Let's Talk Business Newmark-J Zoom Discussion July 8, 2020

2:58PM Jul 8, 2020

Speakers:

Jeremy Caplan

Jenny 8 Lee

Keywords:

I think it helps to understand that money is made in probably like different ways and, and to understand the personality and skills that need to go into that so you know one thing that I mean if I were to break in, like, or make an analogy into like fundraising for like a non profit. You know one bucket is like small donors like people are getting like like $5 $100 or whatnot. And those are most analogous in shirt like a consumer ish business that it's very mathematical very like driven like a B testing like very rich like lists and an email. Just for like, kind of, it's a very technical kind of mindset to do that. And then you have kind of what I would call sort of like a biz dev like sales perspective to those are a deals or the thousands or 10s of thousands, maybe even hundreds of thousands and those are much more. I would say like collaborative and there's also sort of like a hunting kind of mentality to it like you're you're you're often like waiting and looking and like setting, you know, setting things out, you know, in order for one of those deals to come, you know, to to their fruition and like a sponsor if

you're talking about a sponsor for example, kind of things,

yeah sponsors in journalism are going to be sponsors, or in the case of, in the case of, like, advertising, it could be someone who's doing who's going to buy like the back page of your, you know, of the magazine for like a very very long time, those tend to be very, you know more relationship driven, it's not, it's not like kind of off the shelf so you have to have conversations we have to understand the timeline, like, three to six months, sometimes more. And that would be sort of like a major like a major donor type of situation in the nonprofit and then the sort of the very, very large things, which is what I, you know, like in fundraising would be like dealing with the foundation that would be the moment like an enterprise sale. That makes sense. And those are like very heavy lifting. Lots of legal lots of paper, lots of back and forth lots of bureaucracy, kind of going up and down the chain, and just understanding that the skill sets and patients are different, and in, not all those kinds of knowledge. It would be very surprising for someone to do all of those well, interesting, if that makes sense. So, I think, sort of understanding the mentality, maybe even to a degree like what skillset, are you kind of designed for like, I realized that I'm, I am not a need, I'm you know, not a b2c person, generally like I can't do the relentless. I know, you know, very mathematical very kind of you know, adding and subtracting new catching cohorts and and kind of seeing the churn is all about that tends to be more of a sometimes escalus presence with family I'm probably more in that kind of bucket into a lot of the things that we end up doing like a b2b play as a recipe.