Lesson 3: Provide effective feedback (3.17)
Here's what I noticed
Miranda and Will are managing directors at Davis and Brown. They are collaborating on an important deal. Watch them meet with their client, and the feedback conversation that follows.
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[MUSICAL CHORD] WILL: OK. Let's move on to the--
MIRANDA: [INAUDIBLE]
SPEAKER: Hang on. I missed that point. What's the valuation?
MIRANDA: Six times--
WILL: It's on page eight. Excuse me. Miranda's right, of course.
SPEAKER: Well that's promising. Sorry. Didn't mean to interrupt your presentation.
MIRANDA: No problem. If you flip to page eight, I'd be happy to go over the analysis in detail.
WILL: Actually, let's take a step back for a minute, if it's OK with you, Miranda. I'd like to point out a few market predictors and how our analysis shows they can positively impact valuation.
MIRANDA: Of course.
WILL: OK. Great. I think it's on page 10?
MIRANDA: Six.
WILL: Right. Six.
MIRANDA: Will? You got a minute to debrief the Graystone meeting?
WILL: Sure. A good meeting.
MIRANDA: It was great to get to the next step. Getting in front of the board is key.
WILL: Agreed.
MIRANDA: So a few things came up during the meeting that I'd like to discuss. Can I be frank?
WILL: Always.
MIRANDA: Well, there were a few awkward moments that I'd like to avoid when we meet with the board.
WILL: Really? I didn't feel that way at all.
MIRANDA: Here's what I noticed. There were a few times when we were talking over each other. For example, do you remember when he asked about valuation?
WILL: Yeah. We talked over each other a little, but we smoothed it over.
MIRANDA: What worries me is it gives the client the impression that we're not on the same page. Do you want me to take a step back?
MIRANDA: No, not necessarily. I'd just like to think about some ways we can coordinate our efforts before and during meetings.
WILL: It makes sense. I mean, we're all slammed for time, but this sounds like an investment.
MIRANDA: That's how I see it. So one of my ideas is to make an explicit decision about who's leading the discussion.
WILL: Sure. That's a good idea. But I won't want to be too rigid. Maybe another approach is split up the deck. You talk some slides, and I'll talk the others.
MIRANDA: I'm good with that. But I do want a strong lead.
WILL: Of course. Of course.
[MUSICAL CHORD]