Steps to Growth Capital Investor Readiness Skills

2.7 Wrap Up the Meeting Positively

Have your meeting end within a reasonable timeframe. Don't assume that, however long it takes, you should try to cover as many issues as possible in this one meeting. Although you might think that you're saving time by covering as much as possible in a single meeting, the truth is you aren't. People's minds begin to wander after about an hour and, although people hear what's going on, they don't listen effectively.

If you run out of time, schedule another meeting. Don't try to cram in the last few topics or new issues because they won't get the attention they deserve. Also, people can be given too much information at one time and suffer from information overload.

Arrange Follow-Up Meetings Now

At the end of the meeting, review the next steps and agree on the turnaround for information. If you need a follow-up meeting, try to arrange it while everyone is still present. If you wait, you run the risk of the investor being booked.

Make Your Final Comments Upbeat

Closing a meeting effectively can leave a sense of satisfaction and completeness for all parties. Make your final comments upbeat and enthusiastic.

• Summarize, very briefly, the progress made and the main points covered.
  
• Ask if there are any final questions or comments.
  
• Make sure contact information and business cards have been distributed.
  
• Thank everyone for his or her time and participation, and re-state the arrangements made for the next meeting.
  
• Walk to the door with the investor, and be sure to shake hands as a sign of your manners and good faith.

Debrief the Results

With the assistance of your advisor or a trusted member of your team, analyse the results of the meeting. Analysing the results will help you prepare for your next meeting with the investor you just met or with other investors in the future.

Even if the meeting failed to accomplish your goals, a thorough analysis can lead to identifying how to prepare better for the next meeting. The results of your analysis will help you organize the newly received information into manageable pieces that will help you better understand what took place during the meeting. By reflecting on the new information, you will also help retain that information for future use. You may find that summarizing the meeting's outcomes is a good way to evaluate the meeting.

Document the Results

Documenting the results immediately following the meeting is a good way to reflect on the meeting. Another advantage of putting the meeting outcomes on paper is that you can go back and read what was said in the meeting at a later date. Documentation is a valuable reference and probably a good habit to get into.

Respond to Action Items

If next steps were determined at the end of the meeting with the investor, make sure you know when these next steps are due. Responding late to action items may show investors that you really aren't that interested in their help and perhaps, when push comes to shove, you lack confidence in your business.

If you decide that sending follow-up material is appropriate, do it sooner rather than later. Again, you don't want your investor thinking you aren't interested or that you lack confidence.

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