The importance of engagement
People love sharing good news but not surprising that they don’t love sharing the bad news. As a founder, you have to be able to share it all. You also have to learn how to be transparent and engaging with the investors around you that want to help.
When I make a commitment to a company as an investor, I am also giving my time. Each investment is different based on who else is involved in the company and the changes as the company grows. There are times when I get frustrated with founders who I feel as though I need to hunt and peck to get any information from them.
I have also seen when everything is “great”. There is no way that everything is “great”. Then you find out things are “bad” with little time to spare. It is frustrating for everyone on both sides of the fence.
I love the emails I get when a founder says “here is the good and here is the bad and here are the asks”. To start your company off that way creates transparency for everyone from the very onset. You end up hearing from the investors who want to be of help because those are the ones that response to those emails. You can then figure out who to engage.
Once you take capital there becomes other players in the mix. Opening up to the capital about what’s really going on is much better than holding those cards too tight. You would be surprised how many potholes you can avoid with some early stage investors.