Case Study: BlackmoreConnects System

Introduction

Key Messages

1. Active Engagement and Preparation: Executives must actively engage in networking and relationship-building, both within and outside of BlackmoreConnects.
2. Clear Value Proposition: Clearly articulate your value proposition to potential PE partners, showcasing your industry expertise and deal thesis.
3. Long-Term Commitment and Strategy: Success in PE requires long-term commitment, strategic outreach, and continuous learning.
4. Resource Utilization: Leverage tools like Pitchbook, CYNDX, and industry conferences to build a robust deal funnel and connect with key stakeholders.
5. Personal Branding: Develop a strong personal brand through consistent presence at industry events, strategic outreach, and thought leadership.

Detailed Process and Steps

1. Conference Preparation

• Use the conference website, attendee lists, and tools like Pitchbook and CYNDX to identify key players attending the conference.
• Focus on investment bankers, intermediaries, PE firms, and service providers relevant to your industry and deal thesis.

• Proactively schedule meetings with potential partners and stakeholders at least two weeks before the conference.
• Craft personalized outreach messages explaining why you want to meet and what you hope to discuss.

• Develop a one-page deal thesis highlighting your industry focus, target companies, growth strategy, and potential returns.
• Include key metrics such as EBITDA, revenue, and growth projections.
• Prepare a concise 30-second elevator pitch to present during meetings.

• Bring business cards, printed copies of your deal thesis, and a portfolio showcasing your past successes and expertise.
• Review the conference agenda and plan which sessions and networking events to attend.

2. During the Conference

• Attend relevant sessions to gain insights and identify potential connections.
• Participate in networking events, such as speed networking and receptions, to meet a wide range of attendees.

• Visit exhibitor booths to learn about new service providers, tools, and technologies that can support your deal thesis.
• Engage with exhibitors to build connections and gather business cards.

• In meetings, use your 30-second elevator pitch to introduce yourself and your deal thesis.
• Highlight your unique value proposition, industry expertise, and the strategic fit of your deal thesis with their investment focus.

• Ask questions to understand the PE firm’s criteria, investment strategy, and areas of interest.
• Take detailed notes on each meeting, including feedback on your deal thesis and potential next steps.

• Be prepared to pivot your pitch based on the feedback and interests of the PE firm.
• Have multiple deal theses or value propositions ready to discuss different opportunities.

3. Post-Conference Follow-Up

• Immediately after the conference, organize your contacts into categories such as potential deal partners, service providers, and strategic partners.
• Use a CRM tool to track interactions and next steps.

• Send personalized follow-up emails within 48 hours of the conference.
• Reference your meeting, reiterate your deal thesis, and outline next steps for collaboration.
• Include any requested materials or additional information discussed during the meeting.

• Propose specific dates and times for follow-up meetings or calls to keep the momentum going.
• Continue the conversation, addressing any questions or concerns raised during the initial meeting.

• Regularly update key connections on your progress, new developments, and relevant industry insights.
• Attend additional conferences and events to reinforce your presence and build deeper relationships.

Reasoning

• Building Relationships: Establishing a strong network within the PE industry is crucial for identifying and securing deal opportunities.
• Strategic Positioning: Presenting a clear and compelling deal thesis positions you as a valuable partner, increasing your chances of successful collaborations.
• Continuous Learning: Engaging in conferences and workshops helps you stay updated on industry trends, enhancing your ability to identify and capitalize on opportunities.
• Resource Utilization: Tools like Pitchbook and CYNDX provide valuable data and insights, enabling more targeted and effective outreach efforts.

Money Justifications

• Investment in Networking:

1. 1. • Costs: Conference fees, travel expenses, and accommodation.
      • Returns: Potential deals, partnerships, and valuable connections that can lead to significant financial gains.

2. 2. • Costs: Subscription fees.
      • Returns: Access to comprehensive data and insights on PE firms, deals, and industry trends, enhancing deal sourcing and outreach efforts.

3. • Costs: Membership fees and participation in BlackmoreConnects events.
   • Returns: Structured support, access to exclusive conferences and workshops, and a network of high-caliber executives and PE firms.

Conclusion