R-E-S-P-E-C-T !
Just a little bit. Uh huh, just a little bit! 🎤 🎶
We may be old enough to remember dancing to the amazing Aretha Franklin anthem, but we are tempted to break out the lyrics on an occasional basis.
Respect, as we all know is earned. But even before we speak with a founder, we have respect for their courage and curiosity in embarking on the challenge of starting a business that will contribute to (hopefully) making the world a better place. It’s not for the faint-hearted and for that we salute you!
Having said that, respect goes both ways. Investors may have a positive initial anticipation of hearing about new ideas, innovations and great teams but this needs to be reinforced from the first engagements with founders, whether connection requests, emails or calls.
No doubt you have heard that warm leads to potential investors are the best – and they are. However, they are not always easy to find, so you will have to research and approach some of the ones you think can best help you, without an introduction. Or find a way to get a warmer introduction.
Ways to do this include:
Asking people in your network if they have friends, colleagues, acquaintances who could make an introduction
Attending meetings, business events, webinars and social events
Talking to advisors and mentors
Asking potential investors for suggestions – even ones that are not the right fit for you
Ultimately, your fundraising will be helped by having many conversations and seeking feedback actively. Do though remember a few simple good manners along the way.
Tips & tricks:
Don’t cold call an investor’s mobile phone – if you haven’t got a warm introduction, at least start with a message/email so you don’t inconvenience them
Be on time – leaving a potential investor hanging on a zoom call with no notification is not a good look!
Be appropriately dressed for the audience
Listen actively – you will always gain some useful feedback
Be courteous with all communications, the world can be a small place – do say thank you after meetings; don’t try to “hard sell”
Investors may ask for the impossible rather than give a direct no – move on
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