Imagine you’ve landed an investor. They are excited to be part of your journey and you are over the top to have someone believe in you so much they’re willing to knowing their money for you. It’s a big deal. This is a different kind of working relationship from what you have with your employer or partners - and like so it should be treated.
Often we hear of entrepreneurs working with an investor for a project, succeed and when the money is split, it’s a wrap. We would recommend that you did it differently and here’s how:
- Break the ice
If you are going to ‘co-parent’ your business with someone, you need to relate like humans and not parts of a robot that need to move together for it to work.
Breathe a little. Crack a bad joke here and there. Strive for a professional yet interpersonal relationship.
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You will both open up more to one another and you both have so much the other could learn from. That’s not going to happen with a brick wall behind you two.
- Look for them
Besides the scheduled meetings and reporting, look for them. Seek their advice all through.
They hold lots of experience in entrepreneurship; or better still, in your category and they won’t just choke it up until you ask for it.
- Show your appreciation
A grateful heart receives tenfold what was initially intended.
An investor is human and your appreciation will make them want to give you more and open up to you even further. Keep a grateful heart and watch what happens.
- Willingness to learn
Your investor has so much more than money to offer you and you need to show cognizance of that.
Show your willingness to learn their insights and how to apply them. Allow yourself to be mentored and strike two birds with a single stone.
- Be honest
As is with any other relationship. Honesty is key. Admit when you mess up, or don’t know something, or even if you don’t believe in something.
Nothing is ever resolved between two or more parties in silence.
- The long haul
Say you’re nearing the end of your contract. Who’s to say your investor has lost relevance.
Work towards building a relationship for the long haul. You never know who you dropped off in the past that you’ll need in the future.