corporate storytelling

Corporate Storytelling: The Art of Controlling the Narrative

In the age of pervasive media and information overload, it’s more important now than perhaps ever before to have ace communicators on your side. When it comes to rising above the noise, creative communications is a distinct advantage. Given all of this, the emergence of corporate storytelling should be unsurprising.

And yet relatively few companies naturally embrace storytelling as the powerful communications tool it clearly is. There is a good reason that human beings throughout history have used stories to explain concepts, pass down information, and yes, entertain themselves.

Story is the paint that brings words (and numbers) to life.

While marketers have been employing corporate storytelling to engage with consumers and develop brand narratives for decades, it’s time to expand the discussion beyond the marketing department. All of an organization’s stakeholders: customers, employees, vendors, investors, partners, and competitors tell some part of the story.

It’s clear that your organization’s value is more than just numbers and the right narrative can convey this. But the challenge is to get all of these stakeholders on the same page and communicating the story that you want to tell.

So where should you start and what are key elements to consider as you construct the right narrative?

Start with what you like in a good story.

Think about the last great book or article you read. Or think about the last great movie or TV show you watched. It could be fiction or nonfiction. What made it so compelling? What kept you reading or binge watching? Why did you feel invested?

For me, there are three main elements to a captivating story: a compelling, yet relatable plot; intriguing characters with interesting backstories of their own; and a bit of a risk…that element of the unknown that keeps me flipping pages. Of course, the real art of storytelling is in how masterfully the writer weaves these elements together.

Obviously, there are huge differences between writing the “Great American Novel” and compiling your company’s annual report. Still, just as you are invested in reading your favorite book, you want all of your stakeholders to be invested (some literally) in the success of your company. Keep in mind that every communication with stakeholders is an opportunity to strengthen the connection.

How to apply these elements to corporate storytelling:

Compelling and relatable plot: This is the big one. Ask yourself and your team: What is the most compelling storyline for your organization? Hint: it’s more than your earnings per share, sales growth, or funds raised. It’s what makes your organization different from the one next door.

This is your “hook.” Start with your company’s vision for the future. Add in your corporate strategy. Then layer in some key metrics and milestones to help your investor follow along and you’re well on your way.

Considering that you are asking investors to trade on future value, it should feel natural to talk in these terms. But the biggest benefit to building in a compelling plot is that it forces you take a step back from the minutiae and put the data in more relatable terms.

Intriguing Characters: This is possibly the most important element of any story and your corporate story is no exception. Our cast of characters starts with our leading men and women—C-suite execs. But just as important is the supporting cast, who add depth and diverse voices to the mix.

It’s important to have your C-suite front and center, as the face of the company. They are the personification of your organization’s credibility and commitment to shareholders, customers and employees.

But consider highlighting (with appropriate training!) other key employees (e.g., CTO, Cybersecurity Team Lead, key salespeople). Whenever possible give those with the talent and interest a platform to demonstrate the depth of your “bench” using thought leadership pieces, investor days, industry events, or special webinars.

Finally, don’t forget to give your competition a role to play. But remember that they don’t have to play the villain! In fact, it’s safer not to peg them in that role. While angel investors won’t usually invest in competing companies, with public companies it’s common for shareholders to invest in several stocks in the same industry for diversification.

Risk/Element of the Unknown: This element is the trickiest one for corporate storytelling. Suffice it to say, if your company’s narrative arc resembles the plot of Get Out (no spoilers!) in any way, it’s time to revise. Save the suspense.

Still, stories can help people cope with change. If your organization happens to be in a transitional phase, a credible and accurate story can put things in perspective. Fear of the unknown can be worse than reality. So, a coherent story can infuse a level of calm into an otherwise seemingly chaotic situation.

During these periods of unknown risk and an uncertain future, it’s important to return to the fundamentals. If one of your organization’s values is protecting the environment, but when the chips are down, you are perceived as sacrificing green initiatives in favor of larger profits, that hurts your credibility.

If you hire veterans and support military families, but your CEO has proposed cuts to corporate programs that benefit these groups, investors will notice the inconsistency in your storyline. Again, everything depends on finding the right story and getting all the key stakeholders onboard.

Corporate storytelling is a powerful tool for increasing understanding, credibility and the all-important trust factor. The more intangible values that can’t be neatly plotted on a histogram or represented by a formula in a spreadsheet are part of your story.

