What are the best practices for building relationships with startups after a pitch?

Building relationships with founders after a pitch involves swift follow-ups. Send a personalized thank-you email post-pitch, expressing gratitude and highlighting key discussion points. Follow it up with a tailored message offering assistance or additional resources that align with their needs. Keep the dialogue open and genuine. Inviting them to an industry event showcases ongoing support. Timely, personalized actions nurture these relationships effectively.

Following up, communicating regularly, providing value-add services, cheerleading accomplishments and learning together are all boring clichés that mask what true collaboration should be when working with VCs. During the pitch, is their a connection that excites the soul and spirt of both parties? Does an energy percolate like an over-heated kettle whose whistle is annoyingly loud? If there a silent collaborative understanding that in one participant's hand is the hammer and in the other's is the chisel and they are together sculpting a mold of deep market disruption, then you have something! If that magic happens between the parties, trust me, an insatiable urge to go to market will result and "GO TIME" not "follow up time" will dominate.

In my epxerience as both a vc and a founder there are three main rules of thumbs: 1. Be present beween board meetings 2. Don't play backseat's CEO. Respect 3. Ask genuine questions and avoid clichés

Transparency on both sides is key to building trust. I call it the "say to do ratio". How much do I say I will do vs how much do I actually do? I hold myself accountable to founders. The same can be expected from founders- if you say you will follow up with additional information, data room, etc. do so in a timely manner. But if you need a few days to finalize/update docs, etc. don't sweat it. I would much rather wait a few days than receive a data room that has outdated information.

El tiempo de todos, tiene el mismo valor, pues debemos dejar de entender la palabra valor, como un sinónimo de dinero. Como LPs, debemos tener muy claro que las Start Ups, están en búsqueda de capital y muchas veces, con la necesidad de conseguirlo a corto plazo, al ser capital de trabajo o para afianzar algún negocio, que impulsará el crecimiento de la compa?ía. Si algo es de nuestro interés, debemos comunicarlo y de la misma forma, si no lo es. Para nosotros, decidir no invertir en una Start Up, representa un espacio libre para otro proyecto, pero para los emprendedores, representa una puerta que se cierra.

We invest into one company per week at Everywhere Ventures, however, that doesn't mean that we meet a founder and invest that day or week or even month. Instead, we prefer to get to know founders early (even before incorporation) to start to build those relationships. To do this, we encourage founders to send us their investor / company updates, do Loom video product updates and have touch points with our team even if they aren't raising. By the time the founder decides to launch a formal raise, we are often up to date on the business and can move quickly on a decision.

I truly appreciate founders that do a good job at keeping us in the loop- specially before they are raising. You hear about founders that raise $XM in a few weeks- the truth is, most of them spent months nurturing relationships before they even launched a formal raise. When a founder has done a good job keeping us informed, once they approach us for an investment, we already know their product, how they work, etc which makes the decision much easier.

We've implemented processes aimed at ensuring rapid responsiveness to every founder we engage with. This extends to promptly replying to all investor updates and proactively asking for updates to founders we've watchlisted. This communication style is important to our fast deal-making processes, as well as branding for the fund. So much so that we've even established a rule mandating the presence of a GP (decision maker) from the second meeting onwards, being vary of the founder's time

Investors are (sometimes wrongly) notorious for dragging out the investment process. Whether this is due to sloppy deal management or selfishly waiting to see who else is interested, poor and slow communication destroys trust and drives founders nuts! Regularly, asynchronous updates (ie email) with honest insight on the deal status can go a really long way to creating a good reputation. Synchronous updates (ie call) is great for bigger positive news like moving into diligence or investment committee pitch scheduling. If it’s bad news, such as the deal won’t move forward, asynchronous is fine to not waste anyone’s time.

For effective communication, the right tools are key. I use telegram.org: It feels more personal than email, apps, offers a buffer from personal texts & it's not invasive. Also remember to use LinkedIn?? This platform is vital for identifying network synergies! In venture, success is deeply rooted in building authentic relationships with founders. Be sincere & help people you believe in; share insights, relevant articles & make meaningful introductions. Social capital is just as valuable, if not more valuable than financial capital. The key is sincerity, & founders can easily recognize its absence. Investing time in people you believe in leads to partnerships that last, greater financial investment opportunities & general innovation.

We are building Red Bike Capital to be the firm I wish had existed when I was a founder. It helps that I have been a founders and built from 0 to 1 and 1 to 100- exactly the stage we're investing in. From thoughtful strategic advice, to valuable introductions, to quick responses to day-to-day operational questions, we strive to be an extension of the leadership team since day 1. Our goal is to be one of the most helpful investors you've had the pleasure of working with.

To build relationships with startups after a pitch, focus on consistent communication and active support. This includes making strategic introductions that can aid their growth, sharing valuable insights, and offering guidance. By helping them navigate challenges and connecting them with relevant contacts or resources, you foster a supportive environment. This approach is beneficial in the long term, as it strengthens bonds not just with their current venture, but potentially with future successful endeavors as well. Investing time in nurturing these relationships can lead to mutual benefits and opportunities.

