War Stories Archive
An investment firm we know rehearsed delivery of its story, using the book, for a two-hour presentation. As the portfolio manager and co-portfolio manager began telling the story they had rehearsed, moving from page to page of the book, the most influential member of the audience said, “Please. We do not want a formal presentation. Set your books aside. We just want to talk about your approach to investing.” This audience of sophisticated investors then proceeded to pepper the portfolio managers with questions. While a bit rattled at first, the portfolio managers held up just fine and won the business. They stopped using the book, referring instead to a one-page checklist of items they wanted to be sure to cover.
The audience did not want a formal, book-driven presentation. They wanted to “just talk.” What they really wanted was to hear the story told spontaneously — the better to uncover any inconsistencies in process implementation.
Moral: Be prepared to ditch the book.
For another true story about the merits of book-free delivery, see Time’s Up! in the War Stories archive.