University Of Chicago, Boston, Selena discussed on M&A Science
Manager, that's a very viable path. It goes to the customers close to the product and save the deal also, so I would say be you and I'll just give a personal example. I actually took a job that had a job description that was two sentences and you know, I laugh at them because gosh, you know, that's that's crazy. But what I did end up doing is looking at the description and saying to myself, oh my gosh. This is a blank mandate. I can totally do this thing. I don't even know what the thing is, but I know I can do it. I have young children. I tell my kids and I tell my family members and young people just being you, you know, take a risk. There's never a right time to do the right thing. She just do what you need to do and take the opportunity and I think there are opportunities that are found in the market. I think there are rules that are available in the market that sometimes many people. Smith's because it wasn't written in the right way. It was positioned in the right away. So I would look for opportunities that are unique that give you a unique perspective because that's at the end is what I'm going to create the value differentiation and you so, you know you and your little different have a lot of fun because that's that's okay. I think it actually created for a very differentiated advantage in the market. What about sourcing if I wanted to get away from just asking my friends my circle and just internal thoughts are as another resource, but just out about looking around what resources would you recommend looking into? So I'm come from University of Chicago and back to have the Davis Center for leadership and strategy and they put on some interesting things. Like for instance. Once they have like a ballet dancer and they have the head of FBI in Chicago Bulls. About leadership and what it takes and one of the things I learned from that experience is that interesting people seek other interesting people and so I think having conversations and find venues where people are looking to find something different something intriguing and really selling that proposition. I think people get really excited by it. And I know I've been able to get some wonderful people through that those kinds of experiences and it really just bore out of you know, what do you do what's going on? You know, what's real is yeah, you know what, you know, what would you do on a Thursday, you know, so on and so forth. So those are the kinds of things I think that lead you to the conversations that gets you to an understanding of an individual and I think that's what you have to get to. Yeah. This is hard work right off totally agree with that. I think you need to also look in the unconventional places like Remus. We are not looking the conventional places red and the ability to spot Talent is that, you know, can this guy or gal? I identify Trends wage? They comfortable with uncertainty and ambiguity or tourists enough and they move as the deal requires, right and oh my gosh, so I have to I have to like interrupt you and just a second thoughts so important because this is Sookie deal individual is the case driver of the organization and not a lot of people understand that but Beauty on a point. That was a very bright in my head, but obviously didn't come out. But yeah, you're absolutely right you are the person has friends on or that's the number one race horse of the CEO and you have to drive that deal is nobody else is going to write everyone else is usual p&l. And yeah, I'm following a process and turning out twelve widgets a week always good. So yeah, totally agree. I get excited about that hundred people who do very well if you give them volumes of data to analyze they would powerfully job in two days. It's like so yep. Some job in two hours, right? And exactly that's yes right people like to talk about all we need this analysis. We need best data. We need that data and I'm like in ten minutes, you know, whether a deal makes sense or not, right? Because the way that you exactly structure it in the financial model would just the exact assumptions. It's probably not how it's going to come out at the end. The sausage is a little different at the end of the machine than what you put at the beginning it just that's inherent in the process. And then once you've done enough Selena deals with experience, you can say okay this type of deals. I need to judge just got Outta. Right channel doesn't work. Now you speak to the art of experience and I appreciate that the 305 forget either request for Marco if you share the hbr article that you referred to in the beginning. Yes. So this is managing yourself as human zoom out and buy Rosabeth Moss Kanter. This is in the March 2011 issue dead. And I love that article because it's like you have to be like two sided like one eyeball on what I need to accomplish this week this month now for the p&l and then the other eye has to be on my 17g. What am I learning towards? Where is this Marathon ending up working close to the hours. So last question I have for you guys is what's the craziest thing? You see that emanates hours. You gotta be wrong. Okay, so I was just telling this to kiss and and Rima the other day and individual plays also on this on this session and walk ins we were negotiating and a couple of years now and then we got into the negotiation the other party had brought in like very strong and hostage negotiators right season professionally trained hostage negotiators and integrators who capture all these bad guys have like integrated into the table and we would like dead. Dealing with here. Right but we went to the rigor of that was eye-opening and that deal didn't go through and then we had all kinds of repercussions thoughts on why this company was talking to those individuals and why they came at oh my god, let's point that territory because this was sort of everything about that was a little bit shady and I'm glad we got out and not got interrogated and weren't Acosta just weren't taking hostages interrogations of every day. How about you Reba? Oh my gosh. I wish we had more time in a couple hours in our hands or maybe a line or something. But this experience was in Boston and I say that way for a reason and that's all I'm going to say and it was a massage in Boston and it was a demolition business office and we had this pig and we put a lot of lipstick on this pig and you know, we meet several pitches and finally we got some people that you know took the bite so this guy comes in and he was laid first of all wage. Me nervous and like walking around peeking Through the Windows. When's he going to drive in once he driving how many people so I'm in the conference room and I'm looking out and I see this may balk black beautiful my gosh beautiful beautiful car. This man steps out. He is, you know balding and he's maybe like six foot seven and he's big he's huge and he's got a full length mink coat on and it's got jeans and boots and he's wearing pinky rings and he's with a guy and this guy and this is a middle of winter. This guy has on a wife beater and he's off jeans on and I'm like, what is this? And then there's two Escalades behind them would like to spin our Wheels going and I don't know. I'm just a little village girl from Lake Mary in society events see this. It was just unbelievable. It was pretty crazy. And then we sat through the whole reading where this guy kept saying you think you gotta do the deal on my okay? Our what money you gotta do the deal. It was it was one of them was difficult deals I've ever done in my life, but it closed and we sold the business and I'm glad it's my past but what an experience cuz I don't think I would have thought those individuals in my normal daily life in suburban Chicago land never happened. Yeah, right. I was like Wow mujhe video like no no no video the phones away like it was exciting the heart going a little but yeah, it was good though. They're called actually guys took anything in all the action used as time well, because covid-19 demedim a natural event that will be taken out of ebitda moving forward. So just you know, enjoy and do something fruitful. We will move Beyond this time compassion help your friends. There's a lot of people who need help and use the network to log. Exactly be good and be well, thank you. Great. Great guys, I appreciate it. Thanks so much. Thank you. Thanks so much for listening to this episode of m&a science. If you want to stay up-to-date on the podcast and all things m&a science, including our events. Make sure you sign up for our Weekly Newsletter packed Ami science.com m&a teams that use proven techniques deliver better outcomes agile. M&a is a science-based framework that focuses on a responsiveness adaptability and continuous improvements. You can view the whole book online for free at M A and if you're still using Excel trackers and old-school virtual data rooms that charge per page what a rip-off I highly recommend taking a look at deal room deal room is designed for collaboration with internal and external feeds off. Adeel room. To learn more you will also find lots of free resources templates ebooks guides. Thank you again for listening to emanate science. See you next time..