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7.8 Action Items
In this Step you looked at how to contact targeted investors; how to
prepare for your first meeting; and what level of detail to present
during the first meeting. You've also considered how to conduct yourself
during the meeting, and what is involved in the due diligence review.
The following checklist will help you to:
- assess your understanding of the ideas covered in this Step;
- gauge your progress; and
- plan your company's approach.
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1. Look creatively and widely for potential investors, through:
- personal referrals
- social and industry gatherings
- formal letters
- "cold calls"
- networks, professional groups or associations, business contacts,
economic development organizations, and so on.
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2. Anticipate the first meeting.
- Begin developing and rehearsing your presentation.
- Organize yourself in advance: agenda, location, equipment, handouts, etc.
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3. Consider two points of view: the investor's and yours.
- Anticipate the investor's needs.
- Identify you own questions and issues for the meeting.
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4. Manage the meeting effectively.
- Remember to follow through on your preparations.
- Be observant and respond to the investor's reactions.
- Carry out a post-meeting assessment with your team.
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5. Anticipate and understand the due diligence review.
- Expect the investor to begin due diligence early.
- Be open, not defensive.
- Recognize that due diligence is a positive sign.
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