Everyone loves a great story and your corporation has a great story to tell. Audacia Strategies would be honored to help you develop your corporate narrative. Contact us today and let’s put pen to paper.

Photo credit: rawpixel / 123RF Stock Photo

crisis management

5 Steps to Crisis Management and Surviving the Trump Effect

In the weeks leading up to the US presidential election last year, there was a lot of speculation about how the stock market would react. Uncertainty does not inspire confidence among investors. That speculation sparked discussion among those of us in corporate communications and investor relations about maintaining situational awareness and crisis management.

Now here we are almost a month into the Trump presidency and there is still a great deal of uncertainty in the air. Regardless of your politics, questions remain. How will Trump’s policies influence stocks, bond markets, commodities, the flow of trade, and economies around the world? Will the intelligence community and the administration find a way to cooperate? How will all of this effect global perceptions of risk and market uncertainty?

Perhaps most important for communicators is that the President has singled out individual corporations and executives via social media and in his public statements. Consider some recent headlines:

When the President speaks—and tweets—markets listen. How can firms manage their reputation (and associated stock volatility) in an era of 3:00 a.m. Twitter-storms?

1. Have a clear story. Test your story.

First, make sure you have a clear corporate narrative already in place. Your narrative should reflect your company’s strategy and decision-making criteria. That is, your words and your actions should align and convey credibility. This is true whether communicating to Wall Street, Main Street or Capitol Hill. When a crisis strikes, credibility can be the determining factor in successfully weathering the storm.

Test your narrative via with a broad team. I recommend having at a minimum investor relations, communications, legal, government relations, operations, and sales at the table. The goal is to have as many perspectives as possible around the table to put your messaging through its paces. If your budget allows for including an unbiased third-party, that perspective can be incredibly helpful to get the group out of its conventional thinking.

During this session, poke all the holes in your message; ask all the uncomfortable questions; ask irrational questions. Nothing is out of bounds. Then, development a plan for countering each line of attack.

Develop holding statements (which deserve an entire post of their own). Consider what you will want to say to investors, the media, and your internal team. Your messages should be concise, accurate, and informative. Test your potential responses if possible.

2. Have a crisis management plan.

Make sure that you have a solid plan in place for dealing with a crisis when it happens. Have a crisis team in place and make sure its participants meet regularly. Have a system in place for notifying stakeholders.

At one time, our only option for a notification system was a “phone tree” and team of callers. Today’s technology makes triggering a crisis management plan as simple as sending a single email, text message or making a single phone call.

Here, it’s a good idea to consider using multiple communications channels and establishing preferences ahead of a crisis situation. Some constantly check email, others are more likely to receive a text message or a tweet. So ensure that information is prepared for a variety of communication channels.

Have an answer to the following questions:

  • How will you notify your team that you are in crisis mode?
  • How will you disseminate information as it becomes available?
  • Who is responsible for putting the plan in motion and seeing it through?

3. Define team member roles.

Be sure crisis management roles are well-defined and documented. Ensure that all team members understand their roles, responsibilities and interdependencies. It’s crucial for everyone to be on the same page and operating efficiently.

Do what you can to prevent untrained representatives from speaking with the media. And make sure that, like a well-tuned orchestra, your whole team understands their specific function.

4. Talk to your board of directors.

Before a crisis hits, discuss with your board of directors the crisis management plan you have put into place. Explain the details of your plan: how you arrived at the strategy, what protocols you are following, your team’s special expertise, etc.

Assure your board that you are preparing for all contingencies. Ask for their input. Often Board Members have been through challenging situations and will have good suggestions that may add perspective to your plan.

Perhaps most important, reassure your Board that all strategic moves will be made with transparency and in accordance with the processes outlined in the crisis plan.

5. Talk to your c-suite.

Engage your c-suite executives early on. Ideally, they should be visible champions of the planning process.

Make sure that your executives are strategically aligned and prepared in the face of a crisis as well. There’s little worse than watching your executive get caught off guard by a question from the media. So train your executives in crisis communications.

Even if your CEO has done an admirable job as the spokesperson for your corporation, there’s a critical difference between promoting a company in good times and preserving a company in bad times.

Dealing with a market crisis is one of the toughest scenarios that organizations face, but if you maintain a clear plan, you will be ready to face the crisis head on. Our team at Audacia Strategies has firsthand experience in crisis management and dealing with some of the most sensitive crisis areas that corporations must oversee.

