One of the great things about being a Veteran is having a Network of War fighters you can call on when doing a Article like this. As such I feel it’s fitting to name a few Veterans doing some big things.
First I would like to start off with a Natural leader, a Leadership Teacher, who trained myself to be a servant to others and especially to the community. He is fast becoming the go to man Law Enforcement and Civic Leaders Call to train their teams in Leadership.
Article:
Coming Soon.
If you have been planning to make the move into the Private Equity space, your probably wondering “How can you get a Job in Private Equity?” Right? Well this post is all for you!
I imagine many of you who visit this Post. Are currently working as an associate at a large New York Bank or Financial Institution? Or maybe your a broke college student that just finished earning your MBA and your wanting to get in the door for Private Equity? Great news for you. What I am about to share with you. Comes from experienced Private Equity Partners and Professionals who have been there and done that! So let me introduce you to a Youtube Channel I have been watching on this subject. It’s that good!
I need to introduce Mr. Peter Lynch. Who is Peter Lynch?
According to his website “A Simple Model”, Peter Lynch, is previously a founding member of the investment team at Hilltop Opportunity Partners (“HOP”), a merchant banking business launched by Dallas-based Hilltop Holdings Inc. (NYSE: HTH). Before joining HOP, I spent 8 years working for Argenta Partners, a private equity firm focused on control-only equity investments. From 1989 through 2016 Argenta achieved a cumulative annual internal rate of return for all invested limited partner funds of 27% net of GP carried interest and fees. Prior to that, I worked with the M&A team at Rabobank International in New York City, and with JPMorgan in Buenos Aires, Argentina and in Santiago, Chile. To prepare myself for the professional world I attended the University of Pennsylvania.
To drive home how important it is to get your foot in the door for Private Equity? I would highly suggest you watch this One on One interview between Peter and his friend Brett. Brett is a Partner of a Private Equity firm, finished his MBA at Columbia and has risen in the Partnership of his own private equity firm. Watch the video and take notes to gain an edge on “How to get a Job in Private Equity.”
In this video below you will learn a few things and “How to’s”
-Develop a network for getting in the Door.
-Follow Up on past opportunities while simultaneously developing a relationship.
-Fast tracking your way to succeeding in the Private Equity Space.
-What you need to commit to and how to make things happen for your interviews.
To learn more about Private Equity? Please visit Mr. Lynch’s Youtube Channel (CLICK HERE!)
Take it from the Private Equity Pro’s who have worked and risen in Private Equity. this. The video interview below is a must watch, if your wanting to learn “How to get a Job in Private Equity?”
I do hope you enjoyed this interview as much as I did. This entire interview was fantastic.
In conclusion please be sure to go check out Mr. Lynch’s website all about Private Equity “A Simple Model” I have to include the brilliant training Mr. Lynch offers and teach’s on his Website. Its a training website for Financial Professionals in Private Equity.
Thanks for coming by, I hope this brings you incredible insight and value like it did for me.
JS
Most Business Professionals are going to find creating Proprietary Deal Flow on their own without help ridiculously difficult. But if you have a good attitude and use your own professional networks. You may just have a fighting chance. How does a entrepreneur become known as someone that will look at your deal? It just kind of develops on it’s own and happens. Here is a story how I was approached by a Veteran Brother to look at a deal.
If your running a Search Fund, or if your a accomplished Investment Banker, or even Hedge Fund manger creating streams of Proprietary Deal Flow is no easy task. Here’s some fundamentals that will help you along in your search. Let’s get busy.
Some Entrepreneurs, VC, and Private Equity Fund Managers are new school. But most are still using the Old School Deal Flow opportunities. Or better put! Business Partners of a certain wealth level, more likely known as “The good Ole Boy’s Network.” Watch this insightful honest insight form Entrepreneur Naval Ravikant. Oh! Click to read his Almanck Book.
Is Proprietary Deal Flow dead as Naval shares? That depends on who you ask.
First we must list the different way’s many Entrepreneurs, VC’s, Private Equity, and other Investors access Deal Flow Opportunities. And the truth is this. It comes down to your track record, credibility, who you know, and people you currently do business with.
All great questions of who? Now what actual tangible useful advice can I share with you to begin building that network of Deal Flowing opportunities? This is where it pay’s to be a shrewd networker and belong to certain communities. Truth is I am always strategically looking to develop my network and deal flow opportunities. I must share this particular post will be about being a member of a group that is across the world. Yes I do belong to a few networks that involve groups of men that have served our Country in the Elite Special Operations community. Its a fantastic community to be involved with. Their is always someone who served in Uniform that ended up being a Professional in business somewhere. This community Is packed full of professionals that are great to know!
For purposes to share how opportunities happen. I would like to share with you this short story. A good friend and Veteran Brother who is a newly retired Army Special Forces Green Beret. Let’s call him John.
