Don't lead with the deal!Feb 24, 2021
Financial regulations aside, that’s like proposing marriage on a first date.
And how often does that work without creeping the other party out?
Sequencing is everything. We cannot stress this enough.
What should you do instead?
Build the relationship before asking for money.
Every relationship goes through stages.
In a romantic relationship, you go through a stage of courtship before moving in together and/or getting married. This means multiple dates where you get to know each other before you take things to the next level.
It’s the same for business relationships. You need to get to know each other before you enter a business relationship that could easily span months, if not years.
If you are looking to work with private investors, keep in mind that it takes time to build relationships with investors. It often takes longer than most people anticipate so don’t leave it until the very last minute to do so.
Tip: Ideally, you want to start the process at least 6 months before you need the money.
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