Are you ready to develop your crisis communications strategy and in need of someone to help you steer through? Contact us to schedule your consultation.

 

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annual reports

Boring No More! Turn Your Annual Reports into Your Best Asset

Annual reports are a company’s most-requested and most-read communications but they have a bad reputation for being dry and boooring. They can be full of jargon and legal speak. But while the proxy rules require all publicly traded companies file annual reports with the SEC, they do not require the information be delivered in the same sleepy fashion year after year.

I have been thinking a lot of about how to better leverage the annual report as a vehicle to share the vision, strategy and culture of a firm. Of course, I turned to corporate reporting expert, Barbara Koontz, Senior VP of Customer Experience, at Curran & Connors, who is a veritable wizard when it comes to helping companies design annual reports that stakeholders actually want to read.*

Because I have learned so much from Barbara myself, I asked her to share some of her insights with you. And she graciously agreed to answer my questions here (edited for length).

Q. Annual reports can be a strong tool to communicate past results, as well as future vision. What do you see as best practices to help the annual report tell an organization’s story?

A. There are several steps that a company can take here to convey its unique vision and values:

1. Use the CEO letter to your advantage: The opening letter to shareholders is still the most widely read section of the annual report. Companies use it to communicate vision, strategy, values, and thought leadership. The letter often focuses attention on recent initiatives that helped achieve corporate goals. Easy-to-read graphics or pull quotes ensure accomplishments stand out. The letter also is an opportunity to reinforce long-term, future goals and demonstrate industry standing.

2. Use video to convey personality: For online annual reports, the use of video is becoming more prevalent. A well-produced, short video is a great complement to the letter and conveys a CEO’s excitement and passion. To increase effectiveness and maximize return on investment, report videos are often directed to all stakeholders so they can also be used for other marketing endeavors.

3. Relate company performance to market trends: In general, it is important to balance company activities against 5 to 10 year market trends. This helps to justify investment in those key growth areas.

Q. Do you see organizations changing their approach to the annual report to express their corporate culture?

A. One of the biggest changes and most successful ways I see companies reflecting their culture is by showcasing employees. Companies incorporate stories, case studies, and photography that emphasizes the efforts of staff in helping the organization realize corporate goals.

We see video playing a key role here as well. A compelling video celebrating the passion and success of staff shows that the company values the contributions of its people, which in turn, results in employees wanting to work harder for their employer.

What may seem like a minor detail at first, the photo of the CEO, also can say a lot about the company’s culture. A suit says “traditional” “established,” and “leader,” while a shirt and slacks says “approachable,” “entrepreneurial,” and “partner.”

Q. Many different stakeholders use an organization’s annual report (investors/donors, media, regulators, customers). What advice do you give to companies to help them make their annual report accessible across multiple stakeholder sets?

A. It is important to design and develop content with all audiences in mind, as well as other communications vehicles that may be used to repurpose and more widely distribute elements from the annual report. When Curran & Connors develops a reporting solution, we consider the different ways the report or aspects of the report will be used as well as the target audiences.

Having said that, no document or reporting vehicle can be all things to all people. So, understanding your primary audience is important. Let’s say the main audience is the institutional investor. In this case, the report should be designed to ensure transparency and clearly communicate data, results, and a pathway to success.

Potential business partners, employees, and community members will also be interested in these metrics, but to effectively reach those groups the information may need to be presented differently. So, you will want to make the information more reader-friendly by applying relevant techniques such as infographics.

In addition, making the information available online is a sure way to make it more accessible to a larger audience. The content can connect to and be connected from a number of digital channels.

Q. An annual report can be a significant expense for many organizations, how do you recommend that companies increase their ROI and extend the reach of their annual reports beyond posting online and sending to shareholders/donors?

A. The two best ways to leverage the investment of your annual report are:

1. Think of the annual report as your “financial brand” for the year: Repurpose the look and feel into other communications documents such as fact sheets, the proxy, quarterly reports, the investor deck, and the IR website. This increases the value of the report and shows a professional and consistent approach to your overall communications.

2. Design the annual report to be easily segmented: Design the annual report in such a way that the segments of the book or online reporting vehicle can be shared via other marketing channels, such as social media. A unique graphic, custom photo or video, and/or case study that ideally conveys a key value driver can satisfy the never ending need for content for your social platform.

