Photo: Business Insider
During a TechStars event in Boulder, CO, today, mentor Eric Marcoullier offered this awesome piece of advice for winning over investors:”Think about who you might want as an investor six months in advance and go get drunk with them, or take them to a concert,” he says.
While inebriated, ask advice about stuff. Then “as you start to raise funds come back and ask for money. At least that works for me.”
Marcoullier is founder of Boulder startup Gnip and, prior to that, MyBlogLog (acquired by Yahoo for about $10 million in January 2007). He was speaking on a panel at the TechStars for A Day event on Tuesday. That’s where founders of young startups gathered to schmooze mentors in the hope that they will be accepted into the accelerator program.
Before you spring for a few drinks or concert tickets for your favourite angel investor, be warned: fellow mentor and CEO of SendGrid Jim Franklin says, “Just so you know, we see that coming a mile away.”
But Marcoullier did have a bigger point. Don’t look at potential investors with dollar signs in your eyes. They are people. If you click as friends, that’s a good sign that the person is a good fit to be involved in your company.