Payne Enterprises Hires New Associate Class
In the dynamic and competitive landscape of today's business world, companies are constantly seeking innovative ways to stay ahead of the curve. Our proven strategy for achieving sustained success is to recruit top talent from renowned MBA programs. Our decentralized business model allows us to make the best hires from across the country. This year, we are building our new associate class of hires from target schools Harvard Business School (HBS), MIT Sloan School of Management, Kellogg School of Management, and the University of Chicago Booth School of Business. We have hired a roster of associates with backgrounds that blend academic excellence, real-world experience, and strategic and analytical thinking. Visit our team page to learn more about our new associates.
Payne Enterprises’ Key Learnings for A Successful Remote Workforce
It has been more than three years since the start of the pandemic and many companies have reversed course and are no longer fully committed to remote workforces. Payne Enterprises remains 100% remote and it continues to be a core part of the company’s DNA.
Payne Enterprises was founded with a remote workforce and that has enabled the company to recruit top talent from across the country. Payne’s nimble and decentralized staff effectively serves clients while benefiting from the flexibility of remote work. Payne is able to keep overhead costs lower than traditional firms and pass those savings onto clients, who still receive best in class services.
Payne Enterprises’ Principal Joe Walsh explains, “We are totally remote, but work very closely together and Zoom on a daily basis. Our core team is in Washington, D.C. and Boston. We have been able to pull in additional team members in Boston, Chicago, California and more. I think the work we do doesn’t have significant benefits from sitting in the same room daily, and instead this model really allows us to cast a wider net to get great talent.”
4 Remote Work Key Learnings
Meet the right way. Think about the goal of the meeting and then set an actionable agenda accordingly. Harvard Business Review suggests setting agendas with team members’ input and making sure all topics impact all attendees. Designate time for information sharing, brainstorming and discussions towards decisions. Be respectful of each other’s calendars by ending on time and work as a group to discuss next steps so the team all has buy in.
Look the part. Professionalism is not just how employees look, but also how they feel. Clothing is a big part of that. Maintaining the proper business casual dress code helps to define work versus me time and is especially important in client services. Don’t forget about body language while on video. It is easy to get distracted, let your eyes wander or give off the wrong social cues.
Develop staff and mentor. Built in training and a cycle of development feedback keeps employees on track. Ensure that there is structure and clear assignments for all projects so team members feel supported and are on the right path. Communication is key. In lieu of hallway chats, an instant messaging platform can be a beneficial tool for drop ins and quick questions.
Build in in-person time. The Payne Enterprises team meets up for annual off-sites to connect face to face. While the agenda is focused on business strategy, there is a lot of built in social time to connect and build bonds with one another. When appropriate, utilize a portion of video meeting time to discuss things outside of work to maintain relationships over Zoom.
Learn more about Payne Enterprises and find out what we can do for you.
Payne Enterprises Launches Fall Associate Recruiting
Payne Enterprises is working with the career management offices of top MBA programs to start formal on campus recruiting efforts for the company’s next class of associates. This fall, the Payne Team will be on several campuses to conduct in person interviews for 1st and 2nd year MBA students. Applications are now being accepted for the Payne Enterprises Part-time Private Equity Diligence Internship and applicants can visit Payne Enterprises — Careers to apply and learn more.
Principal Q&A: Journey To Payne Enterprises
Principal Joe Walsh walks us through his path to his current position at Payne Enterprises. Learn more about the entire team and see how our unique backgrounds build the foundation to provide value for our clients.
What is your background and what was your journey to Payne Enterprises?
I was originally a mechanical engineer and back in school I thought I wanted to get a PhD and go into academia. I did a masters in composite materials and realized the research world just moved so slowly. You got really deep in one area, but didn’t get a broader view of the world, so I left and went into industry. I did a couple of years at an industrial company where I was focused on materials and gear for military and first responders that protect them from chemical and biological weapons. I learned a ton during that time about developing complex products, leading teams, and actually manufacturing and shipping a tangible product.
I left to go to business school at Kellogg, with the goal of getting into consulting. I wanted to continue to learn, challenge myself, and see new industries. During my time at business school, I worked at Payne Enterprises part-time during my second year of school. I worked with Gavin (our founder) a lot over that year and I learned a tremendous amount.
After business school I joined BCG; I worked across a number of teams/groups, but spent most of my time there with the PIPE (Principal Investors and Private Equity) team. The people at BCG were great and I’m still close with a lot of them. I kept in touch with Gavin during my time there, and about a year ago, he offered me the opportunity to join the Payne Enterprises team full-time. I left BCG to help Payne Enterprises continue to grow and provide as much value for clients as we can.
What are some of the biggest differences between Payne Enterprises and your former consulting firm job?
There are definitely a number of differences, though the most significant is the scale. At Payne Enterprises, we are a small, agile team with a pretty different overall model compared to a large firm like BCG. This definitely has some disadvantages (e.g. large infrastructure like tech support), but I think overall being an integral part of a small core team makes the work and the job way more exciting. As you get smaller you just inherently get more nimble, you’re able to operate with fewer guard-rails and red tape, and you have more ownership of the work.
I think there are some personality-types that really value and excel within a more structured setting like a large firm, but I love being part of Payne Enterprises because I think it just allows us to move faster.
Finally, I often feel that because we have smaller teams and fewer internal stakeholders, we don’t need to build the same level of consensus. This allows us to have a stronger, sharper point of view when we do research. I’ve always liked being part of small teams and really it’s just been invigorating working here over the last year.
What is the best advice you can offer people looking to break into this industry?
Like most industries, there are the traditional ways of getting in which often involve specific schools/employers/etc and then there are the non-traditional ways, which often involve a lot of networking. Realistically, you should understand the traditional routes into strategy and private equity consulting and how applicable they are to you. If they’re not applicable, start building your network and skillset in order to position yourself as someone with unique expertise that can really provide a lot of value.
I’ve found on the networking side, “going for the story” or offering to help in some way is much better than trying to get something from someone. The more you help others, the more likely that others will come back to help you out later.
Payne Enterprises’ Annual Leadership Team Meeting
While working in a remote environment is a key part of our business structure, our annual leadership team offsite is an important component of our business model. It is a unique opportunity to sync up the operations and the diligence and market research sides of the business to spark ideas and collaboration. This year we spent three days of planning, socializing and brainstorming in Miami.
After five successful years in the industry, we used this year's offsite as an opportunity to revisit our core tenants and discuss what we stand for as a company. While our mission remains the same, our collective body of hundreds of diligences has proven that our new model of business works.
Our Mission:
To disrupt the market for private equity diligence and market research services by providing better quality products at a fraction of the price of traditional firms.
We believe there is a better approach to market diligence services for investors looking for insights. We provide that approach through a team of top level talent, a decentralized model and an innovative go-to-market strategy. By using this method, we are able to offer the quality of the top strategic research and management consulting firms for a fraction of the cost. Five years in, this concept has been proven by providing hundreds of diligences to the world’s largest private equity firms.
We know that if we continue to prove both our work and this concept — one project, one presentation, and one piece of analysis at a time — we can deliver high-quality insights to our customers for an incredibly attractive price point. When we do that, our work will sell itself.
We provide:
Quality analysis and insights
Collaborative partnership
Efficiency, honesty and decisiveness
Learn More About Payne Enterprises’ Capabilities
With more than 5 years of experience, Payne Enterprises offers valuable advice to PE investors, hedge funds and Fortune 500 companies. Learn more about what we offer our clients.