First Call
What are some questions you’ve been asked on a first call with Biz Dev for MM?
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Based on the most helpful WSO content, here are some questions you might encounter on a first call with Business Development (BD) for a middle-market (MM) firm:
Background and Experience: Expect questions about your prior deal experience, especially if you have any buyside deal experience in your current role. If not, they may ask about your general M&A or industry experience.
Why Business Development?: Be prepared to explain why you're interested in a BD role, how it aligns with your career goals, and why you're transitioning from your current position.
Understanding of the Role: They might ask how you view the BD function, your understanding of sourcing deals, and how you would approach building relationships with bankers or other deal sources.
Industry Knowledge: Questions could focus on your knowledge of the industry or market dynamics, such as how you would identify opportunities or assess potential targets.
Networking and Relationship Building: They may ask about your experience in networking, managing relationships, or attending conferences/events to source deals.
Investment Criteria: Be ready to discuss how you would evaluate deals or understand the investment criteria of the firm.
Outbound Sourcing: If the firm emphasizes outbound sourcing, they might ask how you would set up an outbound sourcing initiative or build a tracker for potential targets.
Cultural Fit: Questions about your working style, how you collaborate with teams, and how you handle rejection or challenges in sourcing deals.
For a successful call, ensure you demonstrate your understanding of the BD lifecycle, from sourcing to execution, and tailor your responses to the specific firm's focus and strategy.
Sources: Non-target/diversity > MM SA > BB FT > MF PE, My advice on an initial call with a VC, Q&A 2.0: 3rd Year BA/A/AC At MBB Going To UMM/MF This Summer, Corp Dev / Strategy Role - No Deal Flow?, Took an Associate job at a tiny firm, how screwed am I?
BD intro calls are similar to PE HH calls imo. Chat resume, understand what vertical you’re a fit for, etc. Then they throw a couple opps at you and gauge interest. You can ask about their opinion on what sets the firm apart, their spiel on risk limits, internal development, etc. Their job is to collect candidates and throw them at the pods hiring, in my experience they’re not screening you out unless you come off as a terrible candidate.
Ty. If BD provides potential PMs they will pass notes for intro, is it a sure thing you will have those calls? How long does it take from BD call to call with PM?
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