When it comes to IP roadshows, everybody rehearses I mean, absolutely everybody rehearses, but people rehearse in different ways. Here's what most people do. They spend all their time looking at the slide deck going over and making changes, talking to lawyers going over it going over it. And their first rehearsal is when they're in that first city, giving an actual presentation in front of actual investors. And the first three cities, the first nine or 10 presentations they give, are kind of rough. They're not that great.
They're rough around the edges. And that's their rehearsal. They're actually rehearsing in front of real investors. That's what most people do. And I'm telling you, that's the worst possible way of doing it. How do you feel if someone sends you a resume or a cover letter and has typos?
And they figured, well, you know, I'm going to write to 50 other companies. So if I've got typos in the first 10 letters, or read is amazing. What does it matter? There's another vital the key would form a good impression of that person that job applicant, you certainly wouldn't hire that job applicant. Now that's essentially the attitude many CEOs and CFOs have when they're going on their roadshow. I want to beg you to take a different approach and that is I want you to practice your entire roadshow presentation, the CEO, CFO, anyone else's speaking, and questions I want you to practice on video.
You don't have to hire a big expensive fancy crew. Somebody can sit in the back of the room practice with a cell phone as long as you can see the video and hear it or a webcam or iPad. But you need to actually see the presentation as it is experienced by the investors. It's not simply the deck if it were the deck, you'd stay in your headquarters. Continue going about your normal work running the business and you were just emailed the deck to people. That's not a presentation the deck, the presentation is you actually speaking.
So I want to beg you, I urge you, practice your entire roadshow presentation on video and critique it. I'm not so worried about the occasional. Or I'm more worried about this interesting. Someone understand your business after watching it. So I need you to critique your own video, and have your whole team do it too. I want to know, what do we like, style and substance?
What do we not like style and substance? And certainly if there's something you're saying that is illegal or going to get you into trouble or to any forward looking statements. Let's note that now if you say something stupid in a video rehearsal, there's no damage. You haven't released it to the public. So let's do it. This is critically important few people do it, but it's critically important.
Practice the speech on video, review it, have everyone on your team review it. I'm not just looking for what you don't like or what the flaws are. I want to know what is working. What do you like, let's be fair and focus on strengths and weaknesses. do that now.