I always enjoy sharing learnings from my consulting practice – whether for my clients or others out there who could benefit from the experiences I come across on a daily basis.
I am currently recruiting for a highly specialized business development role for a private equity firm. While some of the skills and expertise are transferable, having actual knowledge in investing, private equity and in developing business for an investment firm like this are not.
One of the hardest things to do by far is craft a good cover letter. I’m not sure if this candidate was serious or not, but here’s what she wrote (the bold text reflects my comments):
As an admirer of the outstanding work your organization has done (like what? Be specific!), I would particular (do you mean ‘particularly’? There goes attention to detail) enjoy having the opportunity for an interview to learn in more detail how you function from the inside. As indicated on your job posting, your company needs an individual with a specific set of skills (such as????). Skills I specifically wrote ‘the book’ on and with an interview will blow you away. (really? You ‘wrote the book’ on the skills which, by the way, are what? And you are going to ‘blow me away’? Really? Is this a business professional or a schoolyard boast?)
I’ve leveraged my skills in long-range strategic planning to create over a billion (over a billion what? Dollars?) in new development from saturated markets. I’ve recreated product transformation while developing new marketing vehicles and sales processes for turnaround profitability in several industries. I’ve written two publications, cut marketing and R&D budgets in both dental software and franchising for department teams.
My background of experience is complemented by a MBA degree with 15 years of board-based clinical knowledge, 10 years of franchise knowledge and 20 years regulatory expertise across multiple regions.
So, here’s the learning:
1. When preparing a cover letter, it should be a ‘stand-alone document’. This means that, if I know nothing about you (if I lose your resume for instance), I should still know enough about you and how you qualify for the role that I want to meet you.
2. Proof, proof, proof and re-proof….then get someone else to proof it. Having typos in your cover letter or your resume shows a lack of detail and care. If this is the best you can do and it’s mediocre, what will your work product be like?
3. Don’t say you admire what a company has done without proving that you actually know what they do or why you are so enamored with them. Be specific. Cite examples. Impress me with what you know about the company.
4. Don’t say that you have all the skills without highlighting the most important skills required and how you have demonstrated those skills. This candidate didn’t even bother reiterating what those skills were.
5. Praises like ‘blow you away’ are best saved for grade school – this is not professional language – especially for a private equity or investment shop.
And, last but not least, have at least some of the qualifications of the role for which you are applying. Don’t just apply to roles you see that look interesting. Read the posting. Review your background and experience and ensure you really are qualified for the role. You don’t need to have 100% of the competencies in order to apply but you should have most of them. And if you don’t have them all, tell the recruiter how you are right for the role and why we should see you. Highlighting all of your experience if it’s not relevant to this role is a waste of your time (and ours!) and why so many candidates hear nothing back.
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