Posts by allan:
In a forthcoming Webinar, the Exit, LLC Team warns “Don’t Lose the Deal – Proprietary Psychology is Different.” Exit, LLC is speaking to 800-900 founder owned businesses a month and is focused on finding new opportunities for their strategic buyers and private equity firms.
Their first tip is that you talk dramatically differently to a business owner than you would to an M&A firm. Sure, you are eager to get answers but watch out, if the conversation starts sounding like an interrogation, you could irate your target and lose the deal.
Some of the things you will hear in the webinar are how to make the right first impression and how to figure out the best time to approach your target company. They also have a lot to say about creating an origination strategy with the discipline and metrics you need to build a large pipeline and gaining more high quality opportunities. The webinar is free and you can register for either session:
March 29, 2016, 10:00 am EST - RSVP TODAY >>
March 31, 2016, 2:00 pm EST - RSVP TODAY >>
Meg Green & Associates Describes How Financial Advisor Cloud Technology Helps Them Lead in Client Service at T3 Wealth ConferenceDecember 4th, 2015
Barrons listed top financial advisory, Meg Green & Associates, plans to dramatically grow beyond its Miami base. At the recent T3 Enterprise Conference that we attended, the firm’s president, Todd Battaglia, talked about setting the stage for growth while simultaneously improving customer service, the firm’s infrastructure and compliance.
Battaglia says he initially saw Navatar One, built on the Salesforce platform, as primarily a technology refresh to improve the user interface, upgrade security and business continuance.
“One year into the partnership, we realized Navatar One is more than a software, it’s a connected growth platform that’s taking the DNA of what we do as a firm and embedding it into a technology system to make us better at what we do,” he said.
According to Battaglia, Navatar One delivers dramatic improvements in three crucial areas for Meg Green & Associates: Read the rest of this entry “
U.S. markets were down nearly 3% today amid continuing worries about China. When asked by Bloomberg TV to describe in a word what’s going on, James Bianco of Bianco Research said this: “Uncertainty and Fear.”
If you’re an advisor, check out our newest feature, VAX. The Navatar VAX Rating gives advisors and staffs a simple but effective way to capture and manage the real world, real-time anxiety levels of each client. Clients are rated as “highly anxious”, “somewhat anxious”, “somewhat resilient”, or “very resilient” to market volatility events.
This tool enables an advisor to segment the client base and personalize communications based on how reactive and fearful they are to market downturns. And our wealth clients tell us they are fielding lots of calls from worried clients right now.
We are also working on rolling out an institutional version of the VAX feature for hedge funds and other segments.
Hurricane Sandy appears to be heading toward a major area for Private Equity, Hedge Fund and VC’s, the Mid-Atlantic and Northeast. The big storm could bring power outages and flooding along with other damage the beginning of this week.
For those alternative assets firms still relying on on-premise equipment, they have the weekend to work on business continuance issues. We hope that they have data backed up to a remote site with some provision for employees to work from home by dialing into a remote server using encryption. If they don’t have a remotely backed site, they need to plan for power issues, lost telephone service and potential damage to the closet or data center that houses their equipment.
We expect the storm to be less of an issue for firms that are using Cloud computing. For example, in the case of Navatar private equity, hedge fund, M&A along with Corporate M&A and VCclients, their data is stored in more than one location (salesforce.com servers mirrored and backed up across data centers). They can expect to face the loss of power but fortunately battery powered laptops, iPads, iPhones, BlackBerrys and Android devices can bridge the gap until power comes back up. Because of a couple of storms last year, many of the people I know in Connecticut now have generators at their homes that will not only save the food in their freezers but will allow them to work without interruption. By the way, the Navatar Support Team is geographically dispersed so they will not be affected and available to support customers.
The biggest vulnerability for the Cloud clients is losing access to the Internet. It just takes one tree to take out cable delivered broad band service. Fortunately, there is cellular data coverage as an alternative. Most people have access to more than one smart phone. It might make sense to forgo the family plan and put one of your phones on AT&T and have another member of the family use Verizon or some other service. If you do lose service you still have the option of driving to another location (unless that tree that knocked the wires down happens to be blocking your way).
