As you go through the process of gaining introductions, contacting investors, setting up meetings, and pitching, remember the fundamental goal is to come away with a stronger relationship with the investor. A stable relationship with the right investor can single-handedly change the course of your business.
Think about it this way: Each interaction is an opportunity for the investor to get to know more about you, but you are also getting to know more about the investor. Say the pitch didn’t go as planned, or the meeting didn’t stay on track, that’s okay. The most important thing is that you still grew the relationship.
You want to get to know the person who is investing in your company. Ideally, you want to share similar goals and interests with them. Things will go much more smoothly if you’re both on the same page.
Having a strong relationship with your investor is essential. This person is likely to be in your life for a while; they’re certainly going to be there through ups and downs, so making an effort to get to know them on a personal level is essential. These individuals generally offer incredible business astuteness and resources to help your startup succeed.
Continue reading in our most recent eGuide: How to Prepare for a Fundraise
Hall T. Martin is the founder and CEO of the TEN Capital Network. TEN Capital has been connecting startups with investors for over ten years.