8:32am: Wiring info received. 10:00am: Wire sent. I wire promptly to make your life easier.
Investors, don’t make founders chase you!
The Problem: Wasted Founder Time
I’ve watched founders chase investors for months. These are investors who committed to the company!
This wastes precious founder time.
They’re supposed to be building the next billion dollar company, not e-mailing an investor for the 5th time.
The Solution: Be Faster Than Other Investors
I saw a chance to differentiate from other investors here.
I wire as quickly as possible once I receive the documents from the founder. This usually occurs on the settlement date, when all investors are supposed to send their wires.
If founders have an easy time dealing with me, more great founders will come my way.
The Risks of Delay
When you drag your feet, you make more work for the founder. You risk exclusion from the round. And you hurt your reputation.
If you don’t want to invest in a startup, don’t! But if you do commit, follow through in a timely fashion.
Wrap-Up
The longer I do this, the more I realize what I really am: a customer service agent.
The startups are my customers. I have to give them good service.
If I don’t, they’ll go elsewhere.
Give founders good service, and you might be surprised the deals that come your way!
More on tech:
The Best Way to Share Your Deck with Investors
Meet My Latest Investment: Memelord
Why Short Decks Raise Millions
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