Hello, this is Richard Wilson, CEO of the Family Office Club with a quick video insight here. I wanted to talk about how one of our Family Office Club members on stage at our Deal Flow Summit, which is happening today right behind me, said that he has been able to raise $180 million dollars for his fund over the last three to four years by being politely persistent, by having a tenacious person helping him with the capital raising, by just planting seeds and building trust and building relationships for the long term. I think the key there is the politely persistent approach. Many times there’s timing issues, there’s trust issues. There’s having a clear enough schedule and clear enough desk and investment team that they can seriously look at your offering. They might have a liquidity event coming up or that they’re working through, so you shouldn’t take it personally if the timing is wrong or if somebody doesn’t respond. It could be the seventh or the 15th followup that somebody does respond, but doing so politely, meaning having some spacing between communications, such as 10 to 40 days between communications based on the previous communications and how those went and what their preferences are and where the relationship at is critical. I think people mess up when they either give up after one or two approaches. They mess up when they followup in three different communication forms the same day or even the same week. It might feel like the same day to a busy investor. The more sophisticated your investor, the more busy they are, the more in the flow of deals they are, the more that you have to be persistent but also polite and really take a long-term view of planting the seed and building a real relationship with the potential investor. Hope this is valuable to some of you that are working in investor relations or running your own investor firm or raising capital for an operating business. If you want to learn more, please check out our workshops at familyoffices.com.
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