Career change -- from finance to biz dev. at startup?

[4frnt]

Hey guys, I have worked in equity research for a few years after undergrad but have realized that I do not love finance like I once thought. I am really interested in joining a growing ecommerce company in NYC like Fancy, Gilt, etc but an somewhat clueless on how to approach this situation. I am aiming for business development positions and feel that I have solid experience although I have never worked in a relatable sector (I was on a financials team in ER).

Anyone have advice on the most efficient way to conduct my job search apart form applying on companies' websites? --- i.e. certain job boards, recruiting firms, linkedin, etc. I only focused on finance as a career up to this point so I am relatively ignorant to the hiring processes in other industries.

Thanks

 

[joconn183]

I think you first need to figure out what types of companies you're actually looking to be a part of now. Ecommerce is a good start because it's specific, but Gilt is not a startup. They are a pretty well developed company at this point and their org. structure is very mature compared to a startup.

May I ask, why are you interested in being part of a startup?

If you decide that a startup is really what you want, a great place to start is angel.co/jobs (AngelList). To really break in and get a leg up, I would try to find connections or introductions to people (CEO, Head of Sales/Biz Dev, or HR) so that you can speak with them before you apply. The more of a relationship you can build the better. Plus, companies are getting pounded with resumés right now and people will have experience in the space where you have none. It's not a lost cause though because everybody has to start somewhere.

 

[4frnt]

Thanks for the advice. I'm using the term start up with a much broader meaning than the true definition. Many people still categorize companies like Gilt as a start up (I understand its much more mature). I am interested in starts ups because I am not 100% sure set on biz devel in the long run. I may end up wanting to be in sales, marketing, or another area. I know that you can have the chance to wear many hats at a true "start up" or have a better chance of changing roles internally. Additionally, I think that it may be easier to initially penetrate the ecommerce world through a start up. From my understanding, the more established companies like Amazon and ebay will be less likely to hire someone without relevant experience. At this point people won't want to hire me as "entry level" and I am not sure if I am willing to take an "entry level" position.

I actually have used AngelCo with some success in the past week.

 

[joconn183]

Ok, that's helpful. So in a very early stage startup you will typically need experience because they want closers and people with a strong network to scale quickly. AngelCo is probably one of the best resources. Another is VentureLoop (search for startup jobs and things like that to find other alternatives).

You should lower your expectations a bit though because you may need to take an entry-level position since it's a completely new industry and job-type for you. If you can relate some experience or have some special skills that align with the BD positions then that will definitely help, but startups and tech ecommerce companies (what you're really referring to) want to see people who are willing to grind and get the job done. It's one of the hottest spaces right now and everybody wants a job in it.

 

[Frist23]

Just want to wish you good luck. Startups can be very interesting and fun to do. They are more risky, though. In Biz dev, you'll be expected to be able to make deals and so on.

 

[4frnt]

Thanks. Any advice on the interview process? Is it much less structured and more "fit" based than finance? Are there usually several rounds / interviews with differentl people? Thanks

 

[fatielajia]

At this point people won't want to hire me as "entry level" and I am not sure if I am willing to take an "entry level" position.

 

[4frnt]

^ that was geared towards established firms like amazon and eBay where entry level positions seem to be for the training programs straight out of undergrad.