I’m running fast reps for superday and keep getting conflicting feedback. For a 10‑minute LBO, I’m currently thinking: quick scope (ask, constraints), articulate value creation levers, build a lean math spine (purchase, sources/uses, leverage, exit), then sensitivities and risks, with a tight recap. For accretion/dilution, I anchor on structure/assumptions, pro forma adjustments, dilution math, and drivers. The issue: some ex‑bankers tell me I overbuild; others say my logic is too airy. If you’ve actually grilled candidates, where do you want me to spend minutes 2–4 vs 6–8? Also, do you prefer me narrating while sketching numbers, or pausing to do math, then explaining? What timing/rubric would you use to sharpen this so it feels real under pressure?
10 minutes isn’t a model, it’s a competence check. stop trying to be a spreadsheet with a mouth. 60–90 sec to scope constraints, then hammer the 3 levers: entry, leverage, exit. give me a sanity‑checked IRR path and 1–2 risks with mitigants. for a/d, explain drivers before arithmetic. narrate the logic, not the long division. if you’re still fiddling with share count at minute 8, you’ve lost the room. less math theater, more judgment.
the minute you say “i’ll build a full debt schedule,” i already know you practiced the wrong thing. do back‑of‑napkin: purchase, sources/uses, rough FCF, exit math. show how a 0.5x turn or 1x turn changes IRR; same for a/d with deal mix and synergies. breathe, speak, then compute. oh, and stop asking permission every 30 seconds—own the room. if i need details, i’ll drag you there. otherwise, move on.
i tried a 1–3–4–2 split on lbo (scope, levers, math, recap). got fewer interruptions and cleaner follow ups. narrate logic first, math second. felt way less robotic.
for a/d, i lead with what swings it: mix, premium, synergies, amort. then quick math. i time a hard 90‑sec recap. helped me stop rambling lol.
what do you say when they push for a debt schedule? i usually say “high level coverage works?” and keep going. is that ok or dumb?
This is a strong plan! Keep your structure tight, lead with logic, and let the math support you. Practice the recap until it sings. You’ve got this.
I bombed my first superday by trying to “build” an LBO out loud. Second time, I treated it like a client pitch. I scoped in under a minute, stated two levers I’d pressure‑test, did quick math on entry/leverage/exit, then showed how a 1x EBITDA move shifted IRR. The VP cut me off twice, and I just anchored back to the framework. For A/D, I called the verdict early, then proved it. That flipped the convo from “show me math” to “defend your view.” Way easier.
Aim for decision-first structure. For a 10-minute LBO, many interviewers probe 2–3 layers deep, not full builds. Try a 1/3/4/2 cadence: 1 min scope, 3 min levers/assumptions (entry, leverage, margin/FCF, exit), 4 min math spine (purchase, sources/uses, rough FCF, exit valuation to IRR), 2 min sensitivities/risks/recommendation. A/D: lead with drivers (mix, premium, synergies, amortization, financing), then compute and decide. Speak while framing; pause briefly to calculate; resume with a verdict and a sensitivity (e.g., ±100 bps cost of debt or ±25% synergy realization). This signals judgment and time discipline.