Hey just hoping to get peoples thoughts on the pros and cons of a potential move.
Currently have 2 opportunities: 1) IBD Associate at MM firm (Not my preferred location or top-tier firm) 2)COO of 2-year old healthcare company ($3M revenues in 2016, and rapidly growing) that is aiming to acquire and roll up clinics in the NYC area and eventually expand into adjacencies and geographies. I would get profit share and equity in the company. The goal would be to scale up while optimizing operations and sell to a larger strategic or PE in a few years.
Im currently post MBA at a Corp Dev/Strat role at large public Fintech firm and cant stand the corporate politics. I feel like I'm not learning any longer and can't see the impact that my team is making on the organization. The COO role would get me back to NYC and provide bigger comp as well as a decent exit if sold.
My biggest concern is that if the healthcare firm doesnt work out, I may be considered 'unemployable', however I do have enough savings to cover a few years of living expenses.
What would you guys do in my situation? My long term goal is to be a successful entrepreneur unless I can get into PE, though I assume it is likely out of the question at this point in my career. I'm not sure the banking gig would be any more beneficial given I'm already in Corp Dev and that may be the only exit opportunity post MBA anyway.
thanks!!
Also now that I've done some reading on search funds and PE roll-up strategies, I do think the COO gig has some flavor of "private equity" given that it's structured as more of a holding company and each new practice acquisition is done in part with outside HNW investor money.
You have enough experience to know that isn't PE even by a stretch but maybe it is different at your level. I'm curious about how this healthcare company works because $3M revenues sounds low relative to the money one small medical practice can bring in by itself.
They only own a few small practices but have a bunch in the pipeline. Can't do deals fast enough.
Also I didn't say it was PE but the business model was very similar to another PE firm I interviewed with that was looking to have someone help with a rollup of firms in a niche industry.
I think you already know the answer to this yourself.
Fair enough. I'm heavily leaning towards the COO role but wanted to be sure I'm not slamming the door shut on corp strat if it doesn't work out.
for the COO position you get any equity? I'd lean towards that either way. Healthcare acquisitions are hot right now and the equity could be a huge upside.
yes that would come with equity. Small piece of the existing businesses and much larger share of all new ones.
Well do you want to build pitchbooks, or provide real value and have decent working hours with vacation?
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