One situation that’s a challenge for both those with either the on-premise or Cloud model is having the schools closed for week with the kids home. As a private equity executive told me today, that scenario really makes it hard to get work done!
The New York Times today talks about America’s cyber attack on Iran and about duping someone into inserting malicious code. A hard trick because the computers running Iranian centrifuges were physically isolated from the Internet.
“It turns out there is always an idiot around who doesn’t think much about the thumb drive in their hand,” said a plan architect.
The term “idiot” is probably unfair. The people working at a nuclear plant probably are smart but thinking about other things than security. That’s why the ruse was so clever. Who hasn’t received a thumb drive as a promotion and stuck it into a computer without thinking.
The people we work with in private equity are all smart with great educations. Regardless, I expect that some are still keeping your strategic buying targets, your notes and investor lists in Excel. Probably still saving your spreadsheets onto virus vulnerable hard drives and backing up and moving data with thumb drives. Right?
Perhaps one of the partners is at this moment using a thumb drive he/she received as a promotional gift.
As head of sales here, it would be irresponsible not to say that you would be safer with Navatar and by having your data stored securely, mirrored and backed up in the salesforce.com Cloud. That way, only you have the logins and the ability to access your data.
So, think twice about that thumb drive. Talk to us about upgrading to Navatar.
We couldn’t be more excited about having Alps Fund Services join Navatar’s Mutual Fund Cloud. It is a major milestone in our mission to bring Cloud Computing to Wall Street.
ALPS Fund Services is a big name in the Mutual Fund industry. It distributes Select Sector SPDRs and provides a full services suite for open-end, closed-end, exchange traded and alternative investment funds. Combined with ALPS Distributors, Inc., ALPS Fund Services services more than $240 Billion in client assets.
What ALPS gains with Navatar is Mutual Fund CRM and sophisticated sales reporting with transaction data from transfer agents and brokers, all delivered through the Navatar Cloud for a low monthly fee.
Why Navatar? ALPS Portfolio Solutions and Select Sector SPDRs, Regional Sales Manager, Jeff Brainard says, “We found Navatar’s Mutual Fund Cloud for Salesforce to be the most complete out-of-the-box product for our industry.”
Thanks Jeff. We look forward to helping Alps achieve record sales!
Navatar’s Mutual Fund CRM in Salesforce.com’s Cloud Highlighted by Money Management Executive PublicationNovember 8th, 2010
Money Management Executive magazine highlights Navatar Mutual Fund Cloud in its latest Operations & Technology Special Edition. Navatar Mutual Fund Cloud now makes it possible for a wholesaler to get CRM, Sales Reporting, Transfer Agent Data and much more for a low monthly fee through salesforce.com’s cloud. A great example of multitenancy at its best.
Editorial Director Tom Steinert-Threlkeld says it is now possible to measure funds sales performance across various channels.
“Take Navatar. This is a buzzword-friendly service that works “in the cloud,” giving you access to tools for managing relationships with brokers, banks and financial advisers “on demand.” Alternately, you can consider it “software as a service,” running on top of a suite of services offered by Salesforce.com, which pioneered the concept of letting companies subscribe to online versions of computer programs which they didn’t have to install or maintain.
Navatar’s mutual funds add-on to Salesforce.com lets sales managers see aggregate sales data from different regions of the country or by broker-dealer firm or other overall measures. But it also breaks down sales to the transaction, so the performance of any individual rep can be tracked and evaluated.”
Navatar Mutual Fund Cloud is used by prominent firms such as Jefferies & Co., Guggenheim Partners, Alps Funds. It includes transfer agent data from DST, Sungard, Envision and others. It also includes intermediary feeds from Schwab, Fidelity, DST and others.
To learn more about Navatar Mutual Fund Cloud, visit:
To read the full article, you can sign up for a free trial of this publication aimed at leaders in asset management http://www.mmexecutive.com/.
Oops, we forgot to mention an article we wrote recently that’s garnered more than 2,700 “reads.” By the way, “reads” is not my term, it’s what sys-con calls it. I would call them hits or scans. I’m not sure anyone (except me) actually reads anymore.