Q. As you look ahead, what are you most excited about for the future of annual reports?

A. Annual reports are one of the few documents that tell a company’s overarching story. What’s exciting is how these stories evolve to tell much more than how to reach a targeted bottom line. There is significant interest, for example, in learning about a company’s environmental, social, and governance (ESG) practices and how these impact the sustainability of the business.

Millennials are driving companies to be more involved in their communities and to report on these activities. Social media is forcing companies to be more transparent and have more conversations than monologues. Leaders of companies are taking more of an interest in the narrative too, which leads to more engagement across all platforms. As stories evolve, so do their formats.

Thanks for these words of wisdom, Barbara!

As you prepare your company’s 2017 annual report, rather than looking at it as just another federally mandated hoop to jump through, why not seize the opportunity to turn your annual report into a valuable messaging tool?

Audacia Strategies can guide you through creating a comprehensive communications strategy… including annual report messaging! Let’s talk!

*NOTE: This is not a sponsored post. I just happen to think that Barbara has great perspective on this topic!

 

Photo credit: andreypopov / 123RF Stock Photo

corporate communications

In Corporate Communications, Timing is Everything

You might be surprised to hear that corporate communications and standup comedy have something in common—timing is key. Whether you are announcing a corporate merger or delivering a killer punchline, if your timing is off, your message will fall flat.

When corporations have a big announcement to make, a lot of time and energy goes into figuring out precisely how to state the message. What should the press release say or what language should the CEO use when discussing changes with investors?

While it’s certainly important to get the messaging right, keep in mind too that good corporate communication has less to do with what you say, than how you say it.

Let’s consider some important questions to ask when dropping big announcements.

 1. Is your announcement subject to regulatory restrictions?

First, you must consider the federal regulatory rules of your industry. There are most likely rules regarding what you can communicate, to whom, when, and how. So make sure you brush up on the SEC disclosure requirements and corporate communications law relevant to your industry.

Example: Material Announcements

Speaking of regulatory restrictions, Regulation Fair Disclosure (Reg FD) requires all publicly traded companies to release material information to all investors at the same time.

This hasn’t always been the case. In the 1990’s, financial services companies routinely held conference calls with market analysts and some institutional investors giving them in-depth information about the company. Recognizing that this gave institutional investors an unfair advantage over individual investors, the SEC ratified Regulation Fair Disclosure (Reg FD) in 1999.

As a result, companies are required to simultaneously make material announcements to all shareholders. Ideally, leadership would communicate the changes during a scheduled conference call with investors or town hall meeting.

However, if word of a material event or material information is inadvertently leaked to some investors or analysts (i.e., an “unintentional selective disclosure”), as soon as a senior company official learns of the disclosure, she is required to disclose the information publicly. Companies must make the announcement either (a) within 24 hours or (b) by the start of the next day’s trading on the New York Stock Exchange.

2. What are your competitors doing?

How much of a splash your announcement makes, at least partially depends on the behavior of your competition. If you have good news to share, you want to capture as much attention as possible. With bad news, you want to be as transparent and complete as possible in your initial communications to avoid continually referencing the issue and detracting from your broader corporate strategy.

Example: Product Launch

Let’s say you are ready to roll out a new product that will take your industry by storm. Sure, you are excited about the product. But if you rush to make the announcement without a strategy, you risk being overshadowed.

For example, if you know your competition always releases new products on the Tuesday before Christmas, it might seem that you could steal their thunder by announcing on the same day. But you also risk having to share the spotlight with a close competitor. And unless you are confident that your corporate communications team can outshine your competitor, it’s probably best to steer clear of this kind of shouting match.

While there’s no crystal ball to predict what opportunities are on the horizon, waiting a bit before releasing big news can pay off.

3. Does your corporate communications policy respect your staff?

Some announcements affect your internal staff more than shareholders or the general public. For instance, corporate reorganization could mean layoffs for staff members, while individual shareholders see a moderate increase in their returns.

Example: Corporate Restructuring

When making an announcement like a corporate restructuring, it’s important not to take your staff for granted. Relationships internal to your company are as important, or even more important, than external partnerships.

So, put as much thought into announcing corporate restructuring as you would into announcing a corporate acquisition. Just as you wouldn’t want investors to hear through the grapevine about a planned restructuring, you wouldn’t want your staff to hear about potential layoffs on the news.

As with any external message, be mindful of how your internal announcement will affect your audience. Don’t let emotions get in the way. If you are the head of a division, the corporate restructuring might be bad news for you as well. But when you make the announcement to your team, be considerate of their feelings in hearing the news for the first time.

