The path to us is oftentimes circuitous. We aren’t typically the first call. This distinguished honor generally falls to the placement industry. It’s understandable, of course. Managers want money and placement agents have the relationships. Unfortunately, the number of managers that find real success is extremely small – compared to all those that engage placement agents. And that doesn’t even account for all the managers that the placement industry immediately rebuffs due to inadequate performance, lack of track-record, operational deficiencies, liquidity concerns, AUM level, etc.
This is by no means a slight on the placement industry. Sure, there are lesser teams, however, generally, the industry is comprised of very experienced people with real relationships. Still, though, success is fleeting. Why?
We are being represented by (insert big time placement team here), the condition of our deck doesn’t matter. Not to be the bearer of bad news, but it does matter.
If you look unprofessional and unrefined before engaging a placement team, that doesn’t go away when a placement team chooses to work with you. If the team is good, they will try to rectify this situation. The reality, language aside, most don’t have the creative and design capacity to build websites, produce videos, and push a marketing deck beyond adequate. Even fewer understand how to build brand. Even fewer still, understand how to put marketing technology to work to more efficiently profile interest.
In the quest for capital, placement agents are a tool. My point, a progressive, impressive, and relevant marketing platform is also a tool. Don’t think otherwise. The industry is simply too competitive not to use all tools available to you – if you are truly serious about raising capital.