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    The point is that sales is a very valuable skill for being an entrepreneur. He was using hyperbole by saying a car salesman would be better than an IBD analyst. I wouldn't say it's necessarily better than IBD, but a salesperson in a bank will get:

    1. development of interpersonal and communication skills

    2. familiarity with a wide range of financial products and markets

    3. close relationships with institutional clients

    I don't see how those things are bad when trying to raise capital for a new business endeavor.
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    (Original post by Mikesev)
    As opposed to bankers?

    Most second hand car dealerships are independent companies or franchises and there are plenty of companies specialising in niche import cars. But anyway that wasn't my point, the point was being a decent salesman is probably more useful to a budding entrepreneur than working in finance and being a car salesman is obviously good sales experience.
    A car salesman approach to selling things isn't a universal solution to selling all things to all men. Use the same approach to sell top end cars that you use to sell Honda Civics and you may find you won't sell many cars, the approach is completely different. I'm not knocking your point, but it seems you are suggesting that selling second hand cars is good training to sell everything, which I don't particularly agree with.
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    (Original post by shady lane)
    No, I don't. But a potential investor might.
    Fair point. Though you can hire an ACA qualified person rather than be one.
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    (Original post by TOTB)
    By the way, mahras knows his stuff.

    Whether he can transfer all his knowledge into cash is another question though. I hope he does well.

    By the way, I know **** all about FX.
    If you know him at all, you should realise he has already translated his ability into cash.
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    (Original post by TOTB)
    Well if you want me to go into more detail, I achieved a 273% return over a 3-year time span
    Do it. Because what you said still isn't detailed.
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    Going to add one more thing here...

    ...while no particular job may lend itself to starting up your own business, actually being in another business - hopefully a successful one - will in its own right, help someone when doing their own business...

    'steal the ideas they like, bin the ones they don't, change the things that needed it'
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    (Original post by shady lane)
    The point is that sales is a very valuable skill for being an entrepreneur. He was using hyperbole by saying a car salesman would be better than an IBD analyst. I wouldn't say it's necessarily better than IBD, but a salesperson in a bank will get:

    1. development of interpersonal and communication skills

    2. familiarity with a wide range of financial products and markets

    3. close relationships with institutional clients

    I don't see how those things are bad when trying to raise capital for a new business endeavor.
    You can sum that up as licking you know what :P

    With IBD you get

    1) Performing valuations (LBOs, MBOs, etc.)
    2) Analyzing business/industry
    3) Analyzing cashflows, balance sheets, income statements
    4) Learning about the markets, how companies grow/die
    5) Attending client meetings, meeting corporate officials, CEOs, CFOs, etc.
    3) Coming up with innovating solutions for clients ranging from mergers, acquisitions, disposals, divestures, etc.
    4) Financial engineering cash flow optimizations. Learning ways to improve businesses in terms of altering relevant variables.
    5) Being part of something big, changing the landscape of the industry, country, continent you specialize in. Being part of something special/revolutionary.
    6) Transaction experience

    I could go on and on....IBD provides you with the "all rounder" set of skills. No doubt.
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    If you think that's what you listed above is what an analyst does, you've been smoking that good stuff.

    I never said IBD was worse. I said that sales provides a number of useful skills. And also that an 80 hour work week isn't going to give you much time to work on a side project.

    Why do you always feel you have something to prove when it comes to me? Seriously, if you're so confident in your regional IBD internship then just leave it at that. I wish you luck but you really need to stop trying to show off that somehow you're the top dog here.
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    (Original post by shady lane)
    If you think that's what you listed above is what an analyst does, you've been smoking that good stuff.

    I never said IBD was worse. I said that sales provides a number of useful skills. And also that an 80 hour work week isn't going to give you much time to work on a side project.