Having the right overall strategy for timing corporate communications takes a blend of planning, finding the right words, and practicing authentic human engagement. At Audacia Strategies, we don’t do standup comedy, but we have helped many companies like yours find the right timing strategy for big announcements. Schedule a Free consultation to discuss your specific needs.

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Reg FD

Reg FD: How to Avoid Holiday Legal Headaches

‘Tis the season for company holiday parties. A party can be a great way to blow off steam during an especially stressful time of year in the financial world. While it’s a good idea to unwind in an informal environment, you don’t want Reg FD (Regulation Fair Disclosure) spoiling your fun.

Holiday mixers can bring together a variety of stakeholders like CEO’s, financial advisors, brokers, analysts, and investors. Add in a generous supply of alcohol and you have a recipe for failure to comply with Reg FD.

The good news is that with minimal prior planning, you can easily avoid having the SEC slap an individual or your company with an injunctive relief, such as a cease-and-desist order, monetary fine, and required disclosure of the violation.

First things first: What’s the rule?

The SEC Reg FD rule reads as follows: “Whenever an issuer, or any person acting on its behalf, discloses any material nonpublic information regarding that issuer or its securities to [certain enumerated persons], the issuer shall make public disclosure of that information… simultaneously, in the case of an intentional disclosure; and… promptly, in the case of a non-intentional disclosure.”

The key phrase here is “material nonpublic information.” Material information is anything that a reasonable shareholder would consider important for deciding whether to take some action with respect to a company’s securities.

According to the US Supreme Court, material information includes, among other examples, anything relevant to earnings, mergers, acquisitions, joint ventures or tender offers, new products, and developments regarding customers or suppliers.

That’s quite a list. Ensure that you stay off the SEC’s radar by following these rules:

1. SEC Reg FD applies to ALL company communications.

Don’t think that just because you are at a party and not on official company business, your offhand remark to a shareholder “doesn’t count” as a selective disclosure. A selective disclosure can be intentional or unintentional and Reg FD applies to all types of company communications.

For instance, a CEO’s spontaneous response to an unanticipated question posed during a dinner party with analysts present could reveal information to which all shareholders should have access. If there’s any question, put yourself in your investor’s shoes. If you could see yourself acting on the information provided, then it’s probably off limits.

Unintentional disclosures like the one above trigger an obligation on the part of the company to go public with the information within 24 hours or prior to the beginning of the next trading day. So, the best policy is always “better safe than sorry.”

2. Remind your expanded team of their responsibilities.

It’s not a bad idea this time of year to remind all employees and partners of their confidentiality agreements and other legal obligations. Send a friendly reminder email or call everyone together for a short meeting. Not knowing the law is no excuse, of course, but a lot of headaches can be avoided by taking this simple step.

Specifically, Reg FD rules apply to directors and executive officers; persons performing investor relations or public relations functions; and employees and agents who regularly communicate with securities market professionals and stakeholders. But any employee acting at the direction of senior management is also subject to the law.

3. If you have questions, consult with Finance and Legal.

What do you do if, despite your best efforts, something happens that you believe to be a violation? First, consult with Finance/Investor Relations and Legal internal to your company. The last thing you need is to intensify the problem by trying to sweep it under the rug. So, now is the time to own the problem and deal with it head on.

Your Finance and Legal departments will be able to tell you whether you need to take additional legal steps. Depending on the scope of the violation and whether it’s a fireable offense, you may also need to consult with HR.

Also, by consulting with the experts, you can avoid blowing out of proportion something that might require a simple solution. In many cases, issuing a press release or scheduling a public conference call to answer questions will bring you under compliance with the law.

In short, when it comes to Reg FD, prevention is always your best option. A lot of trouble can be avoided by simply communicating with employees and reminding them of their legal obligations. Let’s make this holiday season SEC free!

If you are looking for more great advice about corporate communications, Audacia Strategies is here for you. We can help you develop a corporate communications strategy that works for you and your whole team. Schedule your free consultation today.

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investor relations

Investor Relations Starts At Home: 3 Tips for Disclosing Q3 Earnings

This week it seems like everyone in the financial world has been obsessing over companies like Apple and Google releasing their Q3 earnings reports. For analysts, preparing to disclose earnings is one of the biggest challenges of investor relations. Wall Street has been in a holding pattern during the past 30 days. But the perceived wisdom is that if any of these big companies reveals an earnings surprise, it could be just the jolt investors need to bring them out of their malaise. I’d say the jury is still out though.

