I think all business leaders should encourage employees to take actions that delight their customers. "That was the last capital infusion the company needed before it became profitable," Papas said. To ensure that as a PE firm, we pierce through those stages and create outstanding results for all stakeholders, our winning strategy is founded on three main pillars; acting as businesspeople first, applying a hands-on approach to each portfolio company, and developing very close relationships with the various stakeholders. Several international investors have committed to the fund such as the EIB, the IFC, the DEG, the EDF, the Proparco, and the CDC. Some of the best opportunities today are in specialist private equity funds that stretch the boundaries of the asset class. Even if you can listen to a single one of these tips, it can have a major positive influence on your career. We aim to delight our customers by measuring our net promoter score (NPS) [a number that gauges how enthusiastically a current customer will recommend the company to others].". These stories are particularly valuable when they help illustrate an important principle that can help all aspiring entrepreneurs to boost their odds for startup success. Once the fund’s management team decides which companies it will invest in, its main focus is then to almost-immediately start “adding value” to its investments. The second time was October 2002. Doing this is critical to Bullhorn's success. Should you be working with an executive search firm. That's why Bullhorn partners with private equity firms. The first time was in December 2000 when the company's senior leaders stopped taking salary and Bullhorn could not make payroll for its 15 employees. It raised money from GE Asset Management and Internet.com with "90 minutes left to make our payroll deadline.".

Not only does it allow the firm to better identify attractive investment opportunities and scalable business models with high growth potential during the “sourcing” and investing stage, a businessman mentality also empowers the management team to develop sound strategies, optimize operations and strengthen corporate governance in order to achieve optimal growth in the fund’s portfolio companies during the “managing” stage. In a September 17 interview, Papas shared with me his insights on how to lead a successful venture to ever-higher levels of growth. The more value that you have for your firm, the better. Doing this will dramatically increase your odds of success. Private equity can be a better way for cash generating startups to finance ongoing growth. Amid the various economic challenges facing the world today, private equity (PE) firms who fail to adopt an integrated strategy for their investments and a more hands-on approach in their portfolio companies will not only have difficulty in increasing shareholder value, but risk losing investors’ confidence as well, in addition to having a hard time differentiating themselves from the competition. By 2012, the company sported $40 million in revenue when he sold it to a private equity firm for well over $100 million. So, remember to always be kind and to treat all co-workers or potential co-workers with respect and dignity. Shutterstock.com.

Papas started Bullhorn in 1999. You're reading Entrepreneur Middle East, an international franchise of Entrepreneur Media. In this article, we will provide some excellent tips for succeeding in private equity. During the Funds’ lifespan, EuroMena played an instrumental role in the outstanding growth of the SMEs it invested in, turning them into the region’s most prominent companies today. It closed an acquisition of a small company which had venture capital on October 11, 2002 three hours before Papas's wedding rehearsal dinner. Then he failed to turn Bullhorn into a provider of software for procuring creative services.

Based on that interview and previous ones, here are his four insights for startup success. Also, many PE firms will have an informal social interview where they invite a candidate to dinner in order to see if his or her personality will be a fit. In order to spur a company's growth, a leader must set corporate goals and encourage each leadership team member to set goals for their area and hold themselves accountable for achieving them. If you want to succeed in private equity, then it is very wise to master a particular niche. Wearing a “businessperson hat” might very well be the first key to PE success. Do not underestimate the power of a good social reputation. With these success stories behind us, we are now looking forward to assisting new companies to come out of this region- and we are confident our strategy with regard to PE will help enable it as well.
Some of EuroMena’s successes include turning ITWorx, an IT solution provider, from a local Egyptian enterprise to a global business serving North American, European, GCC and African clients, and supporting Sodamco’s (the Lebanese market leader in chemical construction material) growth plans in the region leading to a successful divestment to Saint Gobain France (the global leader in the same industry), as well as helping expand Chedid Re SAL -a Chedid Capital Holding company- (Chedid Re is today considered one of the top 20 reinsurance brokers in the world) into new markets such as GCC, Eastern Africa, Europe and UK. Papas started Bullhorn in 1999 but it took until 2008 for him to figure out what Bullhorn was good at. However, this must also be augmented with an intimate knowledge of the local markets and national economies in which the firm invests, which is why the EuroMena Fund management team consists of members who have been working in the region since 2005, while the Fund’s advisory committee is constituted of prominent business people and industry professionals. Oftentimes, PE firms invest in companies outside the United States. To spur the trust on which this depends, it's important for me to admit my mistakes and make sure I don't repeat them. As he explained in an October 5 interview, Bullhorn nearly ran out of cash twice. Getting results depends heavily on trust. It could even have a positive impact on certain deals. In the Middle East and Africa (MEA) region, the global financial crisis and the more recent decline in oil prices have reshaped the region with different economies and dynamics, and while a traditional approach to PE cannot overcome current and future barriers to business growth, firms that focus on holistic value-creation will continue to thrive and generate healthy returns for their funds. We recognize employees for doing the right thing," he said. The fund’s investments cover the following sectors: retail and consumer products, food and beverages, agriculture, education, energy, financial services and insurance, healthcare and pharmaceutical, cosmetics, and information technology.

