Tracy Cote

Always prioritize maintaining relationships when resolving any differences in business strategy with your PE owners and operators. Much like the VC world, the PE industry thrives on networks and long-term partnerships, so handling disputes professionally and courteously is key. In my experience, I've seen the most successful leaders develop a rapport with their board members. You will build strong, collaborative connections by navigating these relationships with trust and transparency while avoiding politics as much as possible. We all share the same goal: growing a profitable, high-performing business. Focusing on the relationship rather than just whatever the immediate issue is paves the way for future collaboration and mutual success.

Any brewing conflicts with your PE owners and operating partners can often be resolved effectively by involving a neutral third party, such as an industry expert. These individuals provide an objective perspective, facilitate open communication, and offer solutions and ideas based on their expertise. To bring in a third party, suggest early engagement, collaborate with your PE firm on selection criteria, and consider recommendations from the firm. Define the expert's scope, conduct joint interviews, and establish a defined outcome and timeline for the project. This proactive approach ensures alignment, fosters trust and drives efficient conflict resolution, ultimately enhancing business outcomes and performance.

To effectively influence your PE owners and operating partners to align with your perspective, it's crucial to emphasize the collaborative nature of the conversation. Present yourself as a thought partner, not an adversary, and begin by presenting data-driven observations that highlight the current state of the business. Support your viewpoint with concrete evidence and projections. Develop a compelling business case that clearly articulates your proposed strategy's benefits and potential ROI. Ensure you understand their investment thesis and how your ideas align with or enhance these objectives. This approach fosters a sense of partnership, builds trust, and makes it more likely that you will end up with the best business outcome.

In talent acquisition, subtlety often outperforms force. Building strong relationships within an organization goes beyond networking—it's about fostering trust and respect. When stakeholders trust you, they're more likely to heed your recommendations on potential hires. Listen actively to decision-makers, understand their priorities, and show how your talent suggestions align with the company's broader goals to build credibility. This approach can transform passive listeners into active supporters. Additionally, solid relationships can create a coalition of allies supporting your hiring recommendations, amplifying your influence across the organization, and ensuring your insights and contributions are valued and impactful.

Surveys are one way to understand the source of a disengaged workforce, but they tend to be too high level to be helpful. Instead, use your survey results as a launching point to drive meaningful conversations with your people. You'll get so much more context, depth and insight from this approach, also known as "stay interviews." Sure, it's a little time-consuming, but a disengaged workforce is less productive, and this lack of focus and productivity hurts your bottom line. Don't think of a listening exercise as fluff; think of it as a business imperative that will help your company improve.

Getting ready for a performance review can be stressful, but it doesn't need to be. First off, keep the vibe positive – avoid becoming defensive, even if the feedback stings or is just wrong. Treat it like a growth opportunity, not a judgment day. Embrace feedback as a gift, even if it's not exactly on your wishlist. Note down everything – this is part of your adjusted game plan for success. Be sure to reflect on your own performance beforehand; it helps sync your views with what's coming. Come with a few questions too – make it a conversation, not a monologue. This isn't just about receiving, but also discussing your goals. It's your career – steer it in the right direction!