How do we look as an investment to investors?
		A: Take on the investor's perspective: relate what you do to your investment performance and unique investment characteristics.
	What is our positioning as an investment in the market?
		A: Most investors manage diversified portfolios: it's important to understand your positioning in the context of thousands of individual equities competing for investor attention and shareholder resources. Companies in the same industry may or may not be relevant to investors for comparison purposes. Your competitors for equity capital are likely to be different than your competitors in the marketplace.
	How do we compare to peers? What differentiates us? How do we address our strengths and weaknesses?
		A: How you compare to peers reveals fundamental differences in historical performance, management philosophy and investor perceptions. Your awareness of these differences is critical to developing a credible and compelling investment story.
	Does our shareholder base reflect our perceptions of ourselves? Where do perceptions converge or diverge?
		A: By comparing your company to peers and other market groups, you know how your firm stacks up as an investment. Your shareholder base should converge around these market-framed perceptions. Divergences may indicate either that internal perceptions are not credible, or that external perceptions are ill-conceived. In other words, the market may be trying to tell you something you don't know, or alternatively, the market might not yet "get it." Pinpointing such divergences is critical to communicating effectively and as a reality check on internal perceptions.
	How has our positioning changed over time? Has our story changed with it?
		A: Changes in your positioning are the result of both company and market developments. It's important to remember that the standards against which the market holds you are in a state of flux. A powerful story leverages changes in positioning -- your changes relative to market changes -- over time. Identifying changes in positioning will not only help you communicate more effectively, it will also help your firm respond to changing market dynamics; in other words, to become a better company.
	Why should an investor buy us?
		A: First, take the path of least resistance. The nearer your firm's investment characteristics are to the heart of the investor's portfolio, the more likely your success. Many stocks are bought and sold on the basis of their fundamental investment characteristics such as yield, safety, stability, track record, valuation, size, etc. Sometimes, the only thing missing is a meeting with management to inspire confidence and action. Second, understand that your current stock price reflects all that is "known" about your company. Therefore, knowing that you have a limited amount of time to get your story across, focus on what may not be well understood about your company -- how the pieces come together to create value. Focus on your assumptions about the future -- your model -- and why the investor should accept your assumptions over others.
	What are our objectives? If we achieve them, what will happen to our stock price?
		A: Rule #2 in The Seven Habits of Highly Effective People by Steven Covey is "Start with the end in mind." The "end" in this case is your stock price. And even in a market characterized by seemingly whimsical valuations, your stock price performance is manageable. But first, your corporate objectives must be aligned with shareholder interests. While that may sound obvious, many senior executives continue to be compensated based on objectives that are not tightly tied to shareholder value. Similarly, many companies communicate objectives to investors that are not clearly related to wealth creation, or else inhibit management from making decisions that yield superior shareholder returns. Your goals should also be concrete and realistic. Concrete so that you and everyone else know when you achieve them. Realistic so as not to set oneself up for failure. What's realistic? Your positioning, valuation and historical performance provide indispensable clues.
	Are we a good value?
		A: If you think you're "undervalued" you're in good company. Many companies believe they are undervalued because when they score low on some market multiple such as the price-earnings multiple. Most market multiples, however, do a poor job of accounting for long-term growth expectations and risk -- two critical determinants of share price. Shareholders care more about risk and return than market multiples. Whether you have a high multiple or a low multiple, investors are always interested in what your company is doing to create value. If you have a low multiple, focus on why that might be, what has to change and when for the situation to reverse, and what the outcome might be when the situation reverses. If you have high multiple, you may still be a good value if your company's performance can be enhanced or sustained beyond investor expectations. In either case, give investors what they need to know to believe what you believe.
	Is a growth story credible?
		A: Sustainable growth requires sustainable -- and profitable -- investment. A track record of growth and/or improving operating margins are generally desirable, but may not be sufficient to lend your growth story credibility if return on investment is marginal or declining. In addition, you should evaluate the consistency of your growth story with your investment and financial policies, and address what are or what investors may perceive to be inconsistencies. To evaluate the credibility of your growth story, check your positioning relative to peers and key groups: your investment characteristics, and the perceptions of investors. If your evaluation suggests that you don't have a growth story, don't despair. It may be easier to improve performance than grow, and to have a positive affect on your stock price by communicating these intentions to investors. Growth can be a double-edged sword: unprofitable growth destroys value. On a related note, in crafting your story do not feel you must appeal to a particular segment of the market. Let the economic and strategic realities of your company be your overarching guide. Because investors are as diverse as companies, a receptive audience exists for each well-crafted and communicated story. Your IRagent will help you find the right audience for you.
	Do we have a good track record?
		A: A good track record is a function of 1) setting goals that are consistent with wealth creation and 2) achieving them. Companies that manage to do this typically deliver superior shareholder returns over reasonable periods -- the ultimate yardstick by which investors assess performance. Factors outside of management's control, however, may influence the prices of industry sectors or classes of stocks over extended periods. During such times, isolating performance that is within management's sphere of influence may enhance investors' assessment of the job management is doing. Identifying exogenous factors also helps investors assess whether they think the existing environment is likely to persist or improve. Investors understand that in the short run capital is fixed and management must play the cards it is dealt. Of course, investors hold management accountable for capital and strategic decisions that set the stage for future prosperity (can you imagine a world where they didn't?). Therefore, in the long run, management must be prepared to achieve superior returns relative to the market, return capital to shareholders, or bear the consequences.
	How do we look as an investment to investors?
	Are there alternative reference points or analogies we can use?
	Are we a good value? Compared to what?
	What should our objectives be, and how do we assess our performance?
	Big and ugly?
	Diversified?
	Small? No volume?
	Complicated?
	Black eye?
	High valuation? Recent stock price run-up?
	Where do I get the information I need?
	How do I avoid spending the whole day making charts?