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The CrossFit Model for Private Equity Success: Three Key Exercises for Executives to Win More Salary, Bonuses, and EQUITY

Written By: Gerald O’Dwyer IIThe PE Guru — Blackmore Partners, Inc | December 4th, 2024

In CrossFit, consistent effort in foundational exercises builds strength and stamina. In the private equity (PE) world, success demands a similar commitment to foundational activities. Executives who want to thrive in PE—whether aiming for C-level roles, board seats, or meaningful equity—must focus on three essential exercises:

  1. Building PE Relationships
  2. Conversing with Owners
  3. Engaging with Future Customers

For those who leverage programs like BlackmoreConnects, these exercises become even more impactful. By adding BlackmoreConnects’ strategic framework to the mix, executives can accelerate their PE journey, securing not only higher salaries and bonuses but also the coveted equity that creates real wealth.

Below, we’ll explore these exercises, why they matter, and how the BlackmoreConnects Program can multiply their benefits.

1. Building PE Relationships (200 Conversations per Year)

Why This Matters

PE firms control the capital and opportunities in the private equity world. Building 200 quality PE relationships per year ensures visibility, credibility, and opportunity. Programs like BlackmoreConnects provide the tools, connections, and structure to make this goal achievable.

25 Reasons to Build PE Relationships

  1. Gain access to unadvertised opportunities.
  2. Understand fund strategies and priorities.
  3. Position yourself for operating partner or advisory roles.
  4. Establish yourself as a thought leader in your sector.
  5. Build a reputation as a problem-solver.
  6. Gain insights into market trends.
  7. Understand PE firms’ success metrics.
  8. Build credibility for partnerships.
  9. Learn about upcoming deals before the market.
  10. Network with PE analysts and associates.
  11. Position yourself as a solution for portfolio challenges.
  12. Access mentorship from experienced PE leaders.
  13. Discover niche roll-up opportunities.
  14. Learn fund acquisition criteria.
  15. Gain referrals from connected executives.
  16. Build confidence in PE-specific metrics (IRR, MOIC).
  17. Access invitations to exclusive PE events.
  18. Enhance negotiation leverage for compensation and equity.
  19. Establish long-term relationships for future opportunities.
  20. Gain insights into buy-and-build strategies.
  21. Understand cultural alignment for PE-backed companies.
  22. Be viewed as a strategic asset, not just a hire.
  23. Learn to navigate PE decision-making dynamics.
  24. Position yourself for co-investment opportunities.
  25. Gain a deeper understanding of exit-focused leadership.

25 Benefits of Building PE Relationships with BlackmoreConnects

  1. Access to BlackmoreConnects’ curated list of 200+ PE firms.
  2. Invitations to PE-focused networking conferences.
  3. Mentorship opportunities through Blackmore’s executive network.
  4. Insights into PE hiring processes and expectations.
  5. Real-time feedback on investment theses.
  6. Tools for targeting specific PE niches.
  7. Accelerated introductions to decision-makers.
  8. Greater exposure to portfolio companies in your wheelhouse.
  9. Opportunities to co-invest with PE firms.
  10. Deeper understanding of value creation strategies.
  11. Ability to benchmark compensation expectations.
  12. Strategic positioning for leadership roles.
  13. Tools for identifying and closing equity opportunities.
  14. Reduced time spent building initial connections.
  15. Personalized introductions to key decision-makers.
  16. Access to exclusive BlackmoreConnects workshops.
  17. Increased credibility with a vast network of executives.
  18. A structured, repeatable process for relationship-building.
  19. Insights into sector-specific M&A activity.
  20. Confidence to approach firms and owners directly.
  21. Support in crafting a compelling PE narrative.
  22. Practical tools to showcase your value proposition.
  23. Faster access to PE-backed board roles.
  24. Assistance in preparing for interviews with PE firms.
  25. Long-term career benefits through sustained mentorship.

2. Conversing with Owners

Why This Matters

Business owners are the heart of PE transactions. They offer insights into operational challenges, growth potential, and transition dynamics. By engaging owners in meaningful conversations, executives can identify opportunities, align with PE firms’ investment theses, and build trust as future leaders.

Programs like BlackmoreConnects give executives the confidence and tools to approach owners effectively.

25 Reasons to Know and Converse with Owners

  1. Understand their motivations for seeking PE capital.
  2. Identify operational challenges they face.
  3. Build trust as a potential leader.
  4. Learn their expectations post-transaction.
  5. Gain insight into customer relationships.
  6. Recognize risks and opportunities.
  7. Understand cultural dynamics of their teams.
  8. Gain firsthand knowledge of EBITDA drivers.
  9. Build rapport for a smoother transition.
  10. Discover growth opportunities.
  11. Recognize potential synergies for roll-ups.
  12. Understand succession planning priorities.
  13. Learn about supply chain vulnerabilities.
  14. Position yourself as a strategic partner.
  15. Build a credible leadership narrative.
  16. Recognize gaps in their market strategies.
  17. Understand their pain points in scaling.
  18. Gain clarity on pricing strategies.
  19. Identify untapped revenue streams.
  20. Align with PE firms’ buy-and-build strategies.
  21. Understand barriers to growth.
  22. Build empathy for family-run dynamics.
  23. Learn key metrics owners track.
  24. Identify potential areas for value creation.
  25. Build trust for future partnerships.

