Tue, 21 September 2021
Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.
There’s an old saying in the angel world:
If you want money, ask for advice. If you want advice, ask for money.
In raising funding, most founders spend their time selling the idea to the investor.
An alternative approach is to collaborate with the investor.
The selling approach uses the entire ten-minute pitch talking about all the great points in the deal.
The collaborative approach saves half the time to ask questions.
This approach turns your meeting into a strategy session and engages the investors to collaborate on how better to run the business.
After setting the stage with a short introduction of the business, follow up with questions to engage the investors on sales strategy, marketing strategy, and product strategy.
The collaborative approach is far more engaging than the pitch approach.
It makes everyone in the room a peer and gives everyone a chance to contribute.
This approach helps the startup learn from the investor engagement.
Lyndon B. Johnson once said, “You’re not learning when you’re talking.”
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