Below is an excerpt from an interview Private Equity Primer conducted with Dena Frith Moore, Chief Operating Officer and Chief Compliance Officer at CAP91 Partners and former investment banker and COO at Harris Williams. The full interview with Dena can be found here.

Private Equity Primer: What did you wish you knew earlier in your career?  How would learning this earlier have benefited you? 

Dena: “I wish I had understood more clearly the power of direct and thoughtful performance feedback, especially when given in close proximity to the event/effort. As a younger manager, I was not overly comfortable giving feedback—especially tough feedback. I could find any number of ways to excuse lackluster performance or to find myself too busy for the feedback meetings.

I failed to understand the value of offering positive feedback as a motivational tool, as well as leveling with people about their opportunities for further development early in their tenure. I see now that I could have helped people excel more quickly and/or course correct had I sat down with them sooner to provide my observations before racing on to the next deal.”

Private Equity Primer Reflections on Dena’s Comments

• Avoiding Staff is Not a Feedback Strategy: Too often, deal professionals simply avoid staffing individuals whose performance they find lacking without ever giving those individuals clear feedback or guidance. This is not a talent problem; this is a leadership problem.
• High-Performing Teams Operate Like Real Teams: Deal teams are referred to as “teams” for good reason. Consistently strong outcomes require a group to perform well together in pursuit of a common set of objectives. In sports, players receive frequent and direct feedback on their play from coaches and other teammates. Just as frequent and direct feedback works on the sports field, it also works in the deal trenches.
• Slow Down to Speed Up: Under tight deadlines and heavy workloads, providing timely feedback can feel impractical. But making time—even just a few minutes—helps team members adjust quickly and prevents small problematic issues from compounding across deals. A brief slowdown today often enables much faster, more efficient performance tomorrow.

We cover more of these topics in our course M&A Leadership Essentials.