en en en en en en en en en en en en en en en en id en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en it en en en en en en en en en en nl en en en en es en en tr en en en en en en en en en en sv en en en en en en en en en en en en en en en en en en en en en en en fa en en en en en en en en en en en en en en en en en en en en en en en en
A year ago, I completed an executive education course on the subject of Private Equity at Imperial College London.
It was genuinely one of the hardest academic experiences of my life – I barely got through it!
What’s happened in the year since? Here’s the original blog plus an update on how I’ve used what I learned.
I briefly turned off my camera on Zoom to hang my head and scream softly in frustration.
Why was I doing this to myself?
In May, I signed up for the Private Equity course at Imperial College London’s executive education program.  Spark Compliance’s facilitated training game software, Compliance Competitor, was growing so fast that I was (and am) considering venture capital to grow it. Spark Compliance had been hired by a private equity firm to review compliance at its portfolio companies, and several of our new clients were private equity-owned.
I had two objectives. First, I wanted to understand the words used by the private equity folks. In my experience, correctly using industry words makes people feel you understand them and are one of them. Second, I wanted to learn how people in the private equity firms think about deals.
Imperial College advertised the class as being for:
People already in private equity looking to expand their careers.
People in finance interested in transitioning to private equity firms.
Bingo!  Number three applies. I applied for admittance and was thrilled to be accepted. As I filled in the credit card form, I noticed that the sign-up page had a note that said, “this class will not focus heavily on valuations.  You do not need a finance degree to take this class.”
Well, that was good since I had a law degree and a film and television degree.
Decades since I took a math class
True confession: the only time I got a near-failing grade (D) in my entire academic career was in math the spring semester of my junior year of high school. I didn’t understand the concepts at all.
My undergraduate degree required two math/science classes.  I took microbiology and astronomy. I thought math was behind me for good.
Turns out that running a company requires a fair amount of math.  Usually the math is pretty simple – revenue minus expenses equals profit. I thought I’d be relatively prepared for the private equity class.  I was wrong.
Wanting to give up
The first week of the private equity class was pretty good.  We did a case study and I was able to contribute from a non-finance perspective.  People in the class didn’t consider sanctions issues or bribery concerns in the deal, so I felt good about having something to add.
By week three, the math descended.  I spent hours on Investopedia trying to understand the words being used because not understanding them meant I couldn’t start working on the equations.
By week six, I was burned out and frustrated.  I flirted with the idea of giving up.  This class was taking eight or more hours of my time per week.  That meant giving up significant chunks of time on weekends or working late into the night.  It was exhausting.
When it was darkest, I posted to my class’s WhatsApp group about my frustrations and feeling defeated.  A classmate sent back this message, “I’m actually learning so much from you Kristy.  This includes how you are responding to whiteboard questions.  You are helping me (from a non-finance background) to understand many of the concepts.  Don’t feel demotivated.  You are truly inspiring me to stay the course.”
Wait, I was making a difference?  Really?
I realized that my objectives were being met.  I was learning the words, even if I had to look them up six times.  I was learning how private equity firms think about deals.  I decided that even if I failed the course, which I was pretty sure I would, I had come here to learn and I was.  I chose to see it through.
Getting to the Finish Line
I finished the class in August and was elated when I learned I’d passed.  My certificate made me genuinely proud.
Am I ever going into private equity as a career?
But foraying into an area where I was deeply uncomfortable helped me to grow.  Meeting new people in a totally different field expanded my network – especially when you consider all of the contacts-of-contacts I now have access to.
I’m always advocating for us in the compliance field to keep learning and growing.  While at times it was painful, it was worth it. And, strangely enough, I can do the DCF and WACC calculations now.  My certificate proves it.
It’s been an exciting year.
I was approached twice by parties interested in opening discussions to buy Spark Compliance, one backed by private equity, the other by angel investors. Because of my private equity class, it was easier to evaluate the deals. This included the review of the proposed structures, timeframes, expectations, and, with the case of the private equity-backed buyer, the synergies in their portfolio of companies. (we aren’t selling)
Compliance Competitor (Spark’s innovation-award-winning online training game for high-risk employees) has caught fire. It even has its own dedicated salesperson – a first for Spark. We’ve been approached by investors and are continuing to consider whether we should take capital and whether that’s a good fit for us. Because of my class, I have a much stronger understanding of what that entails and what it will mean for the company.
More than anything else, I’ve become more confident in my businesses. My expanded knowledge of math, investment strategy, and business structures has made me a more competent businesswoman.
Would I do another private equity course?
A year ago, I’d have said absolutely not! But now, maybe. Never say never…
CEO of Spark Compliance Consulting
Kristy Grant-Hart is the founder and CEO of Spark Compliance.
She’s a renowned expert at transforming compliance departments into in-demand business assets.
Facebook Twitter Dribbble Behance
Kristy Grant-Hart is a compliance and ethics expert specializing in transforming compliance departments into in-demand business assets.
UK Phone: +44 (0)203 514 1443
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Do not sell my personal information.
This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
This cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.