QAD Behavioral 2 Flashcards
Tell us about a situation where you failed to communicate appropriately.
Last year, I was managing the sale of a large ecommerce business, and after several rounds of negotiation, we reached an agreement on deal structure. During the due diligence period, the buyer and seller had a disagreement about a minor aspect of transaction.
This minor disagreement devolved into a massive fight in which personal insults were exchanged. This fight caused irreparable damage and resulted in the deal completely falling apart.
In the end, I was able to find another buyer. If we had just communicated with both parties during the first few bumps in the road, we could have saved the deal. Now, I am vigilant and I never let an uncomfortable conversation keep me from addressing minor issues during the process.
Give an example of a time when you had to complete multiple different projects to a short deadline.
At BBSI, October was always a very busy time for the Financial Ops team.
We had to complete the tops-down and bottoms-up 1 & 3 year forecasts for the individuals branches and company, and we had to prepare presentations and accompanying data for the Q3 earnings call.
When I have multiple projects to complete or am on a time crunch, I avoid stress by mapping out all the tasks that need to be completed and estimating how much time I will need to complete said task. Because I completed both Masters programs while working full-time, I have a good idea of how long I will need to complete a task.
I then structure my day in a manner that allows me to utilize my time efficiently. This helps me avoid stress and be productive without burnout.
In this particular instance, I had to work long hours and weekends, but I am willing to do whatever is necessary to make sure the job is done right and in a timely manner.
What would previous coworkers and managers say about you?
In my last performance review, my direct supervisor described me as someone who was able to understand highly complex financial and business issues and synthesize information into key points
He also valued my work ethic, professionalism, calm/steady demeanor, and willingness to help others in order to get the job done.
What motivates you in life?
I’m really driven by results — I like it when I have a concrete goal to meet, and the freedom to figure out a strong strategy for accomplishing it. I tend to set high standards for myself and work diligently to meet them.
Learning new things has always been a great motivator for me. In every job I’ve had, I believe I’ve always been able to learn something new, add a new skill, or discover a new way to look at a problem.
Of course money and bonus potential is a great motivator as well.
How do you deal with stress?
I am a pretty even-keeled person, I never get too high or low and I have been called a robot on numerous occasions.
When I have multiple projects to complete or am on a time crunch, I avoid stress by mapping out all the tasks that need to be completed and estimating how much time I will need to complete said task. Because I completed both Masters programs while working full-time, I have a good idea of how long I will need to complete a task.
I then structure my day in a manner that allows me to utilize my time with efficiency. This helps me avoid stress and be productive without burnout.
Have you ever had to change your working style to deal with a difficult team member?
I’ve worked alone and with a team and, in my experience, they each offer advantages. I think I work best in situations in which I can collaborate on some tasks and work alone for others.
At BBSI, I was working on a cross-functional team to navigate a pipeline model I built to Microsoft Power BI. Two team members wanted to work 100% in silos. I was fine with this but we needed to collaborate on some final task and make sure every essential task was being completed.
We compromised by setting up a shared check list on Google Docs, so everyone could see the teams progress and no tasks were being duplicated.
Describe a crisis of motivation you faced. How did you overcome it?
When it comes to my job, I am primarily motivated by compensation, professional development, and the opportunity to learn new skills.
During my time at BBSI, I was promised a raise on several occasions but the COO denied approval because he said BBSI only gave raises in conjunction with a promotion.
This was disheartening because that policy wasn’t written anywhere and the Director of Finance expressly said I deserved it.
Instead of letting this impact my work, I remained professional and identified professional development opportunities to keep me motivated.
Eventually I was given both the raise and a promotion.
Describe a time in which members of your team did not get along.
At Dragonflip, I had a co-worker that I was not particularly fond of. However, she was knowledgeable and good at her job. I focused on what she was good at and actually worked with her on a few projects. While we were never friends, we did work well together.
Do you have experience coordinating M&A processes?
Yes, at Flippa, Dealflow, and now Dragonflip one of my primary responsibilities has been to manage and coordinate the M&A process. Most of these teams were fairly small, so I had to wear a number of hats.
I have managed every stage - from deal sourcing and creating marketing materials to coordinating LOIs and overseeing the due diligence process. This includes working with lawyers, accountants, and decision makers to establish a deal timeline and ensure that we meet our expected deadlines.
Do you have experience with public speaking?
Yes. As the Head of M&A at Dragonflip, one of my primary responsibilities is to grow our presence in the US/UK market and demonstrate our expertise in the field. So I give presentations and participate in panel discussions at trade shows and industry conferences. I also appear on webinars and podcasts.
At BBSI, I was responsible for giving a monthly presentation of the financial/operations result to the COO, CFO and Director of Finance.
Can you describe a situation when you used your problem-solving skills to resolve a conflict?
During a recent transaction, a buyer discovered a fairly large financial discrepancy during due diligence. I knew from experience that if this was not handled correctly, it could result in the deal falling apart.
Communication was of utmost importance, because I wanted to maintain the trust between the buyer and the seller. Spoke to the owner to get an understanding of how it happened (accounting mistake that he didnt know about). I then spoke to the buyer to see how he was feeling and get an understanding of what concerned him the most (increase the risk profile of the transaction significantly).
Given that it was the owner’s mistake, I proposed a new deal structure that would make more of the compensation contingent on the businesses future performance. This limited the risk from the buyer’s perspective (less cash required) while still allowing the owner to get the appropriate compensation if the business performed.
What’s your experience in researching and sourcing new deal flow opportunities?
At Flippa, Dealflow, and now Dragonflip part of my responsibility has been to source new deal opportunities. I have experience with a variety of techniques. Earlier in my career I conducted a lot of market and internet research to identify potential targets and setup introductory calls.
As Head of M&A, I have attended and presented at trade shows and industry conference to demonstrate expertise in the field and source opportunities via networking with potential clients.
I have also worked with our partnership and marketing team to develop strong relationships with referral partners (service providers in the Amazon space, financials advisors) so they will send us new deal opportunities as well.
Tell us about your experience in due diligence.
In my time in this industry, I have been responsible for a variety of tasks during the due diligence process. As an analyst, I was responsible for performing financial analysis on the business, identifying any problem areas, and presenting my findings to the team lead. As my career has progressed, my responsibilities have increased as well. Now, Im not in the minuate as much.
I manage and coordinate the entire due diligence process. This includes creating a timeline (with deadlines) so all parties have the same expectations, working with lawyers, accountants, and other stakeholders to make sure we get all the requisite information. Reviewing any material findings and anticipating potential issues (so there is a plan to address them). Basically, stewarding the process to a successful end.
What’s an effective strategy that you’ve used to motivate others?
Tailor the motivation to the team member if possible
Bonus incentive
Identify ways to empower and help them grow their skills. That is something I always loved earlier in my career
