When/How to Build a Successful Network?
I've been networking within the healthcare ER field to try and break. However my hit rate for people to message back has been pretty low. Is there an ideal time and method to reach out to junior and senior analysts? My ultimate goal is to try and hop over to a team that I've networked with.
Also, if there are any healthcare medtech supplies and devices WSO members plz message me, would love to learn more about some best practices and things I can do to stand out.
Thanks!
LinkedIn has higher hit rate in a profession where folks are flooded by spams in their email inbox. Hit rate is not supposed to be high, especially when you don't have a typical profile. And if you had a typical profile, you probably didn't need to network.
The easiest way to improve response rate is to attach a stock write-up and a model with your initial outreach.
Thanks for the input Toad, unfortunately I've already been sending an earnings note + model combo. Furthest I've gotten is a director asking for my resume and then ghosting me. I'll keep it up. Thanks again.
It's like a start-up: you need good PRODUCT and DISTRIBUTION.
PRODUCT is based on the quality of your analysis and correctness of your modeling (obviously if you ask every start-up founder, they will say product matters)
DISTRIBUTION is how you network. Yes, it IS a number's game, but without knowing whether you have a product, we cannot assess why you are not getting higher response rate.
You need to write up a stock idea. There is no value to others to send an "earnings note". Get someone credible to bless your stock write-up and model so that your audience is impressed with your intrinsic ability (not like "ok, my analysis is their margin expanded because revenue grew faster than cost.")
Honestly this was super helpful, guess I’ve been approaching sharing my work the wrong way. Thank you Toad, always have been helpful.
Sure. I am glad to point you in the right direction.
My 2 cents, include your resume from the get-go and avoid an extra step. Keep your email short and sweet, most email templates out there are too long.
Also, getting a response is harder during earnings.
Are you currently in a seat?
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