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October 20, 2016

Startup fundraising tips: Ask for more contacts! – Bobby’s Minute, ep. 29

I always ask for other potential investors, for other contacts.

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Transcript:

What are some tips for founders raising money? I’ve already said two of them in the previous videos. The last tip I want to tell you is that, at the end of any pitch, you should ask for more contacts. My experience is that people in the investment industry usually know each other, especially at the seed money level.

You should ask if they know people that are interested in your project. This is the way I’ve managed to get to a lot of people that I didn’t know about. Basically, by pitching some investors and those investors would say to me “well, we’re not really interested in gaming” and I would ask: “Which of your investor friends will be interested in gaming?” or “would be interested in what we’re doing?”.

And they would recommend someone else. So,at the end of any pitch, ask this question. There are people that will not look kindly at you for asking this question, because they wouldn’t recommend their competition, but most of the time my experience is that they will gladly recommend somebody, one of their friends, or somebody that’s interested.

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