Would you believe that out of the 30+ companies I’ve invested in, only 6 of them send me consistent updates?!?
Crazy, right?
Sure I already have some “skin” in the game…
… but if you want my heart and my mind, you need to keep me hooked on the journey.
Exclusive Training: Download an in-depth training webinar that goes over my complete step-by-step fundraising process.
But this really comes as no surprise.
Most entrepreneurs fail big time when it comes to keeping their investors in the loop.
Why?
There’s likely a bunch of reasons… but the biggest in my experience is that they don’t know what to include, or even how often to communicate.
The truth is, many entrepreneurs only want to share the “good news”… which might be few and far between…
… but the right way is to be consistent AND include the right information (like a to do list) that continues to keep the investor invested LONG after the cash has changed hands.
That’s what I go over in this week’s video:
Exclusive Training: Download an in-depth training webinar that goes over my complete step-by-step fundraising process.
To make it easier for you, here’s a quick guide:
– Frequency: Every 6 weeks in the early days, monthly as you progress.
– Method: Send to each investor individually (make them feel special and valued).
– Format: Get to the numbers, start with the bad news, end with the good and keep it concise.
– Action: Put them to work, ask for something specifically. Let them feel both vested and INTEGRAL to your success.
– Tip: Don’t go silent. Send anything 🙂
The cool part is, if you use my approach, your investors will love you and find new and unexpected ways to help you out.
Mark Cuban was one of my investors at Clarity.fm (no I wasn’t on Shark Tank, I was introduced through a mutual friend) and he ALWAYS replied to my updates.
Mind you, the emails were 7-10 words, but he still took the time to read them and always asked great questions or provided meaningful insights that propelled me into new and exciting directions.
Being consistent in your investor updates is the best way to ensure you’ll have their support as you grow. And remember, if you’re struggling…
… going silent only makes it worse.
If you have questions, be sure to post as a comment to the blog post and I’ll be sure to reply ASAP.
Have an incredible day!
