Related Posts
Best way to improve critical thinking?
Any thoughts on BNP M&A in nyc
No FSW draw what's happening!?
Additional Posts in Investment Banking - IBD
Any thoughts on BNP M&A in nyc
When is external hire IBD recruiting season?
What’s the best VDR and why is it datasite?
New to Fishbowl?
Download the Fishbowl app to
unlock all discussions on Fishbowl.
unlock all discussions on Fishbowl.
I closed one deal earlier this year, but pipeline is very light now. Can't get sellers on the phone.
Cold starts are usually not where we get most of our hits from. Typically it’s relying on what we already have and trying to expand from there. I do have to say overall this year numbers have been down across the board, so we very well may need to recalculate our approach really soon.
Appreciate this response. Makes total sense and we experience the same. My issue is that I'm covering a sector that our firm hasn't done many deals in historically and that we are trying to grow, so our existing relationships are limited. I don't have a director or MD working above me either for support on origination, which doesn't help.
How small is small?
Don’t put too much pressure on yourself, it’s a tough market out there! I tend to do about 0.5 days a week of it, but my sector focus is very niche so can get a few hits.
Find brand is very important in opening doors, so the smaller you are the tougher it is.
Appreciate this, SVP1. It is a tough market. We have less than 25 people, so small. Most of our sell-side deals are sub-$150mm, but we've done some larger.
Our brand is very strong in a couple other sectors, but less so in the sector I'm covering, which I've been tasked with growing.
Generally, unless your bank/firm has an incredibly strong brand (I.e Goldman, MS, other BB/EB), cold calling is going to have a super low hit rate because it’s hard to establish credibility or simply get someone to pick up the phone.
Don’t get discouraged!
I work for a strong bank with a good name and we have people that screen calls.
100% - Referrals are the best way because you get validated
Go to events/industry conferences. As a VP you carry weight in your title - see if you can speak at events/provide thought leadership. Write articles on M&A in that particular field for industry association/publication.
The above will also help your cold calling hit ratio because your name will be recognized more.