So, the article starts off says we are openly attacking the vestiges of the on-premise software model because we are providing all implementation and support services for financial firms interested in salesforce.com, for free. We go on to say that our announcement promises to start a new trend among cloud product providers – free services. This is bad news for legacy software vendors who earn millions of dollars from implementation, maintenance and support fees. You can “read” the rest of the article at:
In the wake of news reports that Venture Capital fund raising had its lowest quarter since ’03, you might be surprised that very sophisticated buy-side firms such as Hedge Funds, Venture Capital firms and Private Equity firms often rely on the must rudimentary, home made fund raising methods (see article: Only 17 venture capital firms raise money in Q3 fewest in 15 years.) For example, many firms are still tracking their efforts in Excel or via notes in Outlook. It’s a very manual, time consuming and arduous way to track and manage their efforts.
Ironically, this is happening at a time when it has never been easier for a Venture firm to switch to better systems with almost no effort. The same browser they use to search for news and research can also be used for the industry’s most sophisticated CRM. No hardware needed other than the laptops they are now using and access to the Internet.
Whether they use our service built on the force.com platform or on top of salesforce.com or some of the other services out there, you have to wonder why, during this time of great stress they are still trying to make do with Excel and Outlook. If it is cost that is holding them back, you really have to wonder. We have priced our service at about the price of a couple of cups of coffee a day on Wall Street. On top of that, our Marketing Department is launching a “buy one get one free” promotion.
If you are in one of these financial firms and suffering from the funding drought – maybe it’s time to think about improving your pumping equipment.
But, it’s clear that going “social” is the new bandwagon to jump on.
Below Marshall’s article there’s a big excerpt from The Facebook Era by Clara Shih, the head of social media alliances and product strategy at salesforce.com. The full (and really long) title of her book is, The Facebook Era: Tapping Online Social Networks to Build Better Products, Reach New Audiences, and Sell More Stuff.
According to one reviewer on Amazon, (Adam Smith,Bainbridge Island, WA), “The Facebook Era is a bleeding edge guide to how social networking portals such as Facebook can give astute businesses a leg up.”
We know a trend we see one. The “no software” folks are leading the charge into social media CRM selling.
Expect a tidal wave of new sales books coming out with titles like Strategic Conceptual Facebook Selling for Complex Sales.
Seriously though, we have just downloaded Shih’s book onto our Kindle2 and look forward to reading it during the commute home from Wall Street tonight.
Have a great day!
Placement Agents have been in the news a lot recently and some of the stories haven’t been particularly friendly to the profession. Now, there’s some good news – a product that will make their jobs easier.
The product is designed to:
Manage prospective clients (both sell side and buy side)
Manage sell and buy side relationships
Manage fund sales
Conduct Due Diligence on Funds (Fund Managers)
Quickly and easily generate client reports and client metrics (dashboards)
Track CRM activity including calls, meetings and emails Mass mailings
Navatar Group has built this product on top of the force.com platform (it is 100% native to the salesforce.com programming). We are long-time salesforce.com partners headquartered in New York (44 Wall Street). We specialize in financial markets (hedge funds, fund of funds, mutual funds and private equity).
During a late afternoon conversation, the CFO of a Private Equity firm tells us what starts off easily quickly becomes like a complicated Russian novel. Toss in lots of emails and attachments and it really becomes headache inducing. Especially when you have to create reports.
“You have to track who you talked to when and what you talked about. Later, are those people you talked to still interested in investing or not? And, ultimately track what they chose to invest in or not and as what entity and in what fund.”
Helping you easily keep all this straight is the problem we solve for essentially the price of a daily cup of coffee (we are talking about the one we used to buy across the street at Starbucks on Wall Street, not the lower priced McDonalds in Westport, CT). Navatar’s Private Equity is built on the salesforce.com platform so all you need to access your data is a browser. Of course, seeing is believing. We are always happy to give a quick demo so please don’t hesitate to ask.
We liked the way VentureWire said it – “noteworthy for who isn’t included…” The lead paragraph from their story is below and pretty much says it all.
Cloud Standards Effort Could Turn Into A Dustup
VentureWire, May 04, 2009
“A trade organization whose members include IBM Corp., Microsoft Corp. and a laundry list of other tech companies announced this week that it has formed a group to create standards for a way of accessing information over the Internet known as “cloud computing.” But the new effort is just as noteworthy for who isn’t included: Google Inc., Amazon.com Inc., Salesforce.com Inc. and other Internet companies….”
