Business is all about relationships, and relationships are all about building trust. But you have to start somewhere, which is where the art of networking comes in. If you meet the right investor, you get funded, or you can do business together. A simple handshake is all it takes.
Unfortunately, building relationships and networks take time. It requires immense about of trust before anyone can do business with you, or even write a cheque. And very often, you might not be meeting the investors directly, but venture capitalists or private equity professionals or other gatekeepers that help the “real money” filter opportunities and save time.
If you don’t have a systematic process to finding the right investor, or building relationships – you’re screwed. If you’re serious about raising funds, take a 20 minute peak into how I go about building relationships with investors – it’s not haphazard at all, in fact there’s a definite plan.
I used to use PipeDrive to manage my contacts, but I’ve recently switched over to Streak CRM. While the principles taught in the above session are the same – the software tool has only changed. What is more important than the tool you use, is actually using it.