How to train attention to detail

One thought - keep a running list of feedback that you've gotten (decimals, spelling, numbers not tying, missed rows) and turn it into a checklist for yourself to review before submitting work going forward. Over time, ideally you'll turn these errors into habits so your work is error-free when constructed and/or your self checks pick these things up vs. someone else.

I'd also encourage you to take a step back and think through how your superior is going to check your work, then run those checks yourself. Example - does the P&L on output tab of the Excel match the P&L tab on the drivers/input page, does EBITDA tie (# and format) across every page, does your historical P&L tie to the CIM, etc.. Usually, their checks won't be groundbreaking, so you can head them off and ideally start to limit the feedback and iterations over time.

Sharing some advice I use on/give to my Analysts:

Instead of asking them to just "go through the slides and see if there are any mistakes," I tell them to "find me at least x number of mistakes" (e.g., 100pg doc, find at least 30 mistakes). There might not be more than 5, there might even be 50, but I've noticed fewer mistakes are missed when the bar is set high. I do this myself during any final review.

For numbers on Excel, on top of what everyone's said, make it a habit to 1) graph out figures to see if there are any irregularities (it's visually easier to see if you've missed a sum) and 2) use sanity-check functions (e.g., EXACT) for every key figure to make sure everything ties.

It is time consuming but doing 2 checking is probably the most effective thing:

1) numbers (checking all of them, decimals, currency, etc), alignement, colors, font, size, etc. Prefer to do this part on PDF to ctrl+F and have a better view for slight change of alignement between slides

2) Syntax/grammar/meaning check focused on the text both for spelling and coherence. This has to be done on paper and it is even better if it is done by another analyst/intern to ace the coherence part

I made mistakes.  I didn’t update the terminal cap rate on a sensitivity analysis on our summary page of our deal brief (5 pager).

The VP told me to follow him to the conference room.  He then asked me, “what is your role?” I said “Analyst.”  “But what do you do?” “I analyze.”  Then he talked about being able to trust my work, and that I can’t have mistakes. 

That fear paid off while I was there, but trained me in my career.  I was laid off a couple years later during the GFC.
 

• Double and triple check memos before they go out by printing them and getting my Blue pen to check off / cross reference every number and sentence and format.  Then, after I correct them, I real time mark it complete with my Blue or Green highlighter.  
   
• for excel models, I constantly “save as” so I have a trail of files to look back on.  “Why did the economics change so much in the past hour?” I can look back and compare.  Maybe there was an error or typo assumption. Maybe not calc’ing right.  Also, avoid heavy modeling when you are tired. Doesn’t help anyone.
• Have the fear that someone else could be in your chair if you don’t perform.

End of the day, attention to detail is partially visual spatial intelligence, partially methodical processes and thinking, being physically and mentally in the right place, and having enough time.

The part about Time, learn to get really fast at the mundane stuff with excel hot keys, an organized mind, never recreating the wheel, and KISS (keep it simple stupid - with an eye for the big picture and why you are analyzing and for whom).  With more time, you get more time to refine.

I also don’t understand why analysts (other than those who track the stock market and see multiple tickers) need two screens for their computer.

Anyone who has played Where’s Waldo or the game where you look at two pictures and find what’s different knows that looking at a smaller area is easier.

For attention to detail, “go deep” into your one screen and turn off that 2nd monitor.  
 

Also, “10-key by touch” a skill I learned as an auditor, if very helpful.  Save time and accuracy. 

ALT + E + F

Helps open another copy of the same ppt

Useful to check numbers in one page with other pages in the deck. Particularly if you can’t print.

Sometime also email the pdf to myself and check it on iPad. You will be surprise how much of a difference it makes.

Problem with checking your work is you won’t spot the mistakes on the same screen you created it, just the way human mind works.

Fear helps, but only to an extent, I prefer methodology. My MD once said after you consider a deck finished and ready to send, take the time and check it 3 times, you may waste 30-60 mts but worth it in the long term

As a junior employee in a high performing role, this is one of the main things you’re expected to do - hone your attention to detail.

Don’t freak out - nobody walks into your career with a sufficient attention to detail.

And the best way to hone this is by working with strong superiors who catch your mistakes.

As other have said - use the bar set by your superiors and fear of not meeting that bar - as a tool.

Your goal should be: when you review any numbers (reviewing your own work or anyone else’s) for every single number you should be trying to figure out - how can I have e confidence this number is right? Once you keep asking yourself that question over and over - you’ll find faster and faster ways to a check your work and it will become second nature.

I generally find attention to detail a declining skill, especially in young people. So much multitasking, multiscreen activity, etc. Just slow down and take the time to read everything at least twice. Period. No excuse for not doing that.

Unrelated (but related if you know what I mean), I see so many younger people rushing to execute something online (clicking 100 mph while setting up reservations, purchasing something, looking at job applicant requirements, whatever) only to make mistakes. Just had this happen at the bank the other day. Banker was setting up a new account for us. Asked us a bunch of questions. Then click, click, click, click. "You're all set". Had to go back tot he bank because she clicked that I don't want a debit card (what?) . I wanted to say, "Slow down and actually look at what you're doing..."

It's all part of the same issue.

I am in a similar boat as you. As the only analyst, you gotta triple check things if you have enough time to do so. I would recommend getting up after you've finished a deck or part of a model, take a 5 min break, and come back to try and look at things with fresh eyes. That technique has helped me tremendously.

Your experience is very normal. You have to realize that a lot of partners and senior people in this industry like things done their way, and no other way. They also like to change their minds a lot regarding formatting, etc. Even though you may think you are just colossally fucking everything up, it could just be that you don't know exactly how they picture things to look when they give you a project. Over time, you will learn what your partners like and don't like, so you will get better.   

My Managers at Bain used to always catch small mistakes that I somehow missed, and it was infuriating, because I went through all the steps I knew how to do and just couldn't figure out how they say something in a model 1000 rows in.

Had the bright idea one day to swallow my pride and ask them to show me exactly how they were zero-defecting my slides and model, and took detailed notes on what they did to check everything over. 

I made that into a list of things to check, and asked for subsequent follow up to train on that each time they found something else that I should have caught. The first couple sessions got me about 90% of the list.

From then on, I used their process each time to go through my models and slides, and ended up catching the vast majority of my mistakes--problems went away virtually overnight. Now, I'm pretty sure that I still had a bunch of problems, to be clear, but it wasn't were THEY were looking, and I trusted that THEY were looking at the right spots, given that they had much more experience than I had. 

I've brought that into PE and it's served me well. The list is the usual suspects--check that Revenue and Gross margin are the same everywhere, make sure the model is broken down into drivers, make sure that the inputs are blue and that every step in the calculation is broken out into a line, etc. but I have the nuances on how my manager will check it out, and when I follow what they say, then I'm usually doing fantastic.

Paranoia

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For me, it’s always been just driven by paranoia where you finish your assignment and then afterwards print the deliverable or save as PDF and go through every page and question every number / sentence to make sure it’s right (assume everything is wrong and double check how it was done).

Probably not the best way since it makes you slower and will likely lead to burn out over time. 

As a lawyer, I can spot a double space from miles away (also on printed material). But if you don't have this superpower: CTRL+F double space. Don't know if relevant in banking but super important in law.