Private Equity Cow Paths
Private Equity Cow Paths
Fund Marketing | Is Your Fund Walking a ‘Cow Path?’
The following is a short guest post from Richard Wilson at HedgeFundBlogger.com
I recently heard Eben Pagan speak in LA at a marketing conference on how business is typically conducted. I was reminded of that talk while I was in Boston last week for our Hedge Fund Premium networking event (which was great).
The streets in Boston were actually old cow paths that the city decided to just pave over to create the roads of the city. The result, is a very complicated maze of one way streets which really only make sense to the most veteran cab drivers. This is not the cows’ fault, they simply walked in the direction of least resistance. The point here is that nobody stepped back and looked at where the cows had wandered and asked if there was a better way to get the project done…they simply followed where cows had walked in the past.
Pagan’s point in telling this story was that in every business, every form of marketing and even within the fund business there are cow paths everywhere. Are you and your business wandering around on cow paths of what others have done in the past, or are you building a super highway straight towards your goal?
Areas to examine for private equity fund managers could include hiring, capital raising, employee management, performance reporting, transparency, governance, and investor relations. Our team often steps back and looks at competitors, other industries, and steps to the work we are trying to complete to see if there is a more direct or efficient way of completing it. Hope this story helps.
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Tags: private equity marketing, business, business cow path, marketing, third party marketers, marketing your fund, private equity fund management, advice
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