I had a funny interaction with an investor that has always stood out in my mind.
Investor: you invested in (stealth portfolio company)?
Me: yes we did 🤗 so stoked for that one.
Investor: why didn’t you notify me about that round?
Me: 😳umm
(In my mind: we’ve had 1 call and we rarely text/email, otherwise I would have)
My interpretation:
“Out of sight, out of mind.”
Early-stage venture (and many other industries) is a team sport and you need to show up at the game.
The interaction was a reminder of the importance of building a real relationship, with repeat touch points and reciprocity, to build trust and sharing.
Then, suddenly, you find yourself quite “lucky” with opportunity!
Here’s what erodes relationship security fast, if one party:
1. Isn’t engaged.
2. Has poor communication and follow-up.
3. Doesn’t respect your time.
4. Is aloof or off-putting to your introductions.
5. Doesn’t display a genuine effort to add value.
6. Doesn’t bring quality information or opportunity to the table.
7. Is entitled (expects to receive and not give).
8. Is arrogant (assumes they know something and refuses to seek understanding).
9. Doesn’t have your back (which so often gets back-channeled).
10. Doesn’t follow through / keep their word.
11. Is passive-aggressive.
12. Is insincere (eg, compliments masking envy or some other unhealthy dynamic).
These activities, whether you’re aware you’re doing so or not, get “registered”.
And yes – we have all been there! Me included 🤗. Owning that is how we grow.
The truth hurts so good. ðŸ˜
Let’s also be real. There are only so many people one can engage deeply.
We can’t be expected to be available to just anyone at any time, especially when one is violating the rules of engagement. That’s a recipe for Zoom fatigue and diluting your gifts (I’ve been there). Boundaries are important, too.
As a solo GP, my network of external partners has been incredible allies and critical to our success so far.
Knowing who to invest “relationship equity” in, and how to show up, have been mission-critical.
When we honor these relationships, this kind of magic happens:
1. We are truly invested in each other’s success.
2. We celebrate each other.
3. We go to bat with other investors and founders for each other.
4. We give the cool “hookups”, eg speaking engagements / media and high-profile events.
5. We notify each other first whenever we are considering an investment opportunity.
6. We fight to make room for each other – even if that sometimes means cutting back our own allocation.
Creating your own “luck” requires embracing a mindset of adding value to others. It takes putting in the work each day, recognizing alignment, and high-value communication.