John is undoubtedly a professionally trained Bad Ass Guerrilla who served in Afghanistan and also has a Business MBA. He was up until recently the Chief Operations and Development Officer for a Harley Davidson Product company. This business is growing because of who John is and the groups of men he knows and activities he does on the weekends. This company manufactures a part for all new Factory Harley Davidson Motorcycles.
Listen to this. We follow each other on Instagram and have known each other for sometime prviously in the SOF community. I ended up doing some professional work with a former Team Mate of Johns. And we got to know each other online over time and through friends of friends. John had messaged me he was moving on in life from his position at his company. And the team who built this company wanted to sell. Interestingly this Business has a impressive Hockey Stick sales profile. And is growing literally quarterly. Annual Revenue was right at about 20 million dollars. The owners were motivated to sell. Since they are ready to retire and move on with life.
If you like this Post Check out my previous post on if you should Trust Business Brokers?
At the end of this opportunity it was fast turning into a Broker pursuit. And my mentor and business partner was persuasive enough to share with me we needed to stick with our own industry and strategy. But it was neat to look at this company.
With this story complete you can see having a personal network or belonging to a member only club that expands across the world is ideal for deal flow opportunities. It seems I should probably go into more strategies and developing business relationships to expand on this a very wide subject. I do hope you received something from this moderately long post. Because in the end it’s gonna most likely be people who know you and your business reputation that will approach you. And they will come from all walks in life as Naval Ravikant shares in the Video.
Thanks for Reading & Godspeed!
JS
Warning this is a No Bull guide to recruiting an Accountant that is World Class. And will take ownership when they need to. So dial in and read carefully. I would also trust but verify during due diligence. Always.
It’s vital for all entrepreneurs to have a close friend and advisor who is a Rockstar Sr. Partner of one of the Big 4 Accounting Firms. Or if this is not accessible to you as a Entrepreneur. Recruit from the pool of Partners at large Regional firms who are professional Business Advisors and Tax Advisors. Be mindful its good to have at least two professional accountants who are experts in Tax and Transaction Advisors. And a Tax Attorney for good measure.
This post is going based on my experience since I have had to do this several times being I am a M&A Entrepreneur. The best qualifications for Partners of Accounting firms you targeting as a Entrepreneur? Don’t actually begin with fancy Degrees or Elitist College. I will say it’s nice to have a Partner Accountant who has this, but in my experience it’s not needed. But what is needed are 2 qualities. And also need at least 10 years of Transactional Experience. Interestingly Partners of big firms often are often sought after. But to me this is a huge mistake. Just simply from the life experience they possess and leadership from their life at a Big Firm. They honestly are secret weapons in Entrepreneurship. We are lucky to have two Big Firm Sr. Partners from PWC and KPMG on my team. They are named John M. And Tim O.
A. Transactional Experience. When a Partner served years as an Associate with their firm. More than likely they spent years cultivating and crafting their advisory experiences. Forming personal relationships with many Senior Executives across the world as they work closely together. Due Diligence during and before Transactions are where they will be extremely effective as you build your investment group or business foundation as a Entrepreneur. Search Funds usually have Accountants with experience mentor Search Fund entrepreneurs along their search.
Accountants are also your best friend when it comes to Business accounting practices, also it’s important to have their guidance, advice and looking at Taxes and the path forward for your venture. It’s absolutely vital an Experienced accountant be present when looking at deals and transactions. No excuses period.
B. Your accountant should have solid integrity. Meaning if he exaggerates in any way during your first 6 months of knowing him. Discard and start over with new interviews immediately. Integrity to me is the ultimate qualifier. If I can surreptitiously evaluate our conversations. Along with our advisory content while listening with my gut feeling? You will know if you can trust this Accountant and partner. Then monitor their performance as needed.
When choosing an Accountant one of the Men who taught me how to be a super informed Entrepreneur is my fellow Navy Veteran and Naval Officer the Honorable Mr. Ross Perot. Navy Lt. Perot shared in his Book “My Life & Principals for success” Ross Perot shares in the book “Employ a First -rate accountant. Absolute loyalty and integrity is essential. They should be detail oriented. Excellent Grades in College. Both a CPA and Law Degree Specializing in Tax and corporate law. Experience with a major CPA Firm. END.” Now Ross likes accountants with Law Degrees. I would say it’s fine to have a newly retired Partner from large firm. And a TAX M&A Attorney to cover your bases. But definitely have one of Both. But for this purpose of Accountants? Definitely recruit an Experienced Accountant from a large firm. You should be safe on your journey after you heed this advice.
How does a entrepreneur with NO Business experience and No impressive winning Credentials or Track record for that matter. Go out in the intimidating business world and schedule interviews with super successful Accountants for your growing team? I would like to offer a solution that worked for me. Ok Now this is very personal. So I do hope you take this hard fought wisdom. And use it wisely. And pass it along to struggling entrepreneurs. But first let me tell you something about personal commitment. I went out in to the crazy big world researched for months possible candidates who would possibly be a good fit as a partner & mentor. And in the end I amazingly Recruited an American Billionaire just from a cold email and cold call. Ya that’s bragging rights right there. lol But I digress. In order for you to recruit a world class Accountant. I would hope you have some sort of track record to bring to the table. And if you don’t your not out of luck. I would first focus on partnering with a local Ultra Successful entrepreneur. So at least you have something attractive and a fraction of credibility.
