It’s Just Another Job Interview…
Recently, a friend of mine asked me to look over his resume before applying for a new job. Putting myself in the position of the hiring manager, I could tell within 45 seconds if I’d consider giving him an interview.
We’ve all had to look through a stack of resumes before – it’s an extremely tedious task especially when you have other things you need to do. Why is that? Because most resumes end up being a dense ocean of information you have to wade through; along with this, if you put me in front of the Atlantic Ocean and then immediately the Pacific, I probably wouldn’t be able to differentiate between the two. Point being, all these resumes look the same!
If you want my attention, I need the important information about you to pop off the page; otherwise, I’m just going to move onto the next one.
Now, let’s get industry-specific. When you want to raise capital, you create a marketing deck and send that off to an allocator. Your fund’s marketing deck is essentially its resume. Most portfolio managers we talk to have done plenty of recruiting themselves and have seen plenty of resumes. I would be surprised if too many of these managers took significantly more time than I do when reviewing a typical resume. I would also be surprised if they did anything different than I do with the lackluster, language-heavy resumes as well. At best they go into the “maybe I will look at this later (but probably not)” pile.
So, why do these PMs think that their fund’s "resume" is going to be given any special treatment when they stick it in front of an allocator?
So... how do you get an allocator's attention?
Write your marketing deck (resume) so that they can absorb your message in the time that you know they will realistically give it. If your core message isn’t jumping off the page within 45 seconds (or less), you need to re-think it.
Start with a high-level overview of why someone should care about your business and then layer in the details as the deck progresses. Intrigue them just enough to get them interested in learning more. If you can do this in both a quick and concise manner, you’ll give yourself a much better shot at garnering more interest in your business.