Traders doing the marketing. Marketers handling investments. Mass hysteria!
What would you say to someone that told you that they intended to write their resume only after they got the job offer? Or how about if he said he was going to wait to create his trading strategy until after he generated some decent returns.
Probably not someone you would bet on, right?
As crazy as it sounds, we hear the equivalent of that all the time when it comes to putting together marketing materials (“I will create marketing materials after I get some money in the door…”).
Actually – that’s an exaggeration, what we really hear is, “I will create a half-ass marketing deck now but write a really good one after I raise some money.”
It’s just backwards…
There are a lot of DIY’ers out there in this business when it comes to marketing – and that is absolutely great, if creating marketing materials is your thing. But the reality is, in most cases it is not.
And just as it's obvious that you buy the suit before the interview, it should be just as obvious that you have someone take a critical look at your value proposition beforeyou go out asking for money. Because no one will invest in you if you haven’t invested in yourself.
From a numbers perspective, the ROI on a small investment can be enormous. If someone told you that you could get a $1mm annual return – or more, for a $5000-$50,000 one-time investment, you would likely say, “no brainer”. But that is basically the math for someone looking to raise $100mm at a 1% management fee.
...And just like you wouldn’t trust a marketer to run your portfolio, think about whether it makes sense to trust a portfolio manager to run your marketing.
By JD David