Getting reps as a new VP
Joined an UMM firm out of business school this summer and things have been very slow. Have looked at a fair number of deals but nothing has gotten to the point where I’ve gotten what I feel to be a good rep involving leading DD, legal, IC, etc. I feel as an associate you can always sharpen up your modeling skills, read old memos, etc. but at the VP+ level you can only really learn by doing. I’m sure deal flow will come back and I’ll have opportunities but any advice on how to be ready for that when it comes?
Based on the most helpful WSO content, it's common for new VPs to experience a period of adjustment where deal flow may not be as robust as desired. Here are some strategies to ensure you're ready when opportunities arise:
Proactive Learning:
Relationship Building:
Skill Enhancement:
Efficiency and Preparedness:
Mentorship and Guidance:
Business Development:
Remember, the key is to stay proactive and use this slower period as an opportunity to build a strong foundation for when the deal flow returns.
Sources: New VP struggles - asking seasoned VPs for help, New VP struggles - asking seasoned VPs for help, Q&A: VP in Private Equity (Growth Equity + LBO)...Post-MBA...Formerly IB Analyst, Starting to Hunt Your Own Deals in IB, What's Your Five Year (IBD) Plan? A VP Reflects and Looks Forward.
1. Do you have a portco? Lean into that while you have time. Build relationship with management, drive some tuck-ins. Is there potential opportunity for a recap? Interest rate hedging? Renewing a new contract? Hiring a team? You can drive a lot of that (YMMV depending on your shop and how much latitude you have)
2. Domain expertise. Start evaluating some lanes that haven't been taken from an industry coverage perspective. Go to conferences, meet peers, meet bankers, start developing your network.
3. At the end of the day, deals beget deals (and experiences begets experience). There's a huge element of luck. And yes, the whole industry is in the dumps so much of it is largely out of your control.
Great advice, thanks
Bump
What was your pre MBA experience?
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