We have always been cynical about mobile CRM.
Maybe it’s a left over feeling from the early mobile stock market devices we sold for Reuters they were the size and weight of a brick and if you moved too far from a window, they blanked out – of course, that was about a decade ago.
We have been playing with mobile CRM on a Blackberry and it’s surprisingly good. Okay, we are not an early adopter of this salesforce.com mobile but we now like it a lot. You can see data or add data regardless of connectivity. That’s because the application and the data are loaded on your device. So, for example, you can quickly add a meeting report during an airline flight. The data synchronizes immediately when you land and are connected again.
The only problem is that we have a Pearl (8130). That’s the one with the really small screen (about the size of two postage stamps) – so, we have to carry a magnifying glass to see our accounts and tasks. Maybe this is an excuse to upgrade to a new phone.
Here we are at the month end and sales reps in many firms are going to be instructed to do what it takes to close deals. So, there’s this quote that we literally ripped out of Ron Hubsher’s book, Closing Time that might help.
1. Sales is about creating an eager buyer. By creating an artificial timeline to get a discount for the buyer, you have not created any real value to the buyer. If the buyer was convinced you were the best choice and was ready to choose your offering, you have needlessly given away 20% of your revenue.
2. If the buyer is not ready to commit to you, you have dropped your pants. What do you think will happen next? If the buyer eventually decides to choose your solution, will he pay full price? Probably not. What minimum discount will he start with?
Ron goes on to say that you will have trained your buyer to delay his purchase and ask for a larger discount.
So … best of luck from all of us at Navatar Group on creating a winning month!
Oh, one more thing.
More about Ron?s book at: http://www.salesog.com/bookpage. By the way, he has a killer list of blurbs that any author would die for; here is just one of them:
“An outstanding system for negotiating and closing sales opportunities on a global basis. I would recommend it to executives looking to drive revenues, command price premiums, and increase shareholder value. It is easy to understand, easy to use, and easy to implement. It is a must read.”
– Jim Steele: Chief Customer Officer, Salesforce.com
Data center issues often prevent firms from creating new financial software products.
We are talking about issues like data center space (if there is any) and the up-front costs of buying servers, switches, firewalls and the like before you can go “wheels up” with your new offering.
What’s nice about the Cloud model is that you can build your product and not have to worry about the ongoing data center cost of running it. Nor do you worry about adding new customers. You pay by the seat as you ramp up. So, all of a sudden, bringing a new product to market becomes a whole lot easier.
We know, we have done it. We would like to hear your thoughts on this topic.
The phrase outsourced solution never really set hearts racing. But, the Cloud is different.
That’s why when a top thought leader started pushing the term and said that he is using it in a forthcoming book the legacy, internal data center defenders knew they faced a real threat.
So, they (and the people who sell to them) created that relatively new, buzz mash-up Private Cloud.
Ugh. Kind of reminds you of word constructs like enhanced interrogation or secret UBS account.
The real Cloud suggests a shared model (usually called multi-tenant but we don’t like that term either). Shared is better because it conveys that costs are shared and that there’s a solid TCO (Total Cost of Ownership) story. And, that is what makes the Cloud a good thing.
The bottom line, Private Cloud is an embarrassing term created by defenders of the old order.
NEW YORK, April 21, 2009 (GLOBE NEWSWIRE) — Navatar Group, a global salesforce.com partner in financial services, today announced several new customers, including KStone Partners, Kelvingrove Partners and Zebra Capital. The firms are using Navatar’s customized CRM for Hedge Funds, a cloud computing application to manage hedge fund and fund of funds operations. Navatar CRM for Hedge Funds is built and run entirely on the Force.com platform from salesforce.com and is available on the Force.com AppExchange. http://www.globenewswire.com/newsroom/news.html?d=163434
It was at the same place the G-20 met but there were no protesters.
The attendance was massive and from some of the largest firms in Europe. Some estimates were 4,000 people. Discussions were lively! We’d tell you more but the true spirit of the event is well captured by the force.com blog – so we’ll point you there: http://blog.sforce.com.
Have a great weekend!