Staying Positive After Rejection
About midway through my internship, I have realized that private equity firms encounter quite a bit of rejection, whether it’s a big or small firm. But I feel that many times the rejections is harder to take with a smaller company such as the one I am working with this summer.
As deal flow had started to increase further into my summer, so did the rejections; more companies saying “no” to a potential buyout and more CEOs scorning us for even thinking of acquiring their companies.
About the time we had started to consistently receive rejections, we held a team meeting. The key takeaway from my meeting is what I’ve heard many times before during my experience with sports-don’t give up. Sure, being rejected day in and day out was slightly discouraging but potentially finding a company to buy was very encouraging.
We filled certain days with financial modeling or brainstorming potential industries to look into. We would go out to Red Sox games or into Boston with all the interns. But I was constantly bettering myself whether it was speaking with associates or the partners about a model or hanging out with other interns.
We kept upbeat attitudes because the end reward would ultimately trump the annoying cold calls and hundreds of emails. It was great to see myself learn to stay positive throughout strenuous times.