details and execution, drive for excellence, initiative and entrepreneurial drive, ability to influence, and be a team player.
Why and How Rex Arrived at His Job
I have been an entrepreneur in the past and wanted to work with high-growth companies and entrepreneurs in an investment capacity. I also desired a high-performance role similar to strategy consulting or investment banking but without the 100 hour work weeks given my other life commitments with family, friends, continued education, personal civic work, etc.
I tapped into my business school’s alumni network to introduce me to people from various companies in the industry I wanted. The key is to talk, talk, and talk to people from the industry. Once I got informational interviews, I learned more about the opportunities existing in the companies I targeted.
Long-Term Career Goal/s
I plan to work in the Venture Capital industry down the road— this would enable me to work more closely with entrepreneurs and seed growth in industries.
Advice to Job-Seekers for the Same or a Similar Position
A few things:
- In terms of the application/ interview process: Learn the business case method. Also, “fit” is ultimately one of the most important factors so know the company you’re applying for very well
- In terms of background: Not having an investment banking or strategy consulting background isn’t a deal breaker— however, you need to demonstrate that you have the ability to do similar tasks as these high-performing roles (e.g. rigorous analysis, thriving in ambiguous situations, etc.)
- In terms of getting the job you want: Talk to more people in various industries/companies you’re interested in and ask your contacts to introduce you to more people. There’s no substitute for learning the nuances of your target industry or company— this will prepare you not only for the application and interview process but also in performing your job well once you get it.
- In terms of career goals: Know what you want (your passions, interests, ambitions) and find careers that fit these; base career decisions on your long-term objectives
