Tips to Land an Investor

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Transcript

So I'm going to show you one of my favorite websites called crunchbase comm where you can look up investors, companies, people, and it gives you lots of information. So let's say you want to look up my company, and you type it in and it'll automatically pop up. And you'll see all sorts of information, the money, we've raised a description, or social media or website. So if you click there, it'll open up a new tab. And it'll take you to our website, so you can see our new products, what we're building now. And this way you can get a feel for the company.

Okay. And you can also see press releases that were launched. Our team, all of our members, our board of directors, more more press releases from social media. So let's say that you are building a music app. So you would do some research on maybe Pandora. And you would find Pandora's information and all their social media and all their press releases, right.

But you'll also be able to see the investors who invested in Pandora Okay, so let's say we go all the way to the bottom here and we look up Larry Marcus. Okay. So Larry Marcus, if you click on his name, it'll take you to his profile here on crunchbase. Okay, you can see all sorts of information about him, all the different board seats he holds, you know, at the top here and even tells you, he's going to be presenting at the collision conference, which is coming up. And that way, if you were at the collision conference, you could actually meet him and talk to him in person about your music app. He has his website here.

He has his Twitter, his LinkedIn. So let's go to his website. And if you go to the about the contact page, it tells you that you can email them a link to your demo, and a brief snapshot of your business and team so he's accepting material from you. So give it a shot, if he's in your market. And in your case, if you're building a music app, he will be You can also maybe connect to him on LinkedIn. If you have a connection through him.

It seems like I have a second connection that he's more prone to You know, to connect with me because we both know certain people. So I can say that I was recommended. Also, you can look at his Twitter, we can see here that he is a drummer. He loves vintage hardware. So he collects vintage hardware. So hey, maybe you have a Roland 808 and 909 machine, and he would probably love to see those, and maybe you can talk to him about it.

And maybe that's how you spark a conversation with him is by building a relationship, building a relationship. This is how you do it. You know, if you have a warm introduction, like Hey, I know so and so. And you know him and we've both talked about you, let's have a chat. Sure. Oh, I have an 808 and 909 machine, we should talk about that maybe we can exchange, you know, old hardware, you know, and then maybe then you can ask for advice never asked for funding that is one of the rules and one of the the pieces of advice that I've been given by investors is to always ask for advice instead of money.

So So that means when you talk to an investor, instead of saying, Hey, I'm raising $500,000, say, Hey, I'm really looking for advice, suggestions and feedback on my startup, do you have 10 minutes that we can have a phone or video chat or meet for coffee, so I can pick your brain? They're more prone to say yes, because the pressure is off. When you're no longer asking for money, they feel like that they are in control of the situation, and that you're not going to pester them for money, but that their feedback might actually help you. And you know what it usually does, they might even find your product so compelling, that they may actually want to invest or they'll say, you know what, I have a great guy for you to meet. He owns his company, and they have an API that you can use and they probably won't charge you since I'll, I'll introduce you and you might get a fantastic partnership out of meeting with this investor.

Which reminds me always practice your q&a you need to know your your questions and answers, because if he asks you or she asks you a question and you don't know the answer, or you hesitate, or you give the wrong answer. Or you stutter, they're going to feel not that confident about you and they're not going to want to talk to you or help you out. So make sure you always practice your QA. Now, if you're lucky enough to pass all their tests, and they show interest and they actually want to invest in your company for reals

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