If your brand were a person, how would it act? Can you describe its personality? Once your customers can do this, you’ll know you’re on your way to building a world class brand. A brand is the immediate impression that comes to mind when people think of a company, and a great brand evokes a strong and consistent emotion when people think of it.
Growing a business does funny things to the way your brain works. One way my brain will forever be changed is that whenever I launch into doing something new, I have to answer the questions, “Why should I do this? What’s the goal?” It focuses all decisions that come after it and gives me a way to evaluate whether or not to remain on the same path over time.
Most investors will tell you that the best time to build relationships with them is when you don’t need to fundraise. This is because they want to take the time to get to know you, your team and your product before they feel comfortable investing in your business.
Knowing this, it only makes sense that the best thing you can do to continue building on your investor relationships once you’ve raised your first round is to send consistent investor reports.
When inspiration hits, it’s tempting to ask the people who are closest to you for affirmation that your idea is genius. After all, they’re the ones who know you best, right? The only problem is, when it comes to innovation, the people you’re closest to may, in fact, be the worst people to listen to for feedback.