| Ever since Al Gore invented the internet, you | | | | pursuing a Buy the Business Strategy versus |
| can gather the background you need on | | | | an Innovator Strategy, versus a Right Sizing |
| companies in less time than it takes to make | | | | Strategy or a Sell the Service Strategy. It |
| a cup of coffee. You just need to know where | | | | is important to understand what specifics |
| to look. There are a few key things that you | | | | will allow you to recognize the various |
| should do anytime you are going to call on a | | | | Profit Strategies, and how this impacts your |
| senior level executive. | | | | sales strategy. |
| | | | |
| 1. Get the latest information. Since May of | | | | 4. Find out what causes the executive |
| 1996, all US publicly traded companies have | | | | supports. Try searching for your prospect by |
| had to file their annual and quarterly | | | | name by pulling on Many C-Level executives |
| reports electronically. Go to and pull down | | | | sit on non profit boards, like the Division |
| their 10-Q's and 10-K's prior to making that | | | | President that I was targeting in 2002. I |
| phone call. | | | | queried his name on guidestar.org and found |
| | | | that he was on the board of a certain |
| 2. Practice Fundamental Football. Use the | | | | charity. I pulled down the IRS 990's and |
| information you gather to understand your | | | | found that the organization had done quite |
| prospects industry and its competitors. Using | | | | well, and had some interesting strategic |
| a concept called the Fast Five, you can, in | | | | initiatives. |
| the course of about five minutes, uncover the | | | | |
| key metrics you need to accomplish this | | | | 5. Prepare a C-Level pitch. In order to |
| understanding. Some examples of what you are | | | | effectively present your analysis, you have |
| looking for in these metrics include trends | | | | to understand what executives are like, how |
| in net working capital, Cash2Cash cycles, and | | | | to get in front of them, and how to present |
| efficiency metrics like revenue per employee | | | | your project so that is becomes Secretariat, |
| and asset turnover. | | | | while the competing projects are seen as Mr. |
| | | | Ed. Speaking in terms of "hurdle rates" and |
| 3. Uncover their Profit Strategies - Value | | | | sensitivity analysis will allow you to paint |
| selling is deader than disco. To sell your | | | | the picture that will get your deal sold. |
| product in today's marketplace, you have to | | | | Finally, if you don't have board experience, |
| align your value proposition to your | | | | you need to couch everything you do in the |
| prospects Profit Strategies. Your approach | | | | spirit of the board of directors. |
| will be different if your prospect is | | | | |