Question

Topic: Strategy

Past Performance For Young Companies

Posted by Anonymous on 125 Points
How does a young firm of experienced professionals "prove" their past performance when as individuals they have worked on comparable projects, but the new company they have formed has not yet done the work as a company?
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RESPONSES

  • Posted by wnelson on Member
    Trish,
    Obviously, you can't prove anything that has yet to happen. However, you can "market" a company's capabilities to investors and customers. The way to do that is similar to the way it's done on a resume. After all, when you interview for a new position for a different company, you have absolutely no experience with that company. On a resume, you highlight relevant experience you have and the track record of your accomplishments in specific high impact terms (quite often monetary units). Many times the resume is customized for the specific employer. During an interview, you listen for problems your perspective employer has and relate examples you have experienced that are similar in circumstances, highlighting creativity, effectiveness, and a succinct line of thought and order.

    So, with a new firm, the same is true. First, you put together a profile of the company talent with relevant collective experience, skills, and accomplishments in high impact terms. In addition, with a business, you have the added opportunity to put together details of the company strategy in logical, well ordered terms. These documents may require customization by customer or investor. For some businesses, proposals can be written using detailed language to convince customers or investors of the firm's expertise.

    I hope this helps.

    Wayde

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