Amplifying Voices: What is Passionate Money?
Amplifying Voices From: Elisa Camahort Page - Professional & Political
I said the quote above on a prep call for a conference panel about the fundraising journey, and I wanted to share it.
People talk about investors and making sure you raise “smart money.”
There are expectations that it’s smart money when your investors can give you great strategic advice, or when they can connect you to great people in their network that will help advance your business.
But the truth is they’re not in your business every day.
Lots of the great ideas they have are going to be things you already considered, and maybe already even tried! You’ll get some nuggets, for sure, but they’re not going to innovate for you.
Similarly, lots of the great connections they have are people with whom they’re trying to score points, and you may not be the most important person with whom they want to score points.
You’ll get some good stuff, but you’ll also expend plenty of energy managing investor expectations and communications around all these “smart” activities.
What would I suggest instead?
Look for investors who absolutely believe in you! Who are passionate about you and how great you are and how capable you are. You the founder, you the leader.
Every business is constantly evolving, adapting, even pivoting. (Yes, that hated word.)
You want your investors to see you as the person who can lead the company through all of that, not someone they should replace the minute your initial idea needs changing.
Look for their passion, because those are the investors who will stick with you… and your company.