A ton of early stage investors, solo-GPs, and traditional venture firms are building enormous media businesses alongside their investment portfolios. Attention is the new currency—offering startups in your portfolio access to distribution can be as valuable (if not more valuable) than capital. Packy McCormick (Not Boring), Harry Stebbings (20VC), and Maggie Sellers (HSR) are a great case study, but there are a ton of others too long to list. First time founders obsess over product—second time founders obsess over distribution.

Value add thought share is at the heart of all relationships! If the thought share is collaborative and value add, everything else will take care of itself. Thought share is equal part listening, equal part speaking and then the magic happens….

Muchas veces las Start Ups, sobre todo las que se encuentran en primeros levantamientos de capital, carecen de estructuras completamente solidificas, por lo que el proporcionar servicios de valor y orientación, como lo son los legales, contables y financieros, ayudan en gran medida a evitar “fugas de flujos” e incluso, a mitigar riesgos que pudieran prevenirse.

As a VC fund you probably have more visibility in the field than any particular portfolio company of yours does. So, if you announce their successes publicly (e.g. on X, LinkedIn, or YouTube) it will carry a lot of weight. Founders will appreciate the recognition from you, and it will help them with recruiting and future funding.

Always stay updated with the startups & founders you engage with; subscribe to their social media alerts. Celebrate founders' milestones and share their achievements. Extend invitations for them to share stories at events and podcasts. Continue to support your investment in their success by sharing their accomplishments with the right people. Publicly acknowledging achievements & execution is important, but combine it with constructive feedback for growth. This balance of feedback and celebration deepens the relationship, showing your commitment, as an extended member of their team. All Venture Capitalists praise their founders; go beyond praise help your founders meaningfully grow.

Know your founders. Get to know them as human beings and understand what kind of support matters to them. Listen to them, the things they say and do. Be sensitive to the shifts in energy and provide support or celebrate achievements in a way that makes sense and is appropriate for the context.

Podemos ser multitask, pero no expertos en toda materia. Como LPs, podemos ofrecer conocimientos de alto valor a las Start Ups, pero al final, el emprendedor conoce su negocio, público y producto, por lo que es indispensable trabajar de la mano, así como escuchar y entender, las necesidades y planes de los emprendedores.

Regardless of your role in venture, be it a general partner, analyst, partner, or associate; managing a venture firm mirrors the dynamics of running a startup. Just like when seeking product-market fit, it's essential to embrace & apply feedback in the venture process. Feedback from founders won't always be straightforward. Those you've invested in may have a tendency to praise the process, while those you've passed on might criticize it. Instead of zeroing in on individual comments, focus on the recurring themes & common things mentioned, rather than specific advice offered. Shared concerns or clear areas of dissatisfaction are crucial for refining your approach. Incorporate feedback as methodically as a product team would.

Search for the patterns. Improve on recurring themes in the feedback that you gather. Be content that you can't be everything for everyone, but you can be your best.

After pitching to startups, it's key to forge lasting relationships. Firstly, personalized follow-ups matter. Share insights or resources relevant to their business. Secondly, stay engaged without being pushy. Regular check-ins or updates on your progress and how you're addressing their needs can demonstrate commitment. Lastly, networking events or industry conferences offer excellent opportunities for casual catch-ups. It's a chance to solidify relationships beyond business discussions, fostering trust and camaraderie. Remember, genuine interest and consistent communication lay the foundation for enduring partnerships.

Even if a particular startup doesn’t align with your investment criteria or is too early for investment, it’s beneficial to clearly explain your reasons for not investing. Let them know if future investment opportunities might exist. Be honest and genuine in your feedback. Offer assistance, whether that means connecting them with a more suitable investor or providing specific feedback on your concerns. This approach fosters a stronger relationship with the founders and allows you to monitor their progress.

One thing that I have found useful it to consult the different VC's in your company. Listen. Listen. Listen. Don't assume the vc's get your vision that is so clear to you. By asking them questions you can gauge if they get it.

When offering value-added services like mentorship, training, or network access to startups, it's crucial to manage expectations carefully. Startups, often in need of extensive support, can easily develop high expectations when encountering someone with significant resources. However, the reality is that post-pitch or initial meetings, your own commitments and busy schedule can limit the extent of your involvement. To maintain credibility and trust, it's important to: 1) provide immediate, tangible value wherever possible, and 2) commit only to what you can realistically deliver. This approach ensures a balanced and honest relationship with the startups you support.

You should think of maintaining a relationship after a pitch like being a supportive mentor. It's about staying engaged in a way that's encouraging and helpful without being pushy. Reach out periodically to share valuable industry news, articles, or events that could benefit them. By doing so, you're nurturing the connection and offering support, much like a guiding mentor, without overwhelming them with constant communication.