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.
Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.
Let’s go startup something today.
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Copyright (c) 2020, Hall Martin and investorconnect.org. All rights reserved.
Hall T Martin is the director of Investor Connect, which is a 501(c)(3) nonprofit dedicated to the education of investors for early-stage funding. All opinions expressed by Hall and podcast guests are solely their own opinions and do not reflect the opinion of Investor Connect. This podcast is for informational purposes only and should not be relied upon for the basis of investment decisions.