Sylvia Yamamura, director of business development at Entrata.com (formerly actBIG.com), has worked at Goldman Sachs and Davis Polk & Wardwell. Now she's firmly in the startup realm. We catch up with this busy woman.

Vault.com: What is your work background?
Sylvia Yamamura: I worked at Goldman Sachs in two different positions over a two-year timeframe. I started out in fixed income, structuring banking deals and then transitioned into wealth management. Before that, I worked as a lawyer in the corporate and tax departments at Davis Polk & Wardwell.

V: How did you go from banking to working in the Internet?
SY: It was coincidental, and not something I actively pursued. I was working with a number of individuals in the Internet industry. I am an avid consumer of services on the Internet and was aware of different types of business models. I noticed types of strategic partnerships that I thought might be helpful for the individuals I was working with and sent them my suggestions (not really as part of my position at Goldman). I soon found E-commerce companies coming to me and asking if I would be interested in exploring opportunities in business development. Some of the opportunities were great ones and I really wanted to explore them.

V: You mentioned that you had developed a familiarity with Internet business in your job in banking. Did you do any other research or preparation before changing companies?
SY: I definitely did research the industry. There are many different types of business models - I would suggest going one step deeper in your research so you can speak about them with authority. There are many resources online to provide you with research.

V: Since you were courted by different companies, how did you decide upon actBIG.com?
SY: I spent some time weighing my options. I wanted to experience the entire startup process and find an Internet business whose business model was novel and exciting. actBIG.com was a great fit for me in a number of ways. It was just starting up with four individuals and I had wanted to really see what it's like to build something from nothing. . Because of the rapid pace of the Internet, a difference of just four months can be huge. When I joined, it was just five of us, so I really saw it from the ground floor. actBIG also has a very compelling business model; it is trying to harness the power of the Internet to amass previously unaffiliated individuals or small businesses and allow them to initiate or join in group purchases to get access to great deals.

~ V: So how exactly did you go about finding the job and getting an offer?
SY: I knew one of the founders of actBIG. He has very clear and ambitious business goals and vision and I really understand what he is trying to accomplish with actBIG - it is very exciting. I also felt the chemistry with the entire team worked well - the chemistry with people you work with is very important. I met with everyone else - though there were only three other people (laughs). We talked about what direction for the company they had in mind, and it really fit in with my thoughts about what would be an exciting endeavor to try to achieve in the Internet medium.

V: Did you experience culture shock going to a startup from an established company?
SY: I don't know if there's anything that quite prepares you for the overwhelming immersion - every minute of the day is spent on the business. It requires preparation mentally as well as physically. What is most difficult about changing to the Internet industry is that you really lack support. At Goldman Sachs and Davis Polk, a lot of the administrative aspects of work are taken care of for you. You have a phone, a fax, office space, and a staff. A startup has none of those. You have to do everything, including vacuuming the floor.

V: As director of business development for a startup, what kind of work do you do?
SY: It's a number of things. First, I work on seller partnerships - sourcing and thinking strategically about what types of products you want to give access to. Second, I spend part of the day talking to manufacturers and distributors to expand our network - working on developing distribution partnerships where we give our cool e-commerce [capabilities] and they let us have access to their user base. Third, I work on marketing partnerships to campuses, small businesses, and professional associations.

V: Is there research involved, to identify potential partners?
SY: There's research, there's negotiation, there's some drafting of contracts. Sales too - pitching why your service is a must-have on someone else's site. It's a blend of selling the concept and sourcing.

~ V: What skills does someone in your position need?
SY: One of the key things is to be able to be a clear communicator. It's constant selling - you're trying to communicate why this concept is so compelling. Being able to structure transactions, how to craft a deal is beneficial. It helped me a lot that I had structured deals at Goldman.

V: So you would suggest that people get experience in banking before working in business development at an Internet startup?
SY: I don't know if it's necessarily a requirement, but I found it helpful. A lot of this you can learn along the way, although people now have to come with a certain skill set. It's more important to have boundless enthusiasm for what you're doing, to have a lot of energy and optimism, and a willingness to work extremely hard and execute.

V: Where would someone in your position do next?
SY: I would imagine we'll have a larger and larger business development group, so it could be heading that up - being in a position [where I'm] thinking more about strategy than actually executing deals.

We have a flat hierarchy here. Everyone pitches in, so you find yourself wearing many different hats. [Plus] one year of Internet time is an enormous amount of time in terms of experience gained. So the sky is the limit as far as what future opportunities you can explore.

V: Do you have any other advice for people looking to switch into the Internet industry?
SY: That's funny, because I have a lot of friends in banking who ask me that question - "what should I do?" My advice is really just to go ahead and do it. A lot of what holds you back is that you make a lot more money in established fields and it's much safer. It's hard to leave the security of that world. But if you think of this as a once-in-a-lifetime experience - and it is, since nothing else has changed the way business is done like the Internet - you should just make the leap and not worry about working for a prestigious firm. Just pursue what you want to do.