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Chase an Investor?

I knew this guy from my past work. Sometime ago, I told him that I was working on something that I hoped to be a startup someday. So we met recently and he seem interested with my idea, and he told me about the possibility of providing me some funding.

I gave him a business plan a couple of weeks ago and hoped for the best. He hasn’t get back to me with anything yet.

I’m not sure how this really works, should I actively contact and chase him about investing? Or, should I just wait until he gets back to me?

What do you think I should do?

 

  • Get your NO from him as fast as you can. Contact him and tell him you’re in a rush and want to mark him as in or out . He’ll appreciate you’re serious and decide. Raising money takes lots of your time, you can’t waste it on any maybes or wishy-washy people.

    Reply

  • No problem in contacting him, but if you do it’s best to come armed with some traction.

    Your follow up should look something like this:

    “Mike – sending you a quick update on our product. Rolling out the beta to Company Name this week and have an LOI out to them.

    If you want to have a quick follow up to our conversation I’m available for a coffee next Tuesday at 8am. Can give you an update on my other investor conversations then too.”

    Reply

    • Don’t say “if you want to”, just tell him I’m available @ time/date, lets get together or talk on the phone or hold hands. Remove any friction from him saying yes or no, or let him offer another time that shows interest.

      Reply

      • I’ll drop “lets get together and hold hands” into my next investor email, call to action FTW. 😉

        Reply
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