Fund Manager Mistake #5: Not qualifying prospects

I recently teamed up with Matt Krause of Doppler Communications to record an interview series about the typical mistakes fund managers make when it comes to presenting their business. I've been in the fund management business for years and we mostly talk about all the mistakes I used to make myself.

You know the saying 'never let good failures go to waste' :-).

With Doppler Communications, Matt focuses on helping us improve our presentation skills.  I drop everything to read his emails because they always give me great insights.

In this series, we covered the 5 main mistakes fund managers make. Here's what we'll cover today:


Mistake #5

Not qualifying prospects




At first glance this one seems like a rookie mistake, but even people who have been in the business a long time still do it sometimes: wasting time talking to the wrong people.

It’s not that the “wrong people” are bad people. But your time is valuable, and it shouldn’t be spent helping fund buyers hit their KPIs, or helping junior staffers learn how to interview fund managers.

A pro tip: Hold more of the initial meetings on Skype. The fund management business is notoriously shy when it comes to technology, but we talk to plenty of fund buyers, and they are more and more accepting of web meetings. In fact, they say web meetings are a very effective way for them to qualify or disqualify fund managers. They might be even more glad than you are that you suggested a Skype meeting first.