Posts Tagged ‘value’

In The Eye of A Private Investor

Monday, June 5th, 2017

 

You are a C-suite executive or senior manager (probably with a successful career in a mid and large organisation) flirting with future advisory roles (Operating Partners, Senior Advisers and so forth) with private investors (Family Offices, Ultra High Net Worth individuals and some funds) and their portfolio companies. I meet half a dozen a month. Are you looking through your lens or that of the investor’s? When I ask bluntly, “why would a private investor be interested in you?”, most default to regaling their past (skills, expertise, accomplishments) or they way they like to work (imparting advice, influence, guidance). Here is the tough news, most private investors really don’t care. They want to know about

  • the “transformative value” (TV) for the investor after the Adviser has applied their past to the future of their investee businesses (logical reasoning – increased revenues, stronger brand, faster growth etc.)
  • the speed and quality of the “validation” (V) for the investor’s own reasons to back or not, a specific business (emotional reasoning – “am I going to look good”, enhanced credibility, mitigate personal risks, obtain future opportunities or relationships with peers, other investors, investee businesses etc.).

TV * V = Private Investor’s return on investment or “Great Deal”

“What”, “where”, “when” do you score highest as a potential Senior Adviser? Why? How do you get to those private investors with the highest need for that value?

Keep that equation and those critical questions uppermost in mind BEFORE you walk into your first meeting with a private investor.

© James Berkeley 2017

Why Should They Care?

Thursday, January 19th, 2017

I hate being “pitched” ideas, it immediately feels like my interests (building a trusting relationship) are being subordinated to advance your interests (line your pockets). Yet we all need to attract ideal customers or investors with a memorable description of our impressive value. How else can they recall when they need your product, service or proposed investment? You need a clear crisp 1 or 2 sentence statement. It needs to embrace:

  • Legitimate immediate value
  • Impressive results from its’ application and use
  • Improved performance, not problem solving
  • Your target audience’s aspirations
  • It needs to be specific, not too general

It is not about your approach, technology or ideas. Nor is it a sales tag line.

“We have created a platform to resolve the shortcomings of wealth managers, who put their interests before their customers” is interesting but it tells me little about what is really in it for me.

Contrast this with “We dramatically improve HNW investors’ performance, security and peace of mind in complex and ambiguous situations”, which begs the immediate question “great, tell me what would you suggest in this situation?” You have given the other party a reason to care about you (their self-interest), to immediately delve into a pragmatic not conceptual discussion and to recommend you to others.

© James Berkeley 2017. All Rights Reserved.

 

Acending To The Top Step

Monday, October 17th, 2016

 

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Why do so many people consciously ignore the biggest risk to getting the business or opportunity, the absence of a peer-level trusting relationship with the individual(s), whose power and influence can scupper their ability to meet their client’s objectives? If the risk is obvious, why don’t they address it BEFORE they bid for the business or seek the opportunity. Do we have an attitude deficit (we are not a peer of those people or our immediate mid-level buyer won’t let us near them) or a skills deficit (intellectual firepower, use of language, comfort in a corporate strategic discussion and so forth)?

My experience is that the procrastination says more about how the individual views themselves (self-worth, value, scarcity) and less about the reality of the situation that they are faced with. If you are not willing to invest the time, skills and resources to address the risk (establish a peer-level trusting relationship) in advance, you are probably not “worthy” of the business or opportunity in future. Harsh but true?

© James Berkeley 2016. All Rights Reserved.

 

Flourishing Business Networks

Tuesday, April 7th, 2015

Would you say that your personal and professional network is sufficiently diverse for the level of growth your firm anticipates in the next 12, 24, 36 months?

If YES, how can you best leverage your network to be even more valuable to your firm’s growth plans and your personal success?

If NO, where must you start to transform your network(s) to be more relevant and valuable to your colleagues, clients, shareholders and business partners?

My observation is that in the first third of our careers, we are largely growing and refining our networks. In the second third of our career, our networks atrophy into three groups.

(1) Some people we know well who remain highly relevant to our future.

(2) Some people we know well who could remain highly relevant but first, we must consciously and willingly adapt our relationship and how we interact.

(3) Some people we know well who are no longer relevant to our future (retired, past offerings, past expertise, past function).

A great many people will change their frequency of contact with people they know well by accident or circumstance. A minority actually make it a priority to do so. So that in the final third of their career, many people struggle to reinvent themselves and their value to others because their network is largely made up of people, who are no longer highly relevant to their firm’s future.

Rather like roses in the garden, if our future is to be appealing, the seeds of valuable present and future relationships need to planted and watered well (reciprocal help and value offered). Some relationships will bloom every year and others just once or twice before they die. Each Winter, the dead rose plants need to be removed, the flowerbeds weeded and the soil nurtured for the existing roses to bloom again next Summer. Further, there needs to be a commitment to reinvest in new roses each Spring such that every year we add greater variety, colour and freshness.

Is your garden (network) sufficiently seductive for those you wish to attract (ideal buyers, peers, shareholders, business partners) to convince them to spend time in your company (meet) and immerse themselves in your attractive offerings (buy your products, services and relationships)?

© James Berkeley 2015. All Rights Reserved.