Thursday, June 12, 2014

Gaining the RIGHT Investor

Someone wrote into the blog asking how they should develop an investment sheet. When I asked what this person meant by “investment sheet”, he replied stating it was a static sheet that had all his facts and figures on it but where he could change the name of the investor being pitched. First, this is a horrible idea. We all know when someone is handing us a stock letter with a customized name on it. I obtain mail and SPAM like this daily. Don’t ever template out your investment pitches.

All this said, I want to offer my readers a few tips on how to obtain the right investor- not just any investor. Relationships are key in business, especially when the involve money. You want your investor to understand investment options and percentages as much as they understand the concept of your company.

Always present multiple investment options upfront. This way, you don’t have the option of receiving an across the board no. This also helps invite the right investor to counteract with different options for you to consider and it opens up a dialogue, thus building a relationship. Once a relationship is built, it is harder for the investor to say ‘no’ and not select one of the options on the table.

There is nothing template about asking for money. Sure, facts and figures need to be included in a presentation, but they shouldn’t be the main force behind the presentation.

Until next time,

Twyla N. Garrett

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