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.Speaking slowly, Ibegan: There is a tremendous responsibility for all of us today.This is a decision not about who is the most charming or the most skilled in finance butinstead about who has the right ideas that can raise $1 billion for Davis Field.Others have tried this kind of thing before and failed, so it s not thatthe best man should win or that the best team should win, but instead, the best ideas should triumph today.This runway has served the UnitedStates of America in World War II and hosted squadrons of B-17 bombers and other fighter planes that took part in the Pacific campaigns.Today,we are not talking about building a shopping center or strip mall or motel.We are building an airport, and we are doing it on hallowed ground.Thishas to be done right.It was critical to get the frame right at the beginning.And because Goldhammer definitely would open by highlighting their size, experience, andtrack record, I had to pick a frame that minimized their strengths and focused the lens of attention on ours.This is why I chose the best idea frame.In other words, I was telling the targets that they should forget about picking a bidder with size and power.Instead, they should focus on the quality ofideas.We could not compete on size and power against the others, but if I changed the frame, if my big idea frame was stronger thanGoldhammer s, then we could still win.I d also cranked up the tension, injecting norepinephrine into their brains by saying,  This is hallowed ground. In other words, a screw-up wouldhave serious consequences.If had I hit the tone just right, then a strong frame would be in place.The next task was to reframe the competition: We are honored to be competing against two other great firms today.I know each of them could serve you well because they have large teams,multiple offices, legions of young, energetic researchers, and the best-paid analysts in the world, and when working a deal, these firms spare noexpense to tackle the job.This was my way of saying that Goldhammer and the group from London were big, bloated corporations with too many people, many of themyoung and inexperienced.With this statement, I had reframed the competition as young, overstaffed, worried about their fees, and generallyoverweight.This fit the general image that dogged Wall Street banks in the media and would be an easy idea to convey.I knew that Goldhammer sTim Chance would have to invest much of his precious time digging the company out of that frame.Chance recognized what I d just done, and it sno wonder he was scowling.Things had started well for us. Simon, the vast majority of people you have met in the last three months have told you that the market is flat and that nothing has changed forsome time.But if you start challenging the way these folks are thinking, you can start to see this market through a different lens the lens we use.Let me explain.Three market forces that we follow very carefully have formed an important market window that we can step through if we time itright.We don t think the window stays open for long, but if we do this now, we can go get $1 billion from investors faster than any other deal outthere.Here s our analysis of the way markets are moving: Social factors.Everyone is tired of investment bankers getting fat off these deals with no risk, so we have to be more transparent on fees. Economic factors.For deals that are transparent, where the bankers and consultants are willing to risk alongside investors, there s a glut ofinvestor money in the market now.$5 billion more than last quarter. Technology factors.If we go green and make the buildings LEED-certified, I know a government agency that will get us a 10 percentreduction in taxes. I know this is news to you, but this is how the market is moving, and these three forces are important to our strategy.Again, we have a shortmarket window to step through.If we fight against these forces, we will struggle.If we hit it right, though, we ll be one of the few deals that getsthrough this small market window.This was the three-market-forces pattern that I had long endorsed.Simple and straightforward.I wasn t going to start selling and promotingbefore I was done framing.That would be a mistake.By doing it this way, I would show the targets how the market was moving.This would workbecause the mind is not a camera; it is a machine dedicated to observing motion and predicting what will happen next.I continued: Before going into my plan in any detail, let me tell you what we recognized some time ago.This project is more than an airport upgrade or anairport relaunch.It is a legacy you will leave behind.You will have your names written in history, and you we will be judged by generations to comeby what you build here.I had issued a challenge to the committee.Done this way, it creates a dopamine and norepinephrine kick at the same time.In other words, theywould feel the twin pull of desire and tension [ Pobierz całość w formacie PDF ]