How to think from a Managing Director perspective?

With the coronavirus lockdown in full force, the mind has more time to wander on random thoughts you've had but haven't bothered to unpack quite yet.

As an Analyst, you're the fulcrum of everything which comes through on a transaction. Building/updating transaction models, research, drafting pitchbooks/prospectuses etc. Sometimes you can plan your work around clearly defined workstreams, other times you get given something on short notice, is urgent and needs to be done ASAP. So your role and mentality is very much focused on the day to day, technical work and you often can't afford to think too far ahead.

The higher you progress to Associate, VP, MD etc. your role becomes more managerial with people below you to coordinate different workstreams. You aren't spending the bulk of your time at your desk, though there are days where you are (e.g. pushing final transaction close), but rather spending it on more calls, meetings, travel, lunches with clients/advisors, attending industry seminar panel discussions, originating deals etc. Because of this, the nature of your role becomes much more longer-term focused on strategy, team positioning, tailoring origination in target jurisductions/sectors etc.

I'm pretty confident in doing my job as an Investment Analyst, but to get to that upper echelon of senior colleagues what mindset do you need? How exactly does an MD think differently/view transactions from an Analyst once the technical skill aspect is equalised?

I think this is helpful to know because once you know how an MD thinks, you'll be able to build the same mentality when looking at deals. Or you'll know what the salient points an MD is after in a discussion over a model, pitchbook, IM etc., so you have a clearer sense of what commercial and model points to discuss with them without getting caught up in unnecessary minutiae (which may be important knowledge for an Analyst or Associate but not an MD).

Any insight from whatever perspective, HF/PE/IB/Institutional Investor/anything else, on this would be great! Keen to hear others thoughts on this