FOLLOW UP 311
While you are focusing on the lead analyst, do not overlook the most senior person
present. Suggest that you telephone that person maybe in a couple of weeks to obtain his
or her latest views on your proposition. You now have a plan for follow up.
Meeting post-mortems
While the meeting is still fresh in your mind, replay it mentally and consider if your busi-
ness plan did its job. Make notes for reference and list the topics to cover at the next
meeting. Were there questions that the plan does not answer? Did you identify the deci-
sion-makers? Were there prejudices or concerns that conflict with the plan? Were you
asked for further information that could have been in the plan? You might want to revise
the document, especially if you expect to be showing it to other people.
When you are in a repetitive cycle, you will certainly want to make sure that next year’s
plan covers these points.
Follow up
A short thank-you note is always a good idea after a meeting. If you were asked for further
information that will take a few days to compile, write immediately confirming that the
information will be forthcoming. Then provide it as promptly and accurately as possible.
Do not forget to keep your own notes and diary up to date. You do not want to forget a
vital deadline at this stage.
Telephone as promised. Build a relationship with the analyst and help him or her see
things from your point of view. You want to aim for understanding, support and abso-
lutely no hostility. Being asked for extra information (aside from suggesting that things
might be missing from the plan) is generally a sign of progress.
I find that complex business proposals tend to spawn a series of related reports. For
example, a request for technical information can be answered by a short technical
appraisal written for the non-specialist. Aside from this, the most commonly used addi-
tional documents are a detailed market appraisal/marketing plan, and an FAQ – a list of
frequently asked questions with answers. The Internet seems to have encouraged their use.
I find them a very effective way of explaining concepts.
You might also bring together a set of information that helps backers with their due
diligence – see page 313.
‘A cookie store is a bad idea. Besides, the market research reports show that America likes
crispy cookies, not the soft and chewy cookies like you make.’
RESPONSE TO DEBBI FIELDS’ IDEA OF STARTING MRS FIELDS COOKIES
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