How to Get an Investor to Even Listen to Your Business Idea
In past posts, we’ve covered how to write a business plan and even how to pitch a professional investor such as a venture capitalist. However, there is a missing step between those two activities, which an Ecopreneurist reader wrote in to ask about, and that is: How do you even get an investor to return your call (or email)?
Although this answer is an over-simplification, I’ll recommend to you: Personal Contact.
A few days ago, a venture capitalist told me that he, with the other three partners in his firm, look at 1100 companies a year. These people have a lot of other things to do as well, such as attending board meetings of portfolio companies, conducting detailed due diligence for the few firms they choose to seriously consider for investment, speaking on panels at conferences, etc.
If you send an email to someone who gets hundreds of emails a day, you really need to stand out. Ideally, your subject line would say, “Referral from X.”
Making it Personal
Keep in mind that investors in early-staged companies are investing in people. Before it is really up and running, a Company doesn’t have much value. Ideas are a dime a dozen.
The value is built by executing on a vision and creating a brand, a customer base, a strong team, revenue streams, etc. It is as important to be seen as a trustworthy, capable person as it is to have your business idea be judged as sound.
You’ll have a higher rate of responses from potential investors, if you make use of introductions.
