Wed, 17 March 2021
Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.
After you’ve had an introduction and talked with the investor either in person or on the phone, it’s important to follow up with the investor to answer questions, update about progress, and walk through diligence.
Investors are not interested in spending time to hear about your forecast, they are looking for updates about your progress with sales, team, product, and fundraise. In short, the things you are in control of and not the things over which you have no control such as market growth and competitor actions.
You need to have a growth story and your calls need to update the investor on those points.
Investors only know what you tell them. If you don’t mention key progress, then it doesn’t exist in the minds of the investors.
If the investor is not responsive to your emails, then try texting and calling them. When you call and they say they are not available, then ask for a better time to talk.
Not all investors hang out on email. Some only check it once or twice a day.
Investors have many other things on their plate and your email may not get top priority every time.
When asking for a call make sure you’re bringing new information about the business, especially information the investor asked about such as revenue, team, board, product, etc.
Before you end a call with an investor, set up the next call (say one week later). Put it on the calendar with an invite. This avoids the chase around in contacting them.
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