Top Skills for a Head of Business Development at Compass Diversified
Katharine, a Managing Director/Head of Business Development, emphasizes the importance of strong "interpersonal skills," building relationships, and "analyzing businesses" using financial acumen and critical thinking to identify opportunities. A fast-paced environment necessitates "intellectual curiosity" to stay energized and adapt to new industries and trends.
Interpersonal Skills, Financial Analysis, Critical Thinking, Intellectual Curiosity, Business Development
Advizer Information
Name
Job Title
Company
Undergrad
Grad Programs
Majors
Industries
Job Functions
Traits
Katharine (Katie) Melzer
Managing Director/Head of Business Development
Compass Diversified
University of Michigan
UCLA Anderson School of Management - MBA
Business Management & Admin
Finance (Banking, Fintech, Investing)
Business Strategy
None Applicable
Video Highlights
1. Strong interpersonal skills are crucial for building relationships with clients and colleagues, requiring comfort in networking and articulating the company's vision.
2. A solid analytical foundation is essential, encompassing financial statement analysis (10-K, 10-Q, P&L, balance sheet, cash flow statement) and understanding industry trends.
3. Critical thinking skills are vital for assessing business opportunities, identifying potential improvements, and developing strategies for growth, alongside intellectual curiosity to stay updated on industry changes and maintain engagement in this fast-paced environment
Transcript
What skills are most important for a job like yours?
In business development, strong interpersonal skills are paramount. I need to represent my company articulately and build relationships with people, even those I've just met. This includes being comfortable approaching strangers and fostering connections.
Attending trade shows and conferences also requires this ability to build relationships from scratch. Therefore, interpersonal skills are very important.
A significant part of my job involves analyzing businesses, so I need a solid analytical foundation. This means understanding financial metrics and both macro and micro trends within specific industries, recognizing positive or negative headwinds.
I must also be able to read financial documentation, such as 10-Ks, 10-Qs, profit and loss statements, balance sheets, and cashflow statements. These are crucial for effective analysis.
Critical thinking is also essential. It allows me to examine a company's materials and determine if it's a good business. This involves looking beyond what's written to identify opportunities for improvement and growth.
Finally, in this fast-paced environment, intellectual curiosity is key. I need to be eager to learn about new industries, businesses, and trends daily. This curiosity will keep me energized in my role.