How to prepare for the job after the offer?

CDD Private Equity
New answer on Jun 04, 2020
2 Answers
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Anonymous A asked on Apr 27, 2019

Hello,

I have been offered a full time position at a consulting firm specialised in private equity. I will therefore primarily work on commercial due diligence projects.

1. What will I need to expect from the job, and

2. do you have any suggestion on how to prepare for the job?

Thanks!

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Francesco
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replied on Apr 28, 2019
#1 Expert for Coaching Sessions (3.600+) | 1.300+ Reviews with 100% Recommendation Rate | Ex BCG | 8+ Years of Coaching

Hi Anonymous,

congratulations on your offer! In terms of the job expectations, you will mainly have to work on due diligence (usually 4-week period projects) to assess if an acquisition makes sense. This normally involves industry analysis (including analysis of market potential, competitors and customers), target analysis (business plan assessment) and synergies analysis (potential revenue/cost gains) to assess if the acquisition makes sense based on the goal of the PE (usually, an exit in a certain number of years for a certain multiple).

In terms of preparing in advance before you start, I would recommend working on technical, communication and stress management skills.

  • On the technical side, Excel will be the most important technical thing to master at the beginning, in particular for VLOOKUPs and Pivot tables; you could also review PowerPoint, which you will also use quite a lot.
    • At BCG we got learning courses we could use to improve on them, and you may receive the same for your target firm, but so far that you have already mastered the skills before joining (you can find several courses online for both), even better.
    • Tip for Excel: learn how to use as much as possible the keyword and relegate the touchpad to the minimum – this will skyrocket your productivity in the long term. Some computer programs such as KeyRocket provide tips to improve on this.
  • For what concerns communication, I would recommend the classic book on the topic: “How to Win Friends and Influence People” by Dale Carnegie.
  • For stress management, I would recommend two books:
    • The Miracle Morning” by Hal Elrod – great tips to start in the right way your day
    • The Magic of Thinking Big” by David Schwartz – a great sum up of some of the best tips be positive, productive and achieve more

Below you can also find a list of things that could be useful to practice during your first weeks:

  1. Take notes when your manager tells you something – this will help you to remember details and will show you care about them to the team.
  2. Always double check. The first impression is very important in consulting: if you show you are reliable from the beginning, you create a reputation of a reliable person. Double checks should be done on expectations for your job, your excel analysis, your slides – basically everything.
  3. Define priorities before starting any set of tasks. The majority of the results usually come from a subset of activities – this is true also for your tasks in consulting. You have to identify which they are and prioritize them – the application of the so-called 80-20 rule or Pareto Principle.
  4. Socialize with your colleagues and start to build a network. Consulting is a people business and you should build a good network both within and outside the company. A good start is key to develop good relationships long-term
  5. Organize your private life activities. You want to organize your calendar to leave some space for personal activities (sport/ friends/ family). This is not easy but can be managed if you organize well, and long-term will be critical to keep a balance between work and private life. Also, it is better to align with your manager/teammates from the beginning on your core needs, so that there are no surprises later on.
  6. Ask for feedback every two-three weeks – this will show you are proactive and willing to learn.
  7. Ask for help when you don't know what to do – better to let know you are in trouble with meeting a deadline then missing the deadline.
  8. Be social and respectful with the support staff – these people are great and influential as well in the company.

Hope this helps,

Francesco

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Anonymous replied on Jun 04, 2020

Dear A,

First of all, my congratulations to your MBB offer, I wish you best of luck in your career.

For candidates like you, who have already secured the offer with a leading consulting firm, I have designed my program "Get ready for the first 100 days " as well as long-term career planning. This program touches all the important aspects: the mindset, the skills, knowledge, networking and ,managing yourself as well, your bosses and clients - everything that is important in your successful career.

In fact, I'm sharing my knowledge of 6 years career experience in consulting, where I was able to land on the fast track promotion and to be promoted from consultant to a project manager just within 3 years, which is extremely fast.

Happy to share these insights with you, feel free to reach out directly to me.

Good luck,

André

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Francesco

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