Firms work tirelessly to create businesses and portfolios that matter. They engage around philosophy and process, find unique investment ideas and approaches, and manage risk on behalf of clients. How well is your team telling this story? Does your team – both portfolio managers and business development professionals – share a consistent and demonstrated passion for the firm and what it does with your prospects and clients? Chances are there are some strong points and some weak links, regardless of organization size, time in market and team. Curious where these are? Perhaps a two way mirror is not realistic, but taking the time to test the team’s delivery is invaluable. Firms regularly waste fantastic introductions, or worse yet follow up opportunities, with poor presentations. How can you be sure your firm is delivering a compelling, impassioned, consistent presentation to the market? Here are a few strategies:
Invest in a simple webex and/or home grown video taping of individual team members presenting the firm’s story including answering questions. Review the footage and identify areas of strength and areas for improvement. Compare team member versions and find the ‘best’ points made by each – share these highlights with the team.
Engage presentation training experts to work with your team one on one and in presentation teams. This dos not have to cost a fortune nor take a significant amount of time. The results will be game changing. There are no presenters who can not benefit from individualized presentation training to enhance their skills and improve upon areas of weakness. It also brings the team together, ensuring everyone is working towards the same goal and interacting regarding the firm’s positioning, questions and objections being raised, and success stories.
Schedule your own version of American Idol, prizes and all. Have all team members ‘pitch’ the firm to an internal audience and have each audience member identify the top 3 phases, ideas or statements they heard that resonated most to them in positioning the firm. This should include a 5 question Q&A role play at the conclusion of each presentation. As a result, answers to questions are fair game for the Idol trophy! This method has the benefit of simultaneously engaging the team, testing skills and educating around best positioning.