Time and again I see this ... our success is determined by the size of our WHY. (insert size joke here)
A close friend of mine started an energy savings company 10 years ago.
His WHY was saving the world by reducing energy use, one person at a time.
They built the tech around this - got VC, built a business from scratch.
They just merged into a bigger company, and he gets to be CEO of a 400 person, $100/year company.
His equity stake from the dwarfs my lifetime of earnings, even in PE.
His WHY was - reversing climate change.
It's a big WHY.
Another contact built a photovoltaics company that he took public.
Big why, big success.
Now, maybe saving the world isn't your thing.
But even if ibanking or PE is your aim, then you'll need a convincing answer as to 'why' or you will fall flat.
You still need to have and express a 'why'.
And "lots of money" probably isn't a great 'why' - at least not by itself.
I think back to my first PE interview, and my why was -
"I want to build companies.
I don't know how to do that as an entrepreneur, but I think I can do it as a helpful investor.
That's why I'm advising startups now in my free time, helping them raise money, etc.
I love the entrepreneurial energy, and that I get to drink from that fountain."
That was the tipping point in the conversation.
You could see I won the CEO over right then.
Even for ibanking I could see you emote:
"I am fascinated by healthcare and I want my work to make an impact.
If I raise for an oncology company, and they cure cancer, didn't I in a way help cure cancer?"
"I love tech. It connects the whole planet and pushes society forward.
We're getting autonomous cars on the road, and spaceships into orbit.
I get a front seat to that as a banker. Who wouldn't kill for a seat at this table?"
Get to your WHY.
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