Lenders And Investors — Five Methods For Developing A Personal Relationship

It is universally acknowledged. “Acquire a personal introduction and you will fare significantly better.”

There are, in fact, significantly more effective methods of obtaining that personal introduction, including the following:

1.Through Rejections

Yes, rejections have a silver lining. Each time a lender or investor rejects your business plan, call and inquire about a potential replacement.

Then, contact the individual or company recommended by Jan Snicker at Big Oldie Bank, noting, “Jan Snicker at Big Oldie Bank suggested I contact you.”

Voila! That concludes your individual introduction.

2.Through Research

Utilize your research to discover a point of agreement between you and the lender/investor. Perhaps your neighbor attended the same university as he did. Perhaps both of your children enjoy ice hockey.

Utilize this point of commonality to establish your personal approach.

For instance, you discover that he, like you, is a Scout leader. Therefore, begin, “Being a Scout leader taught me the value of instilling leadership skills in my team.”

Before you know it, you and he will be best friends.

3.Through a Mutual Contact

Within seven degrees of separation, there are people who are connected to both of you, either professionally or personally.

This may require some investigation. You need to connect with someone who knows someone who knows someone who knows him. However, it is well worth the effort. The goldmine of information you uncover along the way, as well as that all-important personal introduction, make every minute worthwhile.

Is this obtrusive? Certainly not. Individuals enjoy being questioned. They enjoy having a sense of importance. Therefore, give them both.

Do not be surprised if this journey uncovers additional investors/lenders that you were unaware of.

4.Through a Coincidence Encounter

You have reason to believe that Mr. Gingle will attend the investor forum next week? What the dickens is holding you back? Now is the time to plan your introduction.

If you can get a seat at his lunch table, you’ve hit a home run. However, any “chance” encounter will suffice. All you need is a few minutes to deliver your investor introduction pitch to potential investors.

Your objective is to convince him that it is acceptable for you to send him a business plan. That is, realistically, all the time he will have during such a brief encounter.

5.Through the Back Door

Your lender/investor is a business with clients. Several have been extremely successful, earning him a substantial sum of money.

If you are unable to contact your individual, attempt to contact a specific client. Always a good bet are industry conferences. Local business conferences frequently succeed as well.

I know of one enterprising entrepreneur who relocated to Menlo Park, California, and frequented pubs frequented by venture capitalists. While that may have been a bit radical, the approach is spot on.

I cannot emphasize enough how critical it is to conduct due diligence on your prospective investment partner. It makes no difference whether it’s a neighborhood bank or a venture capital firm on the other side of the country. Discover everything you can about them – their names, biographies, interests, speeches, education, and career path.

Then, when you do receive that personal introduction (which will invariably occur at the most inconvenient time! ), you will have the “information glue” necessary to make the introduction stick.

Wishing you the best of luck on your adventure!

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