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You're struggling to resolve conflicts in Private Equity. What are the best ways to improve your skills?

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If you work in private equity, you know how challenging it can be to deal with conflicts among different stakeholders, such as investors, management teams, portfolio companies, and advisors. Conflicts can arise from divergent interests, expectations, values, personalities, or communication styles. How can you improve your skills to resolve conflicts effectively and foster a collaborative and productive environment? Here are some tips to help you.

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1 Identify the sources

The first step to resolving conflicts is to understand where they come from and what they are about. You need to identify the parties involved, their goals, motivations, perspectives, and emotions. You also need to analyze the context, the history, the power dynamics, and the potential consequences of the conflict. This will help you to clarify the issues, find common ground, and avoid assumptions or biases.

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Jon Kenfield

Family Business Adviser & Advisory Board Chair. Family Business Mediation & Best Practices, including: Family & Business Plans, Succession Plans, Conflict Resolution, Governance, Adviser Training.
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Step 1 should be to get yourself into,and ensure you remain in, a positive, problem-solving mindset. If you start a conflict resolution process in the wrong mind space you’ll misdirect yourself in the diagnostic phase. Rubbish in, rubbish out!

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2 Communicate clearly

The second step to resolving conflicts is to communicate clearly and respectfully with all the parties. You need to listen actively, empathize, acknowledge, and validate their feelings and concerns. You also need to express your own views, needs, and interests in a constructive and assertive way. You need to use open-ended questions, paraphrasing, summarizing, and feedback to ensure mutual understanding and avoid misunderstandings or misinterpretations.

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Jon Kenfield

Family Business Adviser & Advisory Board Chair. Family Business Mediation & Best Practices, including: Family & Business Plans, Succession Plans, Conflict Resolution, Governance, Adviser Training.
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Start with a focus on empathy and connecting with other players. Move progressively towards asserting your own views and interests.

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3 Negotiate wisely

The third step to resolving conflicts is to negotiate wisely and creatively with all the parties. You need to explore options, alternatives, and trade-offs that can satisfy everyone's needs and interests. You also need to use objective criteria, such as market data, industry standards, or best practices, to support your arguments and proposals. You need to focus on the problem, not the person, and on the interests, not the positions. You need to seek win-win solutions that can create value and strengthen relationships.

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Jon Kenfield

Family Business Adviser & Advisory Board Chair. Family Business Mediation & Best Practices, including: Family & Business Plans, Succession Plans, Conflict Resolution, Governance, Adviser Training.
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Win-win as a concept is a complete furphy. It’s a comforting academic notion that ignores real world considerations. If something has been lost, damaged, or broken, it may be impossible to create a genuinely win-win outcome. Aim for “best possible outcomes under the circumstances” in all conflict situations - that attitude helps to creat a more realistic, problem-solving mindset and process.

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4 Manage emotions

The fourth step to resolving conflicts is to manage your own emotions and help others to do the same. You need to be aware of your triggers, reactions, and coping strategies. You also need to regulate your emotions, such as anger, frustration, or anxiety, by using techniques such as breathing, relaxation, or positive self-talk. You need to avoid emotional escalation, such as blaming, attacking, or withdrawing, and use emotional intelligence, such as empathy, compassion, or humor, to diffuse tension and build rapport.

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Nancy Fox - The Productized Service Fox

Product WYZE?? guides consulting & fractional exec firms to scale with recurring revenue & subscription productized services | Service As A Product System - playbooks, courses, subscriptions, customized networking plans
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The belief that Private Equity operates solely by the numbers and data is pretty well accepted. However, acquisitions of good companies that PE plans to make even better and increase their value takes the right strategies executed by the right people. People operate on emotions justified by logic. Imagine the emotions impacting the CEO who has, after decades, relinquished control to PE firm "owners" determining direction. Imagine the emotions experienced by the employees and execs who fear losing their jobs or working on new strategies with new bosses. PE leaders will benefit from leveraging their communication and leadership skills, opening doors to understanding & motivation of the people within the portfolio companies they acquired.

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steve davis

General Manager
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If they would manage people as well as they manage data they would add tremendous value to the company and reach their goals much faster

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Jon Kenfield

Family Business Adviser & Advisory Board Chair. Family Business Mediation & Best Practices, including: Family & Business Plans, Succession Plans, Conflict Resolution, Governance, Adviser Training.
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A very useful tool is psychometric assessment of participants (personality profiling) at the outset of the process. Experienced and competent negotiators do this well, naturally. Many inexperienced mediators try to impose their form of logic and values on others, without realising they’re doing it.

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5 Learn from experience

The fifth step to resolving conflicts is to learn from your experience and improve your skills. You need to reflect on the process, the outcome, and the feedback of the conflict resolution. You also need to identify what worked well, what didn't work well, and what you can do differently next time. You need to apply your learning to new situations, seek feedback from others, and practice your skills regularly. You need to embrace conflict as an opportunity for growth and development.

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Jon Kenfield

Family Business Adviser & Advisory Board Chair. Family Business Mediation & Best Practices, including: Family & Business Plans, Succession Plans, Conflict Resolution, Governance, Adviser Training.
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Agreed. Advisers, facilitators, and mediators need to be “agile” in their thoughts and actions. Regrettably, traditional professional training and corporate shaping tends to tramline adviser mindsets.

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6 Seek help when needed

The sixth step to resolving conflicts is to seek help when you need it. You need to recognize when a conflict is too complex, sensitive, or entrenched for you to handle alone. You also need to consult with experts, mentors, or peers who can offer you advice, guidance, or support. You need to consider using a third-party mediator, arbitrator, or facilitator who can help you and the other parties to reach a mutually acceptable resolution. You need to be open to different perspectives, approaches, and resources that can help you to resolve conflicts effectively.

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7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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You're struggling to resolve conflicts in Private Equity. What are the best ways to improve your skills?

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1 Identify the sources

2 Communicate clearly

3 Negotiate wisely

4 Manage emotions

5 Learn from experience

6 Seek help when needed

7 Here’s what else to consider

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