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A. The importance of good communication with potential and existing investors. Done effectively it significantly increases your chances of keeping the company f
by sillysaurus3 9y ago
A. The importance of good communication with potential and existing investors. Done effectively it significantly increases your chances of keeping the company funded, and therefore of success. Done terribly it makes you borderline un-fundable.
I learned it through being lashed by PG.
It helped by creating an open dialogue between our investors and us, and drove our focus and prioritization on the right things at the right time.
What does good communication look like? How about bad communication?
- wellboy 9y agoMostly a lot communication vs little to no communication.
- fredsters_s 9y ago(I wrote that answer) A few principles that may be useful: - have a regular cadence of communicating, usually monthly, usually he last day of the month - have a standard format and stick to it - numbers are better than words - preview the updates where you uncover scary stuff over the phone / in person before sending an update - always include an ask
- anitil 9y agoWhat do you mean by 'always include an ask'? Is that to keep them engaged by having some information out of them?
- mhluongo 9y agoYou should always think about how your investors can help you, and ask them for it. It's about engagement, sure. But it's also about realizing that you need to better leverage your network and supporters. Investors can't help you if they don't know what you need.
- sytse 9y agoWe at GitLab frequently ask for help with hiring referrals and potential customer introductions.