Getting your app funded by investors can be something very difficult for you to accomplish, especially nowadays since the demand for investors is constantly growing on the market. To increase your chances to get an investor, fostering a relationship with said investor is very important.
Building a relationship with your investors prior to directly asking them to invest is important and will increase your chances of getting your product funded. This article will give you more insight on what you can do to build a rapport with investors and put all the chances for a successful funding pitch on your side.
Coffee Meetings might be the most organic way to meet someone you wish to build a real rapport with. Try to go for 15 minutes as it is short enough to not be a big commitment in their calendar but long enough for you to get your point across.
We would advise to start by asking for advice regarding the product you are trying to get funded. As an investor, he knows what is a promising idea and what is not, asking for advice rather than directly for an investment will therefore not only introduce him to your product in a way that is not too confronting, but also provide you with valuable information.
Here are some other tips we have regarding coffee meetings:
- Have questions relevant to your field and your product ready in advance
- Research your investor, his previous experiences and his history within the industry before the meeting.
- Try to make the investor speak and actively engage in the conversation rather than just letting him listen you for the entire time.
AngelList is a platform allowing both investors and startups to connect with one another and to be able to find each other quickly. Through AngelList, you will be able to find investors who are interested in investing in your field or something related to it. This will allow you to easily connect with those already thinking about investing and to build a relationship from there.
Meetup is a platform allowing people to meet, share and learn things based on common interests. Because investors are always on the hunt for the next big venture, they typically frequent places where they can meet and talk to a lot of different people. Your job as someone looking for an investor is to know about these places and to use them as a way to introduce yourself to those who might turn into future investors.
Searching “startups” on Meetups for instance can lead to you finding several places that these investors usually frequent and give you an opportunity to build a long-lasting relationship with one of them.