There is no doubt that quarterly earnings are a crucial measure to watch. Still, as you develop a strategy for communicating your company’s Q3 earnings to investors, consider that finding the right message is as important as the actual data you are communicating. It’s always a good idea to keep things in perspective. Since companies aren’t valued in a vacuum, having situational awareness is essential to communicating the right message to your investors.

In fact, situational awareness is so essential to investor relations that we think it deserves a three-part series of its own. So we’ll start off in this post with tips for helping you view your company from the outside in. We will follow up with posts about knowing your peers and knowing the market.

What is situational awareness and why is it key for your quarterly earnings strategy?

As you might have guessed, there are three main components to situational awareness: knowing yourself, knowing your peers, and knowing the market. Each of these components plays a role in preparing you to discuss your company’s valuation with investors. Investors want you to give them the numbers, but they also want you to help them interpret the numbers. Remember that they are looking to you as an expert on their investment.

This is especially true when it comes to disclosing earnings. Building a successful investor relations strategy is about getting into the minds of your investors. From an investor’s perspective having more information is always preferable to having less, so anything you can do to put those numbers in context will be well received.

Think of it this way. Which is more helpful for investors to know:

  • Your earnings rose 10%?
  • Or your earnings rose 10% while your closest competitor’s earnings rose 8%?

That the second one jumps out as more helpful demonstrates the power of situational awareness. Now, we’re not saying you call out your competitors’ results specifically but you definitely want to note the “industry-leading” results during your earnings call. An investor relations strategy that integrates situational awareness doesn’t simply focus on telling the story of your quarter. It also positions your company relative to how your peers performed and to how the market itself performed, giving your investors a more complete picture of your company’s performance.

So let’s talk strategy.

What does it mean to know yourself?

1. Know your company better than anyone else.

This should go without saying, but no one external to your company should understand your company better than you do. So develop your own models, craft earnings polls, and get into the minds of analysts to understand how they are really evaluating you.

Additionally, rather than making assumptions about what analysts are thinking about your company based on their research, reverse engineer the research whenever possible. Get your sell side analysts’ models and compare and contrast. If it becomes obvious to you that analysts are operating under incorrect assumptions, build some commentary into your earnings call discussion to explain any discrepancies and to give more context for their revised models.

2. Know what the analysts ask.

Examine the questions analysts asked about your company and your peers during the last quarter (or even during the last few quarters). Compare those questions to what they are asking during the current earnings season. For example, if analysts asked about the risks associated with a particular raw material three quarters ago, but haven’t asked since, this might explain discrepancies between your internal reports and the external reports you’re seeing.

Don’t simply assume the questions analysts ask are consistent from quarter to quarter. While it can be tempting to dismiss a lower than expected valuation from analysts on grounds that they don’t have the complete picture, investors will rightly hold you accountable for failing to anticipate and adjust internal models.

3. Know yourself relative to your peers.

This bleeds over into what we’ll talk about in more depth next week, but part of knowing yourself includes knowing how you will handle the release of peer earnings reports. Because many data points are more meaningful in the context of understanding industry trends, keeping tabs on your competition is key to understanding how to position yourself with investors.

For instance, in the defense industry where there has been a mostly flat business landscape for much of the past year, it makes sense for defense contractors to pull back and take a more austere approach to allocating resources. But if you know your competition is taking this approach, while your company is increasing its investment in research and development, for example, you may have a powerful discriminator that sets you apart from your peers. Well communicated and in context, a carefully considered, seemingly contrarian investment strategy could really pay off in potential valuation.

Long story short, if you aren’t keeping tabs on your competition and how they handle macro-issues facing your industry, then you are operating at a serious disadvantage. It’s a little bit like showing up to a tennis match with a ping-pong paddle. Of course, it’s important to work on your backhand, but if you haven’t studied your competition carefully, you risk underestimating them.

Stay tuned for next week’s continuation of this series on situational awareness and investor relations when we’ll discuss knowing your peers on a deeper level. In the meantime, if you would like help communicating a consistent and compelling investment story, we’re always ready to talk disclosure strategy (with as much geeky detail as you can handle, of course). No matter how well you know your company, we understand that it can be challenging to know how to frame your message and to develop the right outreach plan. Contact us today. We’ve got your back!

Photo credit: Wavebreak Media Ltd