Posts Tagged ‘learning’

Private Equity Skills

admin | Thursday, September 24th, 2009 | No Comments »

Private Equity Skills

What Skills Students Should Learn for Private Equity

Skills Private Equity Skills

I’ve been traveling for the last three weeks and during the flights I have been going through some white papers that I’d been meaning to read.  One particularly interesting paper is by a professor at Stetson University titled “Understanding the Skills Needed for Careers in Private Equity Investing.”  The research identifies a major disconnect between general finance education and that needed for investing in private equity.

Although many professionals receive a general business school education and work one or two years at an investment bank or other finance firm, it would be great if an MBA included a more focused study on private equity to prepare graduates for a very unique field.  There are signs of a shift toward educating students on private equity is the Tuck School of Business’s Center for Private Equity and Entrepreneurship as well as the University of North Carolina’s Kenan-Flagler Private Equity Fund which is largely run by students.  I hope that more research is done to show how students and business schools would benefit from a curriculum with a strong focus on private equity.

It’s crucial that students at least have a basic understanding of how to value companies, structure a deal, complete accurate due diligence, manage a portfolio and negotiate with investors and keep them satisfied.  The price for on-the-job training for a venture capitalist could be millions of dollars from your investors, so it’s important to have a curriculum that addresses specific skills necessary for working in private equity.  The skills that private equity professionals should have beyond the existing MBA and finance degree curriculum are:

  1. Being able to realistically value businesses in an illiquid start-up context 
  2. Contractually structuring the investment
  3. Maintaining an effective personal network to both ensure adequate deal flow, and also assist  portfolio companies in securing critical resources
  4. Possess the negotiating skills associated with both purchasing and selling an investment
  5. Be able to coordinating thorough and effective due diligence

If you have not developed these skills or your business school has not addressed these needs, the author prescribes ways to improve these crucial areas:

  1. Do not rely on the “general business requirements” to meet these skills.  
  2. Some of these skills are process skills, meaning that they are developed by practice – not merely through understanding the process.   
  3. Due diligence is on virtually no one’s curriculum.  There are great books available and free resources online to give you at least a surface knowledge of this area. 
  4. A course in private equity investing can be demonstrated to accomplish the purposes of the business capstone class, and might be offered in lieu of Strategic Management, for example.

To read the full white paper, see here.

See our private equity career guide for more information on what you need to succeed in private equity

Popular private equity articles:

  1. Private Equity Tracker Tool
  2. Alternative Investment Jobs
  3. Career Guide
  4. Service Provider Directory
  5. Private Equity Associate

Tags: private equity career, advice, skills, white paper, investments, skills needed, valuation, education, tuck school of business, due diligence, strategy, structuring, price, learning, education in private equity, buyouts

Public Relations for Education Establishments: Child Learning Centers

admin | Thursday, January 10th, 2008 | No Comments »

public relations for education establishments child learning centers Public Relations for Education Establishments: Child Learning Centers

Child learning centers are very important and they can supplement our school system and education system. Sometimes school districts and teachers unions get upset with Child learning centers, while other teachers often recommend them to help students whose parents want them to excel faster than the student is able in the regular classroom.
Child learning centers need to promote themselves and find unique ways to attract publicity and get into the news. When other people read about this they will want to bring their children to the child learning centers also and that creates word-of-mouth advertising and it makes kids smarter.
Smarter children means smarter adults and that is great for our society and civilization. But, public relations and community goodwill for Child learning centers is not in easy thing to market. Sometimes it takes a little extra besides just advertising and marketing to promote a child learning Center.
It is recommended that all child learning centers hire a publicist or a public relations company to help them stay in the news and promote community goodwill. Child Learning Centers should have open houses and also allow other nonprofit groups to use their facilities for things like silent auctions and this brings more people to tour the child learning center and perhaps learn more about it. Please be thinking on all of this in 2006.
“Lance Winslow” – Online Think Tank forum board. If you have innovative thoughts and unique perspectives, come think with Lance. Lance is an online writer in retirement.
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Tags: child, learning, center, education, public relations

The Learning Power of Public Relations

admin | Friday, October 19th, 2007 | No Comments »
the learning power of public relations The Learning Power of Public Relations Especially powerful when business, non-profit, public entity and association managers plan for and create the kind of external stakeholder behavior change that leads directly to achieving their managerial objectives. All the more so when they persuade those key outside folks to their way of thinking, then move them to take actions that allow their department, group, division or subsidiary to succeed.

What they will have done, of course, is apply public relations strategy to doing something positive about the behaviors of the very outside audiences that MOST affect their operations.

And the payoff from combining sound public relations strategy with effective communications tactics is achieving the bottom line – perception altered, behaviors modified, employer/client satisfied.

And now the hard part. What steps must managers take to apply this public relations approach to their operation? By employing public relations activity that creates first perception, then behavior change within that key outside audience.

