Why job hunting at a company partnered with private equity is nothing like you have
experienced before.
Looking for a new job this year?
There are interesting career opportunities being created by owners of
companies who are partnered with private equity. I hire for these unique
businesses and have come to see a huge difference compared to corporate
recruiting.
It may seem choke on your chai tea rude to say businesses with private
equity on board do not care about your career. If you grasp this difference
though, you are more likely to get the job and make them care.
These businesses have owners. The private equity partners are also owners.
Can you put yourself in their shoes and realize how you will impact directly on their personal bank balances?
These owners are self made, ego driven characters. They have been beaten
up; it's no longer business as usual, rules have changed big time. Owners
take risks at major cost to them and their families. Now they are risking it all
again to make the leap to the global market.
Take Guy Ritchie--Madonna's ex-husband or play thing--he knew to leap out
of England
make you be creative.) Guy came to terms with losing some control and
partnered with private equity. Even though he managed to pocket a 50
million pound settlement from his missus, his private equity partners raised
$80M to film his meandering, but wryly amusing Sherlock Holmes movie.
With this partnership, Guy was able to bring in talent to appeal to a crowd
not familiar with Stephen Fry, Baker Street
Robert Downey Jr. and Jude Law were the best part of the movie for me,
although I am also rather fond of Rachel McAdams, but preferred her in The
Time Traveller's Wife. Did you know Brad Pitt was the executive producer?
I digress.
And that is exactly what I am talking about - when speaking to private
equity companies, do not go off on tangents, no matter how delightful
and deliciously amusing these may seem. You will appear off target and
plain wasteful.
Keep all conversations (phone calls especially) razor focused on the actions
required on the job within the first six months; why you are the one to do
this urgent and purpose-filled work. The information to get across is your 3
step plan to make the business more money than Brad Pitt could hold above
his head.
Working for owner managed companies is not like the 100 Top Companies
with toaster oven prizes at the monthly beer bash. Owners are anxious for
results, for action, for hefty pushing the wheel up the hill. Leave out
indulgent chats about your recent ski trip, why you can not make a five
o'clock appointment because you have to pick up the kids, how your child
won a scholarship to Ivey, is visiting Nepal
think you are bonding, they are hyper-judging.
If you are from a corporate environment, you will be suspected of having soft hands,
soft soaping your seniors rather than telling the harsh truth and comfortable
calling in consultants rather than rolling up your own sleeves.
Understand that about 150 other people applied, and there are 5 who are a
better fit. Realize that you can leap frog them by knowing this one tip: it is
not about your stupid career, it is about how you would help the company
bring in cash flow.
Companies where private equity is a part owner really, really care. Have
you made a company performance oriented? How did you contribute to the
top line, not the bottom line (and if you don't understand that - call your
favourite business coach.)
Private equity partnered companies work lean but give opportunity to use
brains and skills. Former armed forces people can be found in private equity firms probably because they are used to jumping out of helicopters with people screaming "Go, go, go!" That is the environment. If that does not appeal, go to the Post Office. I hear they have terrific careers.
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