I was stuck on a long layover that turned into a longer layover in Houston, and I pitched Oreninc to the CEO of a mid-tier oil and gas company who was sitting a row ahead of me on the plane.
After listening to me talk about Oreninc, he had four key points in response:
1. CEOs and management teams never know if bankers can perform; the whole business is based on relationships. But while the companies are ranked/judged by the market, there is no way to tell if a banker is a good banker or just a good drinking buddy.
2. The difference in fees of 20 basis points on an oil/gas deal that is $200m is as material as the difference in a $5m copper deal.
3. No one in the oil patch or any mid-tier companies collect the data we collect, but they all need it.
4. What was our value proposition…..
It’s great to be able to have data, and know that it is needed by companies, and now it is even better that we have it to the point where a CEO can see the value in less than four minutes.
I just love being able to build a lasting relationship within four minutes on a plane.