Must to have vs. Nice to have #AdviceForNewEntrepreneurs
“Sometimes, we manage to push each other away without meaning it at all, in regards to attracting investments, partnerships, sales, etc.” shares Simona. “In situations, where a partnership of sort is “𝐦𝐮𝐬𝐭 𝐭𝐨 𝐡𝐚𝐯𝐞” for one side, and “𝐧𝐢𝐜𝐞 𝐭𝐨 𝐡𝐚𝐯𝐞” for the other.”
👉 The start-up needs investments. Like water. Without investments, it won’t survive — “must-have”. 𝐅𝐨𝐫 𝐚 𝐬𝐭𝐚𝐫𝐭-𝐮𝐩, 𝐢𝐧𝐯𝐞𝐬𝐭𝐦𝐞𝐧𝐭 𝐢𝐬 𝐚 𝐩𝐚𝐢𝐧𝐤𝐢𝐥𝐥𝐞𝐫.
👉The investor is really intrigued, he does want the start-up in his portfolio, however, right now they have urgent business to attend to; therefore, the start-up is “nice to have”. 𝐅𝐨𝐫 𝐭𝐡𝐞 𝐢𝐧𝐯𝐞𝐬𝐭𝐨𝐫, 𝐭𝐡𝐞 𝐬𝐭𝐚𝐫𝐭-𝐮𝐩 𝐢𝐬 𝐚 𝐯𝐢𝐭𝐚𝐦𝐢𝐧.
A start-up can get (understandably) pretty anxious and impatient — they tend to respond as quickly as possible after the investor’s inquiry, and follow-up quite early. At that time until the investor’s response, it’s truly possible one is real busy; first, he has some “fires” to “extinguish”, and only after attending them he is able to give an honest, profound thought, and only then provide a response.
Sometimes, 𝐩𝐚𝐭𝐢𝐞𝐧𝐜𝐞 𝐢𝐬 𝐤𝐞𝐲 — and required quality to not over-push the situations that otherwise might end up with… an investing round!