Any thoughts/experiences on how to define a successful brand strategy for your search fund?
December 22, 2020
by a searcher from Rice University - Jesse H. Jones Graduate School of Business in Frankfurt am Main, Deutschland
December 22, 2020
by a searcher from Rice University - Jesse H. Jones Graduate School of Business in Frankfurt am Main, Deutschland
from University of Wisconsin in Minneapolis, MN, USA
To keep thing simple, I would recommend following a baseball diamond methodology:
Hitting Singles = Demographics. (Industries you focus on, range of the size of the deal you are after, key contact people you would like to be introduced to and geography that you are targeting. But this is like the ante in a poker game. The bare minimum for your strategy and often where people stop.
Hitting Doubles - Timing Triggers. What is going on in your prospect's world that has them ready to take action or make a change? Are you just looking for owners ready to retire to Naples or could it be an owner who recognizes that their business has outgrown them. You may have some unique insights that make you the best person to help.
Hitting Triples - Psychographics (a fancy way of saying, what stories do your best prospects tell themselves about who they are and what they believe in?) This is the hardest one, but most important if you really want to make a connection with impact. Are they a big DIY'er, a cat lover, Libertarian or fan of vintage cars? Think about things you also believe in and are willing to invest cash, time or your reputation to stand behind.
Pull all of these things together and you will not only be hitting Grand Slams, but you will have all the key elements you need to have a unique and compelling strategy.
from Harvard University in Indianapolis, IN, USA
Logos, domain names, etc. are a must have, but the brand is you. Why should a business owner, like, trust, and transact with you? What is special about you that should give them confidence that when they turn the keys over to their baby you won't drop them down the drain? Who within your personal network can vouch for your character?