If you have a good reputation, that can help you sell to other companies. Bullhorn's training and reward programs reinforce employee conduct that boosts its NPS.

No matter how talented you are, you still need to always be friendly, respectful, and polite. As Papas said, "In the staffing business, everyone knows everyone else. One such entrepreneur contacted me last month to tell me about how he just met a goal he told me about the last time we spoke in 2017. Being able to create financial models and to analyze business opportunities quickly, accurately, and efficiently, is something that is valued highly by nearly every PE firm in the industry. This crucial part of our three-pillar investment strategy maximizes potential growth achieved during the “managing” stage, and helps take the fund’s portfolio companies from “strong local players” status to Regional Leading Groups (RLGs), poising them for a profitable exit during the final stage. Six Ways In Which Private Equity Can Catalyze The Growth Of Your Business, The How-To: Building Fruitful Relationships Between Entrepreneurs And Private Equity Firms, How the New Tax Law Affects Private Equity and VC Firms, Why Family-Business Entrepreneurs Should Embrace Private Equity Funding, The Do's and Don'ts of Private Equity for Entrepreneurs. On a company level, EuroMena introduced governance and business best practices as well as encouraged the implementation of environmental and social standards putting these companies on the path of growth and continuous improvement. So, the better that you are at doing these things, the more likely that you will be to enjoy a long and successful career in Private Equity. This Fund’s first closing took place in October 2014 for a consideration of $100 million, preceding a subsequent closing that took place in June 2016 with an overall target size of $150 million. A CEO must be both strategic and tactical since the average size of the … By solving that business problem, Bullhorn put itself onto a path to success. As Papas said, "We value taking ownership and managing expectations. Two pure-play consumer specialists are swimming against the tide to climb up the PEI 300. Being bilingual can make you significantly more valuable and can be highly beneficial for your career. On a social level, EuroMena facilitated access to capital for companies in emerging markets, helping create new jobs and participating in the sustainable development of the countries and region as a whole. Papas met the CEO of a recruiting firm who hired the company to build a database to keep track of his operations over the Internet.

Through this tightly integrated investment strategy, The EuroMena Funds have successfully raised more than US$350 million (EuroMena I, II and III) from public/quasi- public European Development Finance Institutions (DFIs) such as the European Investment Bank (EIB), the International Finance Corporation (IFC), The German Investment and Development Corporation (DEG), the UK’s Development Finance Institution (CDC Group) and the French Development Finance Institution (Proparco). In doing so, The EuroMena Funds have been able to form a solid platform to power their "sourcing" and "investing" stage, by eyeing the region’s highest growth industries and sectors, as well as better evaluating target companies’ market presence, corporate governance, and their existing growth strategies. At The EuroMena Funds, and through our three generations of PE funds in the region, we have thoroughly developed a unique investment strategy built on a solid structural foundation that has powered one successful closing after another, and culminated in profitable exits that generated more than two times the money on invested capital. I understand that the data I am submitting will be used to provide me with the above-described products and/or services and communications in connection therewith. Bullhorn was about to miss payroll without a capital infusion. I first interviewed Papas in 2013 when he explained to me how he started Bullhorn and turned it around months before it was poised to run out of cash. Here’s a subtle sign of the times.

Then, when you go to find a job, you should look for a PE firm that also specializes in that niche. If you are serious about having a long and rewarding career in the field of private equity, then make sure that you consider the tips in this article.

This is because many PE firms will not hire someone who they think will not fit in with the group and who team members will not get along with. Bullhorn -- which is approaching $300 million in revenue and aims for over $400 million by 2025 -- was not always so successful. Private equity firms focused on the consumer sector have had a challenging time over the years with innovation and technology disrupting the market as well as the well-publicised difficulties of the retail and casual dining sub-segments.


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