An Honest Answer works with Investors and Prospects.
Posted by Frank Belzer on Tue, Jun 22, 2010 @ 01:41 PM
This is my second post related to valuable lessons from the Xcite conference last week.
As I mentioned previously there were a host of interesting presentations by a variety of CEO's from a number of cutting edge companies. I particularly enjoyed a panel discussion that featured 3 CEO's from some Pharmaceutical companies.
One of the key points was that a stock price is not always reflective of the true worth of a company and the viability of the current development of a drug. However even though that is the case the public and Wall Street tend to rely entirely on that one number in forming their opinion. Not necessarily the truth. A point quite candidly made by Ironwood Pharmaceuticals CEO Peter Hecht - he emphasized the importance of being straight with investors and his brutal honesty was quite refreshing - honesty usually is.
As a rule we see something quite similar when we ask CEO's to look at sales people - both the people working for them and potential candidates. Often they want to look at just one number - we like to dig so much deeper than that. In fact our evaluations measure sales performance on a multitude of levels and a variety of data points. Always the truth.
When we look back historically we can find a number of examples where decisions were made with all the facts and an equal number where decisions were made with limited facts or only one fact. Obviously the more factual and truthful the foundation of a decision was the better the outcome.