This will be very short. The most important issue is deciding if the Accountants natural energy and conversational flow. Compliments yours. Do you have a good feeling? And make sure your gut tells your inner voice they are a good fit. Make your decision only after 3 or 4 interviews.
Have a list already prepared. And do look at some of the points I have previously mentioned above in this How to guide. It’s all really up to you. However if you really want to ask some deep diving questions? Have the Accountant tell you about their career progression. And ask about some of the transactions that were the most enjoyable. This should be a great start to a great relationship.
I do appreciate you reading this far into my disruptive pattern of thoughts and advice. If you received something worth your time here? Please be sure to comment, like and share the Article on Linkedin or whichever social media platform you use. I do not get paid for my Blog of growing Business experience. However I do like to write about things that I have learned. And I hope just maybe. The things I have learned the hard way will be learned and put to use by a new Entrepreneur reading this blog. That to me is giving back to my community and it’s honestly my duty.
Thank you for reading and I do hope you return to have questions answered again one day.
JS
In this post I am going to reveal the secret formula I use that could help Real Estate Agents, Business Brokers, and just any serious entrepreneur who wants to take their life and business opportunities to the next level. I would like to share a unique story that happened to me recently. It’s a story that is completely Serendipitous. And shares how using service as a helpful friend while not asking anything in return. Will help you develop trust within relationships with people who can change your business future.
Two weeks ago I was searching Downtown Kansas City, Missouri for possible Buildings and Multi Family housing as possible targets for Acquisition. And I pulled up in front of this large building that has a History in the Crossroads area. It was once built and used as a commercial property for a Fortune 500 rubber company. I liked what I saw. The old building has real character and personality. So I decided to research who the company was that owned it. And then I made the call.
Now I must share that I made this call at 8:15pm on a Friday evening. So I was certain I was probably going to end up in the mailbox. However let me describe what happens next. The traffic is going by, it’s loud. People are walking by going on their way to dinner and enjoying their evening. And here I am in Khaki Shorts and old Ripped up military T-shirt cold calling the Owners of this 9 story building on a Friday night. So I dial and take a deep breath. And it rings. Then just as I thought I hear a voice that has to be the Answering machine. Or was it? Nope. It was the owner. And I was Shocked!
It was 8:15pm Friday Night and I have reached the owner of the Building. And from my limited research He has a portfolio that seems to be at right about 25million Dollars. So I immediate begin talking to him and sharing how I am outside his building and how I feel his building has Character and Personality. It’s literally a fantastic Building. Mr. N begins sharing more about himself and how he has worked hard on the Building. And I say back, I can tell. Im impressed. And before I know it. Mr. N introduces the idea we should meet in person. And usually that would be during business Hours the next week. However an Entrepreneur immediately recognized another Entrepreneur. And we both agree now is great. He shares his Address to his home a few blocks away.
So after spending several hours with this Building developer and Building Owner. I look down and see it’s 10pm. How many entrepreneurs can say they cold called a Commercial Real Estate Developer on a Friday night and established a future working relationship? It’s just one of those cool stories that is serendipitous in nature. I really did with all honestly have a blast getting to know this Couple. I found out that this Commercial Real Estate Developer and owner I just met needs a trusted experienced friend to help with Marketing and developing other opportunities within the local market. That is something I definitely can offer as a friend.
So at the end of the day. This new relationship with these two fantastic like minded Business professionals will likely develop into a working alliance that will grow organically. How awesome is that? It truly is just one of those crazy cool stories you will have as a entrepreneur if you take caution out of your approach. And move forward with the intent of being a servant, seeking to understand. And just going for it. You honestly just never know what will happen if you let the chips fall where they may when doing cold outreach.
In conclusion I would like to highlight an important business entrepreneurial lesson for anyone who is a Entrepreneur or relies on Sales to succeed. If you just take one step forward fearlessly. Be willing to serve others and help them without expecting anything in return. Your going to have a very very successful future. However if you include service with a smile and seek to understand how you can help them achieve their goals without expecting anything in return. Your going to be a killer in your space or market guaranteed.
You most likely will think I am Bat Shit Crazy for sharing this. However the TV super star of “The Profit” on CNBC Mr. Marcus Lemonis is good man responsible for sculpting my empathy and my sensitive approach to business relationships. Don’t believe me? Here’s your proof.
I do hope you learned something from this encounter. It’s my hope that anyone who reads my Blog post’s can and will leverage my successes and defeats for their own entrepreneurial successes.
Thank you for reading.
JS
