In a recent article on how to successfully establish a career in strategic business development Maarten de Jeu the advisor to many industry-leading companies and people with a very large net worth offered his advice to individuals seeking to enter the field and the skills someone in the field need to possess or develop in order to be successful in the field.
Careers in corporate development require the individual to be a dealmaker, business analyst, and strategic decision-maker. At various times individuals working in this field will be involved in business mergers and acquisitions, developing strategic partnerships, joint ventures, and divestitures.
Big companies and conglomerates routinely purchase smaller companies in order to benefit the parent company. Typically the smaller company possesses assets the parent company can utilize such as intellectual property, revenue, a customer base, or other useful assets. Individuals involved in corporate development may be required to establish a list of companies a parent company may be interested in acquiring and establish a potential valuation and any associated risk of acquiring a company. They may be called upon to take part in the negotiations and assist in the acquisition process helping to make the integration process a success.
People in this field may also be involved in divestiture, the exchange, sale, closure or some other means of disposal of an asset in the company’s portfolio.
Mr. De Jeu explained that the role an individual plays within the company can be based on the size of the company. Larger companies tend to divide work amongst multiple teams with each team being responsible for specific aspects of the business. People in this field can also expect to be involved in data analysis, develop business projections and establish valuation based on those projections, research a particular industry and develop business offers based upon that research among many other things.
A key area many corporate business development professionals are involved with is the integration of smaller companies after an acquisition. This will often involve the facilitation of computer software and back-office system changes, integration of the smaller company’s systems and information with the parent company and ensuring the integration is a success. Learn more: https://about.me/maartendejeu
Mr. De Jeu said most people entering this field come from investment banking, although he says that a background in investment banking is not always necessary. He states that experience with acquisitions, negotiating skills, management experience, and overall knowledge of the industry are required. They will also need basic computer skills and knowledge of fundamental programs such as Excel. A grasp of accounting and the ability to understand and prepare complex financial statements is also necessary. A Bachelor’s Degree in business or accounting is adequate for most positions, but highly competitive positions will require an MBA.
Maarten De Jeu is a leader in the area of corporate development having the role of advisor to numerous Fortune 100 executives, high net worth individuals, and promising start-ups. He earned his MBA from Oxford University and works in Chicago.