“Mike” has raised over $17 million. The way he gets investor intros is totally different from most founders. Here’s how it works…

A Radically Different Approach

On Tuesday, I was chatting with Mike (not his real name). I’ve invested in his startup twice, and he’s gearing up to start a new fundraise. 

Most founders ask, “Do you know any other investors you could introduce me to?” This leaves the ball in my court. 

Mike inverts this. He does everything for me. 

Mike had me send over a list of investors I know. Then, he picked out the VC’s he thought were a good match.

Mike is drafting custom messages to each person. I just have to cut and paste!

Why Mike’s Method Wins

Mike has taken all of the guesswork out.

I don’t have to pick investors for him. I don’t have to write intros. 

Make it easier for an investor to make an intro, and it’s more likely to happen!

Mike uses every person on his cap table to meet more investors. He knows that people with skin in the game are a critical resource.

Think about it from a VC’s perspective. Which message are you more likely to reply to?

1. Intro request from someone you already know who has invested in the startup
2. Random cold message from a founder you’ve never heard of.

What If I Haven’t Raised $17 Million — Or Anything?

“That’s great for Mike, but he’s already raised 17 million! What about the rest of us?”

Even if you’ve only raised a small sum, you can use those investors to meet more investors. As your network expands, so will the amount of money you raise.

Even if you haven’t raised a cent, you can still get warm intros!

Ask your founder friends for intros to their investors. Ask your customers if they know any VCs. 

How to Draft a Message for Intros

For every intro, make sure you have a pre-written message, ready to cut and paste. Keep it short. Here’s an example:

“I’m building UberCab, the easiest way to get a ride. 

Just request a car on your phone and a driver shows up in minutes. You can see the car on a map, so you never have to wonder where your ride is.

We have 3 cars in operation and have done over 100 rides so far.

We are now raising a $1 million pre-seed to scale throughout SF.

Got 15 minutes?”

Wrap-Up

Getting warm intros is all about making it easy for the other person.

If you make them find the right people and draft messages, it’s not going to happen. If you do everything yourself, you’ll get way more intros.

Those warm intros are the key to closing your round.

Just remember: when you make intros easy, you get more of them! 

Have a great weekend, everybody!

More on tech:

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