Palazzo On Creating Value
For all of you out there in the business world:
You don’t need another journalist to tell you that to stand out from your competition is one of the most important things that you can do in today’s economic climate.
Yes, it’s getting better out there – especially when you compare it to the economy in 2009.
Getting the sale is important because for those who are in sales, your job depends on it. ABC – Always Be Closing, right?
What do you need to do to ensure that you are always closing a deal? Some people might feel they have to kiss up; others stroke the egos of their prospective clients.
While these things can work, I wouldn’t recommend it as a practice to be used with everyone.
Meet Phil Palazzo.
Phil has almost 30 years of experience in advertising, marketing and investment banking. He’s been a Partner and Managing Director of an M&A advisory firm focused on the marketing services industry; CEO of MC2, an event-marketing firm for corporate events, meetings, exhibits and environments; President of Ammirati Puris Lintas, where he oversaw $600 million in revenue as a member of the worldwide board; and General Manager, CFO and Partner of the renowned and highly respected Ammirati Puris advertising agency. Phil led the highly successful sale of the agency to IPG delivering a extraordinary 25:1 return on equity to shareholders.
In 2009, Phil founded PALAZZO – an M&A firm with a focus not just on closing the deal, but providing advice and making sure things are done right the first time with their clients.
With the primary emphasis being on developing relationships through an advisory role, Phil has overseen some of the industry’s highest profile transactions.
What’s Phil’s formula for success?
“It’s all about creating value.” Phil said.
“I decided at the end of 2008 and early 2009 that I wanted to go off and set this company up. I think in large part because I had a sense that there was a different and a better way to approaching investment banking for this sector. I don’t think that the timing could have been any worse given that it was arguably a horrible recession. My rationale for doing it was the belief that if we approached prospective clients to talk about helping them focus on building value as opposed to convincing them that it was time to do a transaction – that would be a really smart way to come to the market. Unlike a lot of the investment bankers that are driven to do deals, our value proposition was very different.”
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