What are the most important lessons to learn from failure in a Private Equity career?

Failing isn't fun, but it's a great teacher! One big lesson is to look at what went wrong, figure out why, and make sure it doesn't happen again. It's like if you messed up a school project, you'd want to understand why and not repeat the same errors. Let's say you missed a deal because you didn't do enough research. Instead of feeling down, take a closer look at how you do things, get better at researching, and ask for advice from experienced folks. By learning from slip-ups, you get better, people trust you more, and you avoid making the same blunders next time.

Failing has been a real teacher for me. It showed me the importance of bouncing back and handling changes. It's like when I fell off my bike but got right back up – that's what I call resilience. In my world of private equity, these qualities are like superpowers. They help me tackle problems and roll with the punches when things switch up. Take, for instance, a deal that didn't go through because the market did a 180. Instead of dwelling on what went wrong, it's about focusing on what's happening now and finding new paths forward – kind of like adjusting gears on that bike. Learning to bounce back and adapt has become my secret sauce for staying positive and confident, even when the going gets tough.

(a) In the pursuit of short-term gains, some investments may falter. Embrace a long-term perspective and don't rush decisions. Personal Example: A failed investment due to hasty decision-making encouraged me to adopt a more patient approach in subsequent deals (b) Transparency with stakeholders and clear communication can prevent misunderstandings and conflicts. A failed deal can be a result of misaligned expectations. Personal Example: After a failed partnership, I learned to prioritize transparent communication to align interests (c) Private Equity can be emotionally demanding. Failure can be emotionally draining, but it's essential to develop emotional resilience to stay focused and make rational decisions.

Be fast. Sometimes the corporate world can support taking your time. In PE we don’t have that. There is a clock and a return on investment mandate. Realize this, embrace it and be ready and willing to do whatever it takes. High pace, high communication. Solid measurement of key PE metrics i.e. covenants etc. My view….