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Networking 101
Many founders make loads of mistakes when fundraising, specifically around fundraising. For many of us, especially those who didn’t attend top schools or come from affluent backgrounds, the idea of networking your way to success can be intimidating.
The reality, however, is that when it comes to fundraising, you don’t always need to “network” in the traditional sense by reaching out to people, building relationships, and asking for introductions isn’t the only way to network.
Let’s discuss some simple tips to benefit from network effects when fundraising without needing to have an existing network or dedicate much time to “networking.”
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Respect - The startup world can be small. In any given year, 4-5 companies in my network (clients, subscribers, etc.) raise funds (or at least get high-level meetings) after a VC asks me for a reference. Unfortunately, at least two founders who I’ve dealt with through my newsletters have lost investments based on my interactions with them (and subsequent recommendations to VCs). Simply having respect for others can go a long way; you never know who the person you are talking to knows. I’ve quietly passed decks to VCs for founders I’ve liked; many of them might never know that a 10-minute chat with me got them the silent intro to the VC who backed them. Don’t blow chances by thinking you are better than or above anyone else.
Recommendations - Every founder has been told by a VC that they aren’t a fit for the VC and their thesis, stage, etc. In these circumstances, make sure to ask them for recommendations or introductions to firms/investors that they feel are a fit for you. You’d be surprised at their ability to get you in front of the right people. VCs know what they are all looking for and often share dealflow.
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📱 Book a Strategy Call to get 1:1 feedback on your pitch, pitch deck and/or fundraising strategy. (If you need general startup advice, then reply to this email, and I’ll let you know if/how I can help.)cess to new content about startups, fundraising, venture capital and more every day.
Onwards and Upwards,
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