Are you making cold calls but just not locking in enough deals? Compass Equity Group's Jonathan Babcock joins the show to explain how playing the long-game and developing a firm-wide culture of thesis lead business development has helped them win.
Jonathan walks us through the Compass Method's 13-touchpoint outreach strategy and how it leads to deeper connections with business owners, keeps them competitive and wins deals.
📍CHAPTERS:
00:00 – Intro
02:30 – An Overview on the Compass Method and How to Stay Competitive
07:30 – How a Thesis Driven Approach Can Set You Apart
08:30 – Going from Idea to Fleshed Out Thesis
10:30 – The Thesis Development Process
12:45 – The Importance of Metrics in Thesis Development
14:30 – Essential Information for Developing a Thesis
17:45 – Centers of Influence & Key Relationship Building Techniques
21:30 – How Do You Find Well-Connected People In Your Target Markets?
23:00 – When to Start Direct Outreach
27:15 – Measuring Success
29:00 – Advice for Starting at a New Firm
📝 KEY TAKEAWAYS
“People forget that people do deals with people they like.”
“You have to have an angle, and it needs to be ingrained in the culture to do things in a differentiated way.”
“Don't confuse activity with productivity. Metrics play a key role in identifying what stage you're at - is it moving forward?”
“Leave the suit at the office. I do a lot of cold calls where the first ten seconds are crucial and you've got 10 seconds to show why you're reaching out, building credibility. But the most important part of that I've realized is, you don't spew out a bunch of industry knowledge you think you have - you try to build a relationship.”
🔗 CONNECT WITH JONATHAN:
LinkedIn: https://www.linkedin.com/in/babcockjonathan/
#BusinessDevelopment #PrivateEquity #Thesis
