It’s amazing how much further you can get with a potential investor, especially VCs, if you approach them asking for input. Of course, given their position as rainmakers in the startup world, they are constantly showered with requests to talk. Those talks are often about how great the entrepreneur’s business is and why the investor should give them money.
Of course it’s easy to see how going into that talk looking for feedback first is a refreshing change of pace. More importantly, by asking for input first, you are showing the investor that you are interested more in the value they bring to the company outside of the capital.
I know personally, I’d rather invest in the entrepreneur who is looking to maximize the value of every relationship, understanding that money is the oxygen necessary to run the race, but winning comes down to the strategy of choosing the right pace at the right time. I also want to be in an investor pool that adds value, not one that just writes a check.