Fundraising is tough – but it doesn’t have to be!
Here is some know-how I’ve picked up over the years:
(1) Have an agenda and clarity on the purpose of the meeting beforehand.
(2) In the call, do some pre-vetting. “To respect both of our time and guide our conversation, I have a few questions for you – are you actively investing? What is your typical check size? What were some of your recent investments?”
It doesn’t have to be heavy. Just those three questions will give you a lot of insight. Avoid folks fishing for information.
(3) The point of the first meeting is to get a second meeting.
(4) The purse-holder doesn’t have all the power. You are inviting them to a worthwhile opportunity, and you both have to mutually agree to work together.
(5) Seek ways to acknowledge and align with the other person.
(6) Leave 5 minutes at the end to set up the next meeting, or outline next steps required to get to a second meeting. “What is your process?”
(7) Explore their value-add to what you are building. You want hard-working money with people devoted to your success.
(8) You want someone committed to the call. Ask why they were excited to chat, and what are they most interested in learning about.
(9) Ask for a “temperature check” and handle objections directly.