There's a myth about winning banked deals. Then there's reality.
There’s a myth about proprietary sourcing. That doing larger deals excludes any need for direct outreach to executives. The reality is much different.
Let me explain.
Most think the edge to winning these larger deals is having enough data to conduct early due diligence. Speed up the process. Get a head start on your competition.
Why? Going that route does not ensure that your firm even gets a seat at the table.
When a banker makes a list for the process, who’s on the list? The bankers recommendations, yes, absolutely, but also the CEO’s.
The secret to winning a banked deal: building relationships directly with CEOs.
When asked for their recommendations, CEO’s will list out the dealmakers they’ve been in contact with for years before the auction. They’ll mention the dealmakers who have provided value and stayed top of mind.
I wish the secret was easy. It’s not. But it is effective.
Nurturing a network of CEOs in your industry/s requires work. It requires building your authority in space. It requires time and effort to prove to CEOs that they should respond to your emails, take your phone calls, and meet with you when you’re in town.
But the effort pays off. Relationships win deals.
In order to build these kinds of relationships at scale, you need the right technology. You can try to track thousands of companies, communications, and contacts in a spreadsheet, but things will inevitably fall through the cracks which can lose you a seat at the table.
With Grata’s deal sourcing platform, you can build a network of relationships, find the right targets, organize and plan for trips and events, and close your next deal. It’s everything but the handshake. That’s on you.
Learn more. Set up a demo today.