Wed, 13 May 2020
Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.
So many entrepreneurs think the most important moment in the investor engagement is the pitch.
In fact, the pitch is the second most important.
The most important moment is the follow-up after the pitch.
The pitch establishes the relationship and sets the context. It’s a foundation upon which you now must build the case for funding your startup.
The follow-up both in emails and in person should demonstrate how you have a great business and how it’s moving forward.
Investors don’t know how your business is progressing unless you tell them.
The rule of startup fundraising is, “if you don’t tell them -- it didn’t happen”, at least not in the investor’s mind.
At the end of your pitch ask the investor about the best way to keep them up-to-date on your progress.
Is it a monthly email? Is it a coffee or is it a phone call?
And whatever method you choose, make sure you keep at it.
It takes seven touches to close a sale -- so it takes seven touches to close an investor.
Direct download: EG_Jan_2020_Startup_Funding_Espresso_--_The_Importance_of_Followup.mp3
Category: -- posted at: 6:49am CDT