Being attentive to your deal log is the key to success on Axial. Your deal log is where deals that match your Campaign’s investment criteria will live, and thus where you will find the most relevant opportunities:
Follow these best practices to ensure your responsiveness score stays high and your reputation on Axial remains unscathed:
- The most successful firms on Axial carve out 15-30 minutes a week to review any new opportunities. Consider doing the same by appointing someone on your team to be responsible for timely communication.
- Your responsiveness score is a reflection of how often and how quickly you respond to new opportunities and messages. Keep your responsiveness score high by responding within 24-48 hours of receiving a deal.
- Responding to a deal can mean pursuing or declining. Even if it’s not a good fit, take an action to make everyone’s process more efficient. Whether you pursue or decline, always send a brief message to keep the door open to future opportunities.
- As a reminder, a pursuit is simply a lightweight indication of interest. It is not binding nor a commitment, just a way to let the seller know you’re interested.
- If you notice that you’re seeing deals that aren’t quite a fit, take a moment to update your campaigns. Add any keywords to include or exclude certain words, or adjust your EBITDA range to broaden or tighten the size of the deals you’re receiving.
Following these steps to manage your deals awaiting review is the most impactful way to keep relevant deals coming your way and to bring you one step closer to closing a deal.