How does your Acquisition team organize pipeline / daily deal sizing?
Started off with just 3 of us messaging brokers so we'd either CC one another or know which team member had the connection with x team/market. We've grown with more acquisition members, so wondering how everybody else does it? Shared spreadsheet that's updated every time you message? Do you then have to check it for others every new deal that comes out? We do the typical weekly pipeline, but that's still leaves a ton of open time for double messaging etc.. Big deals or deals in the process are clearer with deal leads, but looking to hear more on that first touch of initial sizing / questioning.Thanks!
Depends on your “model.” If it’s a market coverage model you won’t need to track it if one person covers, let’s say NJ industrial. If there is overlap, excel or sales force/other CRM.
I agree here. As your team grows, it's probably unrealistic that everyone is fully aware of all the pipeline deals, but with a bigger team, you should have people covering different sectors/geographies. Let's say you're in a team of 8, surely not all 8 will work on a single deal, right? So with weekly pipeline meetings in place, this should create smaller deal teams (probably 2-3) working on each deal, and that deal team can update everyone else in the weekly meetings.
Implement a CRM for relationship management. For deal flow, have a master spreadsheet where each team member has their name on deals they are underwriting. Do a daily stand-up meeting before each day or at end of each day to review deals in the pipeline and who is working on what for the given day.
To make it simpler, look into deal management software like DealPath or Altrio
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