25 Benefits of Conversing with Owners through BlackmoreConnects

  1. Access to owners seeking PE partnerships.
  2. Tools for preparing for owner meetings.
  3. Insights into industries ripe for PE roll-ups.
  4. Confidence to approach and engage owners.
  5. Workshops on navigating family-run dynamics.
  6. Networking opportunities with owner-facing PE firms.
  7. Personalized advice on deal dynamics.
  8. Greater credibility in owner conversations.
  9. Assistance in aligning with PE investment theses.
  10. Mentorship on owner engagement strategies.
  11. Practical tools to identify owner pain points.
  12. Faster access to operational insights.
  13. A structured approach to owner outreach.
  14. Real-time feedback on owner engagement strategies.
  15. Opportunities to co-develop growth plans.
  16. Support in presenting yourself as a solution.
  17. Insights into succession planning discussions.
  18. Preparation for owner transition challenges.
  19. Greater empathy for owner perspectives.
  20. Access to niche market intelligence.
  21. Enhanced ability to align with PE goals.
  22. Increased trust from owners and PE firms.
  23. Faster path to operational leadership roles.
  24. Ability to close gaps in operational knowledge.
  25. Long-term relationships for future opportunities.

3. Engaging with Future Customers

Why This Matters

Customers are the ultimate drivers of revenue and profitability. By building relationships with potential customers, executives gain insights into unmet needs, market trends, and opportunities for differentiation. Engaging customers helps align business strategies with market demands, creating lasting value.

BlackmoreConnects equips executives to prioritize customer insights and incorporate them into their leadership plans.

25 Reasons to Connect with Future Customers

  1. Identify unmet needs in the market.
  2. Understand customer pain points.
  3. Gain insights into competitor strategies.
  4. Build trust with key accounts.
  5. Learn about pricing sensitivity.
  6. Understand ROI expectations.
  7. Develop a customer-centric growth strategy.
  8. Build relationships for early wins.
  9. Recognize cross-selling opportunities.
  10. Gain insights into market trends.
  11. Understand barriers to customer retention.
  12. Learn about geographic opportunities.
  13. Build rapport with procurement teams.
  14. Identify hidden growth opportunities.
  15. Enhance credibility as a future leader.
  16. Understand customer buying behavior.
  17. Gain insights into distribution challenges.
  18. Build trust as a solution-driven leader.
  19. Identify opportunities for innovation.
  20. Recognize cultural nuances in customer dynamics.
  21. Build narratives for marketing and sales teams.
  22. Align strategies with customer expectations.
  23. Build momentum for PE-backed growth.
  24. Strengthen customer retention strategies.
  25. Gain confidence in leading customer-facing initiatives.

25 Benefits of Customer Conversations through BlackmoreConnects

  1. Real-time insights into customer trends.
  2. Tools for engaging customers pre- and post-acquisition.
  3. Confidence to lead customer-centric initiatives.
  4. Greater trust from PE firms.
  5. Faster alignment with growth strategies.
  6. Enhanced ability to build cross-functional teams.
  7. Practical tools for navigating customer challenges.
  8. Early wins with key accounts.
  9. Stronger credibility in customer-facing roles.
  10. Access to market-specific workshops.
  11. Tools to craft customer engagement strategies.
  12. Mentorship on navigating customer dynamics.
  13. Deeper understanding of customer retention challenges.
  14. Insights into customer expectations for new leaders.
  15. Faster time to value in leadership roles.
  16. Greater ability to lead sales and marketing teams.
  17. Stronger insights into customer-driven value creation.
  18. Confidence to tackle competitive threats.
  19. Enhanced ability to grow revenue post-acquisition.
  20. Support in identifying innovative solutions.
  21. Greater alignment with PE value creation goals.
  22. Stronger personal brand as a customer-first leader.
  23. Opportunities for early feedback on strategies.
  24. Tools for engaging customers across industries.
  25. Long-term career benefits through customer-focused leadership.

The BlackmoreConnects Advantage: A Two-Year Journey to Equity

Like CrossFit, success in private equity requires discipline and consistent effort. BlackmoreConnects accelerates this process by providing the connections, tools, and mentorship executives need to succeed. Over two years, these exercises—combined with the BlackmoreConnects program—can transform your career.

Reference to Jim Fanning’s Journey

Jim Fanning’s story of resilience and action demonstrates the importance of embracing the process. Through steady effort, he built credibility and success. Similarly, BlackmoreConnects ensures that executives are supported at every step, making the journey to equity more achievable and rewarding.

By committing to these three exercises and leveraging the power of BlackmoreConnects, you can build a PE career that delivers real wealth and fulfillment.