You are Starting Your Meeting off on the Wrong Foot - How to do it better

Most Investment Bankers and Private Equity Partners (former IBankers) start a meeting with management by telling the counterparty about their firm, showing a slide of accomplishments, and introducing the team.

This is like going on a date, presenting your resume,
and showing your date your deal toys. Yikes!

How did it get this way? It’s default behavior started 30-40 years ago which has perpetuated unquestioned. Yet, when we look at the results of this approach, we know it is fairly ineffective and inefficient.

A better way to start a meeting as a banker or Buyside Private Investor looks like
1. Thanks for taking the time to meet with us. I know you had a chance to look at our materials
2. Before we jump into the discussion, I’m curious what led you to take this meeting today – I know you’re busy, so what did you know about us that made this worth your time?
3. By the end of this meeting, what can I help you with that would have made this meeting worthwhile?

If they took the meeting with you, they want something from you! This isn’t a charitable industry. Find out why they took the meeting and how they think you can help them. From here, you may shape the meeting to address their questions and needs. As you help them get clear on what they would need to move forward, they will begin to see you as a credible partner.

This “sales” process forms a template for how you will interact going forward. So starting the pitch by bragging about your resume shows your self-focus, and is a red flag to your potential client – the CEO/Seller. How can you reorient the established ways of doing things?

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