    Why do you always feel you have something to prove when it comes to me? Seriously, if you're so confident in your regional IBD internship then just leave it at that. I wish you luck but you really need to stop trying to show off that somehow you're the top dog here.
    I never did, You the one who started off ****ging IBD and 'pitch book stuff'. All I am doing is providing a balanced opinion. You should learn about what IBD analyst does as you seem to think its only about powerpoint. Im actually adding my thoughts on what IBD can bring to the plate.
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    You're an intern in a smaller office. Several of my closest friends are in IBD in London and New York, working full-time. Obviously I'm exaggerating a bit, but I can tell you that they all want out and absolutely have no time to spend thinking about being entrepreneurs. Like I said before, no analyst position in an IB seems to me a good place for a budding entrepreneur.

    Every time I post, you make personal comments about me being an ass licker or how I think I'm a "big shot" because I'm going into sales. I make general comments about IBD. You should learn what the difference is.
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    I'm actually going to agree with shady lane!!!

    Really. IBD in the big banks is a dreary existence where learning about business is not so easy. As an analyst.

    And still not that easy in the boutiques.

    1) Performing valuations (LBOs, MBOs, etc.)
    Rare. Verifying the fairness of another valuation - not very helpful.

    2) Analyzing business/industry
    You do this in almost everything.

    3) Analyzing cashflows, balance sheets, income statements
    Sourcing numbers is not analysis. It is not the job of an analyst to examine a balance sheet and see where the cheapest capital finance is going to come from.

    4) Learning about the markets, how companies grow/die
    Happens everywhere.

    5) Attending client meetings, meeting corporate officials, CEOs, CFOs, etc.
    As an analyst?

    3) Coming up with innovating solutions for clients ranging from mergers, acquisitions, disposals, divestures, etc.
    As an analyst? How innovative do you think you are?

    4) Financial engineering cash flow optimizations. Learning ways to improve businesses in terms of altering relevant variables.
    Knowing a formula and plugging is not the same. Nor when you start a business is this something that makes a business successful. You hire people for this kind of stuff, you focus on the actual business that is trying to make money. That is optimising a cashflow.

    The other two were meaningless.

    If you plan to build a career out of IBD first so giving a good 6 or 7 years - sure, you may well get out quite a lot. But it's a lot of years to gain what I think is a small amount. There are better ways to spend your time if you're endgame is to launch that business.

    edit to add: I left in your strange numbering system in my quotes.
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    I was reffering to the IBD experience as a platform to launch an entrepeneurial career afterwards. Not be an analyst and jump ship...

    We can sit and argue all day, but to shady, I apologise for the sales abuse. You know I dont really mean it...but your comments such as "powerpoint/excel all day" are not true when it comes to IBD. Its much more dynamic than that.
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    I was reffering to the IBD experience as a platform to launch an entrepeneurial career afterwards.
    You really think that IBD is the best platform? That being in it for about 6 or 7 years is the way to do it? That's a lot of time for a business idea to rot.
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    I think PM is being somewhat misunderstood. He isn't saying you should go into IBD if you have a business idea you are burning to start off, just so you can learn the mechanics of business, then come out and start it. By all means if you have one, go and do it and don't waste time with trying to do everything 'perfect' by getting training in IBD. What he is saying, and I think I agree with him, is that with 6/7 years of IBD experience you are going to be very well equipped to launch a business and sustain it, atleast maybe better than a sales analyst from markets.

    At the end of the day, IBD people also have to originate business deals, and fight for them, in most cases they don't come out of thin air, just like sales people in the markets side, so saying you only learn sales skills on a sales desk in a bank is a bit narrowminded, IMO.
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    (Original post by President_Ben)
    You really think that IBD is the best platform? That being in it for about 6 or 7 years is the way to do it? That's a lot of time for a business idea to rot.
    If you read my posts, I never indicated its the best platform. I said its a good platform and provides a wealth of experience and skills for business.

    Sure, there are many ways to become an entrepeneur. But IBD is a good platform to learn about business
    And we all know the hours IBD analysts work, which can also provide you with the necessary 'skills' to pull all nighters before you head to the bank to get some money for your wicked soup mixer.
 
 
 
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