Biography
THE RETURN ON INVESTMENT COMES QUICKLY.
The return on investment comes quickly. That's not a question Steve Greenfield 04EvMBA found himself asking in the classroom. When Greenfield enrolled in Emory’s University's Goizueta Business School Evening MBA, he had the unique opportunity of applying classroom theories and principles to real-life practice at work. "There’s a lot of emotion attached in America to the car ownership process ... people really see that as a reflection of their identity."
Greenfield, who studied decision and information analysis from 2001 to 2004, created a consulting practice with Manheim, the company he was with at the time. It was at that company where he rose from technology manager and national account manager to director of international development and director of business development.
“I was able to literally come out of class at night, and the next day apply what I was learning and grab data from work and also apply it in the classroom,” Greenfield said. “There was a lot of beneficial overlap between what I was learning in class, and what I was able to apply in my day-to-day job. It seemed very clear and natural to me that this is the area in which I needed to concentrate.”
Greenfield has worked nearly 20 years in the automotive industry for the likes of AutoTrader.com, and currently as the senior vice president of strategy and business development for TrueCar. Along the way, the Toronto native has lived in Canada, Atlanta and California. He’s also witnessed industry dynamics evolve into a constantly changing environment that spans consumer behavior, ownership, ride sharing and most recently, the car subscription market.
Greenfield said the first generation of the internet led to more transparency to the consumer and more efficient ways to research, and connect with, vehicles to buy. Currently, Greenfield said, the industry struggles with what the second generation of the internet will deliver for consumers, and what the auto industry will become. Will driveway delivery of the vehicle become the norm? Consumers aren’t quite ready for this future state, he said, but they definitely want more transparency and control in the car buying process.
He noted a car purchase is typically the second largest purchase you’ll make in a lifetime after real estate. “There’s a lot of emotion attached in America to the car ownership process, and people really see that as a reflection of their identity and get very passionate about cars,” he said. “So it’s really hard to decouple that passion around having that relationship with the dealership, test-driving the car and starting to build that emotional connection to the vehicle in an abstract world where all you’re doing is researching online and clicking buttons to buy.” "Opportunities seem to present themselves more frequently to those folks that are a little bit more deliberate and premeditated around building a skill set, and working really hard."
The whirlwind of changing dynamics in the auto industry helps Greenfield remain engaged with his work.
“There’s so much change that has happened, and is going to happen in this industry, that it keeps things exciting enough to keep my head in the game,” he said. “The interesting thing is despite all of the evolution of digital shopping tools, the shopping process is still very painful for the consumer. The online and digital tools for the consumer just haven’t evolved to the point where the consumer’s 100 percent confident in their decision making. There’s a huge distrust between consumers and car dealers in general. Consumers still loathe the process. So there are still a lot of needs out there that need to get solved.”
One of the needs he’s trying to solve at Goizueta is developing more resources toward entrepreneurship, something he said the school has made substantial gains with since Dean Erika James began her tenure. Greenfield, who spent nine years on the Goizueta Alumni Board, including two as president, is now president-elect of the Emory Alumni Board. Greenfield is also co-president of the Emory Entrepreneur Network. Greenfield, a former alumni board president, pictured with other organizational leaders.
Greenfield has helped foster an environment where entrepreneurship is encouraged. It’s something he witnessed firsthand working in a corporate role, and then as an entrepreneur. The Emory Entrepreneur Network tries to help in three areas: to grow student resources, help alumni in the corporate world consider taking the entrepreneurial jump, and provide support to alumni who are entrepreneurs. Shepherding students into consulting, marketing and finance roles is a core strength for Goizueta, but the school needs to continue to provide support to those students who have an entrepreneurial bent.
Advice for current students considering a future of entrepreneurship? A veteran of several leaps himself, from moving around North America to transitioning across various roles in his industry, Greenfield summarizes his personal mantra: opportunity is where luck meets preparedness.
“I think this really started to resonate when I was at Goizueta,” he said. “The fact that you need to work really hard in life and figure out what you’re going to focus on, and be really, really good and exceptional at it. Then have your antenna out to be able to monitor when opportunities present themselves. Opportunities seem to present themselves more frequently to those folks that are a little bit more deliberate and premeditated around building a skill set, and working really hard. Those are the people who typically create more opportunities in life.”