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“Fringe Times” in Capital Raising – Use them or lose them!

IMG (company)

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An article by Sahil Merchant of Mag Nation fame got me thinking about Mark McCormick.

Mark McCormick was the founder and chairman of International Management Group, now IMG, an international management organization that handles the commercial affairs for sports figures and celebrities such as Björn Borg, Chris Evert, Pete Sampras, Michael Schumacher, Charles Barkley, Kate Moss, Margaret Thatcher, Mikhail Gorbachev, Pope John Paul II, and in the 1990s, IMG would become Tiger Woods’ first agency.

Mark McCormick often spoke of learning to ‘tune into fringe times’ – his tip to exploit casual moments, when people let down their guard and reveal hideous truths about themselves? Mostly when people are parting! Just before they go … when you find the real reason why they visited. “Oh! By the way could I borrow the lawn mower.”

While you are actively Capital Raising these fringe times could be the difference between raising capital or not.

 

That fringe time at the end of each meeting. Maybe as you open the car door to go. “Look I’ll get back to you” they say…. but “You should really meet X”.

Recognising that signal is worth gold!

OK so maybe they feel guilty that they cant invest in your business. You are probably best to swallow and mumble “Some will, Some won’t, So what” (then amplify your hearing and wait). That fringe comment, usually coming from guilt, as you say your goodbyes, could lead to your next investor.

“Look I’ll get back to you” they say…. but “You should really meet X”.

Thats why I liked Sahil’s article, it has chosen a moment most people miss. Uncovering these moments is an integral part of every ASSOB “Discovery Session”. A Discovery Session is when all the stake holders in the company raising capital sit around the table and are facilitated through a structured process to yield prospective investors.

 

 

 

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