Q. I’m simply bringing investors on for the first time. How do I work with them? How usually ought to I be in contact with them? Do they need to hear from me?
-Founder of an organization elevating a seed spherical
It’s at all times attention-grabbing to see how founders deal with new investors. Some welcome their involvement and present month-to-month updates; others don’t do a lot in the method of communication in any respect.
That’s a missed alternative. I feel that your investors need to hear from you. I do know that at Webb Investment Network, our associates really feel obliged to assist, and it’s probably that your investors really feel the similar. I imagine that when you ask when you can replace them in your progress and attain out to get to know them, it’s going to work out positively.
My advice is to examine in regularly on the belongings you care the most about—this generally is a fast e mail with some bullet factors about what’s taking place. You can even use this as a possibility to ask for assist with specifics; maybe you’re looking to make sure hires or looking for a method to open the door at a possible buyer.
A month-to-month e mail additionally offers you an opportunity to spotlight accomplishments and present gratitude. Thank the individuals who helped you obtain your objectives. Most individuals need to assist, and everybody loves to be acknowledged for his or her efforts. Additional, investors are a aggressive bunch, and after they see what others are doing they may turn into much more motivated to assist.
Subsequent, and I’m certain you understand this already: Most individuals don’t like surprises. If there’s something problematic, needless to say early warnings are appreciated. It’s at all times greatest to deal with any difficulty when it’s nonetheless small; it reduces drama and additionally makes it simpler to clear up.
Lastly, when you have mentioned a problem, at all times observe up and do a postmortem. Take the time to debrief on what occurred and weigh in on how to do higher the subsequent time.