You can do it if you accept the fact that the right PR really CAN alter individual perception and lead to those changed behaviors you need. Plus, that right PR comes with its own blueprint: people act on their own perception of the facts before them, which leads to predictable behaviors about which something can be done. When we create, change or reinforce that opinion by reaching, persuading and moving-to-desired-action the very people whose behaviors affect the organization the most, the public relations mission is usually accomplished.

Obviously, you will need a lot more than news releases, brochures, broadcast plugs and fun-filled special events to get a satisfactory return on your PR investment. Among the results business, non-profit, public entity and association managers can expect are renewed interest from your key external audiences, new proposals for strategic alliances and joint ventures; rebounds in showroom visits; membership applications on the rise; new community service and sponsorship opportunities; and even new thoughtleader and special event contacts.

As time passes, you will notice such customers making repeat purchases; prospects reappearing; stronger relationships with the educational, labor, financial and healthcare communities; improved relations with government agencies and legislative bodies, and perhaps even capital givers or specifying sources looking your way.

A caution here. Satisfy yourself that your PR people are really on board for the whole effort because you want your key outside audiences to really perceive your operations, products or services in a positive light. Reassure yourself that your PR staff accept the basic truth that perceptions almost always lead to behaviors that can help or hurt your unit.

And by all means, invest the time to review your public relations plan with your entire staff. Especially so with regard to how you will gather and monitor perceptions by questioning members of your most important outside audiences. Questions like these: how much do you know about our organization? How much do you know about our services or products and employees? Have you had prior contact with us and were you pleased with the how things went? Have you experienced problems with our people or procedures?

It’s our good fortune that our team members are also in the perception and behavior business and can pursue the same objective as the professional survey firms might were they to handle the perception monitoring phases of your program: identify untruths, false assumptions, unfounded rumors, inaccuracies, misconceptions and any other negative perception that might translate into hurtful behaviors.

Now it’s time to directly address the problems that appeared during your key audience perception monitoring. Probably, your new public relations goal will call for straightening out that dangerous misconception, or correcting that gross inaccuracy, or doing something about that awful rumor.

Let’s pause for a moment and ask ourselves how we plan to reach that PR goal? You have just three strategic choices when it comes to dealing with a perception or opinion challenge: create perception where there may be none, change the perception, or reinforce it. Unfortunately, selecting a bad strategy will taste like macadamia mousse on your gnocchi. So be certain the new
strategy fits well with your new public relations goal. For example, you don’t want to select “change” when the facts dictate a “reinforce” strategy.

Structuring your corrective message is especially crucial because persuading an audience to your way of thinking is the hardest kind of work. And never more so than when you’re looking for words that are compelling, persuasive, believable AND clear and factual. Hard work yes, but a must if you are to correct a perception by shifting opinion towards your point of view, leading to the desired behaviors. Review your message with your communications specialists for its impact and persuasiveness.

Being particularly careful to select the precise communications tactics most likely to reach your target audience, you will find literally dozens of them available to you. From speeches, facility tours, emails and brochures to consumer briefings, media interviews, newsletters, personal meetings and many others. Be certain that the tactics you pick are known to reach folks just like your audience members.

Another wrinkle to guard against is this. The very credibility of your message can depend on how you deliver it. So, until you’re certain as to its impact, try introducing it initially to smaller gatherings rather than using higher-profile communications such as news releases or talk show appearances. Before long, you’ll need to produce a progress report, which means it’s probably time for you and your PR folks to get back out in the field for a second perception monitoring session with members of your external audience. You can use the same questions used in the first benchmark session, but now you must stay alert for signs that your communications tactics have worked and that the negative perception is being altered in your direction.

I’m as impatient as the next person, so I suspect the same may be true of you. If things slow down, you can always accelerate matters with a broader selection of communications tactics AND increased frequencies.

Managerial public relations applied this way can be a beautiful thing to watch or, better yet, to happen to you. It also suggests that managers like yourself can take a giant step forward when you use public relations to do something positive about the behaviors of the very outside audiences that MOST affect your operation.

Please feel free to publish this article in your ezine, newsletter, offline publication or website. Only requirement: you must use the Robert A. Kelly byline and resource box.

Robert A. Kelly © 2006

Bob Kelly counsels and writes for business, non-profit, public entity and association managers about using the fundamental premise of public relations to achieve their operating objectives. He has authored 250 articles on the subject which are listed at EzineArticles.com, click Expert Author, click Robert A. Kelly. He has been DPR, Pepsi-Cola Co.; AGM-PR, Texaco Inc.; VP-PR, Olin Corp.; VP-PR, Newport News Shipbuilding & Drydock Co.; director of communications, U.S. Department of the Interior, and deputy assistant press secretary, The White House. He holds a bachelor of science degree from Columbia University, major in public relations.

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Tags: learning, power, public relations, communications, strategy


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