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- ♞ Slowing Down Conversations
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Slowing Down Conversations
One of the most misleading pieces of advice applied to fundraising is that you need to “Strike while the iron is hot”. While it is true that you should make sure that you fundraise at the right time, it is not necessary true that you need to close deals just because there is interest or that you need to reply to investors quickly to keep their attention.
The reality is that the opposite is actually true. Similar to how high schoolers want to wait a few minutes before replying to their crush to avoid seeming overly commited, founders should take time before replying to investors.
No. I don’t support playing childish games with investors. If you get an email from them and you have a response, send it. But on the flip side, many founders like they NEED to reply immediately and this is what often leads to mistakes.
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How can you avoid replying too quickly?
What do I mean by too quickly? I mean, before you 100% know what you should be saying. Take the time to think through what is being asked or offered and reply correctly. Here are some tips to help you:
Move the conversation to email - If you are on a zoom call or talking in person you can tell them that you’ll reply over email after consulting with your team. Email gives you the chance to slow down and think instead of answering questions on the fly.
Wait to reply - If you are already communicating asynchronously (email/text) then just wait, they will think you are busy, its’s rarely taken as an insult.
Have a sip of water - If you are in a conversation and the question needs to be answered at the very least, take a sip of water and give yourself an extra 10-15 seconds to think instead of just blurting out whatever comes to mind.
Do you slow down the conversation when talking to VCs? |
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