Investor Meeting Update
Thanks to everyone for your well wishes on my last post.
When I last left you (see below), I was in a common business situation. What should I have done? What do you think I did?
Luckily, I was prepared. The day before, while walking through our presentation, one of my business partners did a little role-playing, making believe he was indeed an investor with only 15 minutes of time due to a schedule conflict. When all was said and done, we were able to present in 20 minutes.
So, when our first investor repeated back verbatim my business partner’s script from the day before, I thought I was being punk’d. Nope.
You guys unanimously surmised that I had selected the 20 minute option. That would make sense given my personality and fast-talking nature. But, no.
We decided to reschedule for a couple of reasons, and herein lies the business lesson I would like to impart. First, our business opportunity does deserve more than 20 minutes to understand properly. We are proud of the innovation, commercialization and analysis we have put into our business plan and would like the opportunity to fully explain it, if we can. Second, the investor was clearly very preoccupied given that he was dealing with a business “emergency.” We couldn’t be sure he would be able to give us his undivided attention and that wasn’t fair to us or ultimately to him. He, too, realized that.
After walking out of the investor’s lobby, even though no meeting had transpired, the “weight” of the initial meeting melted off my shoulders. Go figure.
Just to tie up the story in a nice little bow for ya, I’m happy to report that we were able to reschedule the meeting and turn what would have been a rushed meeting into a fun and lively conversation that lasted two hours. Success!