Startups have really taken over the world of business and commerce these days, becoming some of the most influential and exciting business opportunities ever established.
The startup culture has absolutely permeated through most every area of business today, and no longer are startups confined to Silicon Valley. They are popping up all over the world (particularly in Europe and Southeast Asia), and transforming our day to day lives on a pretty regular basis.
At the same time, startups are dealing with a tremendous amount of competition from all corners these days. This is why they take on substantial investments, not just to gain access to the capital that they need to grow but to gain access to the capitalists that can help open doors and new opportunities as well.
Here are some tips and tricks for improving communication with investors in your start so that things can go as smoothly as possible on the road to success.
Outline expectations BEFORE you accept any investment
The most important thing you can do in any new relationship (but especially in a business and investment relationship) is to outline expectations ahead of time, especially before any money has exchanged hands.
You’ll want to make sure that they understand exactly what you expect of them as far as the investment and their time is considered, and you’ll also want to make sure that you understand exactly what they expect of you. You’ll want to hash this all out as soon in the process as possible so that you can determine whether or not this is a solid fit or if you need to look for investment somewhere else.
Keep open and organized lines of communication available
Secondly, it’s critically important that you keep open and organized lines of communication available for the investors that are helping your startup to grow and thrive.
There’s going to be a lot of action going on when you are building a startup, and there’s also going to be all kinds of different core business practices that are going to be pulling your attention in a million different directions.
Without organized and crystal-clear lines of communication between you and your investors things can just kind of get “lost in the shuffle”, and that’s never going to be good for your relationship, your business, or your odds of success going forward.
At the end of the day, you’ll definitely want to make sure that you have time to respond to and to communicate with these investors. Not only will they want to remain apprised of their investment, but you’ll also want to be to tap into their network and their expertise to help guide you to the next level of business as well.