Private equity firms face plenty of challenges but the one challenge that they don’t think about is credibility in the digital domain and a good Digital Transformation will take care of that. Before you acquire a company you may have to convince the owner or owners that you are the right fit for them. It’s their business – they want to be sure you’re going to take them further than they can get on their own, and if they give up their majority – the confidence their share is going to be worth far more when you are done. Private Equity needs a Digital Transformation.
Confidence comes from walking the talk. Would you trust a tailor to dress you if he was wearing a suit from the 70’s? I sure hope you answered, no! Now, carry this line of thinking through to your digital presence. If you were betting your future on a firm bringing you to the next level, they better look like they came from the next level. Private equity firms need to seriously consider their digital presence, and in fact, the principals need to think about their personal brands as thought leaders – welcome to Leadership Casting. You may not know it, but you could be one Google search away from having your reputation, even career destroyed. What is that question, that keyword phrase that can cause you to experience that kind of potential negative result? It’s your name.
You start to do with business with someone you have never met before – what do you do? That’s right – you Google them. Today, people expect you to come to the table with a reputation both offline and online. And this is what Leadership Casting is all about. What are you going to find when you Google your name? Is it going to be thoughtful insights into your industry, life, some compelling information about you – or is it going to be you wearing a beer cap at the ball game or, even worse, something totally NSFW (what were you thinking when you posted those pictures?)
Leadership Casting is an exciting part of the entire Digital Transformation package as it is the solution for super-charging your online persona – or brand. Most of us know that all the major companies now monitor the Web and social media for every and any remark about them – and immediately move in to squash any potential negative comments or posts. Leadership Casting, though it employs some of the tools of the social media brand manager, focuses on showing the world you are a thought leader, and builds a positive presence for you online.
Every private equity firm should be lining up right now to get on to this. Building a brand online – promoting the rock stars in your company as thought leaders, making sure your digital presence is compelling. This is what builds your firm’s credibility. Today’s digital world wants to know about you, what you think, what you stand for as well as how good you look in a beer hat. Knowledge is power is the old saying – well today that has been turned upside down – managing the knowledge about you is power.
Want to convince your next acquisition your firm is the right partner? Think about a Digital Transformation – and start with Leadership Casting.