Most founders fall Got into a very common trap: Just because you got great results in the last investor round doesn't mean new investors will believe you. This new cohort has not seen this feat firsthand and has no reason to trust you yet.

When a founder approaches his next round, one often asks himself: “How do I get this new group of investors to trust my performance?”

In our experience, founders who are successful in fundraising are great at building relationships, and they usually deliver what we call “pre-pitch”. This is “we’re not really looking for money; let’s be friends first ”pitch that will put you on an investor’s radar so that when it’s time to raise your next round, they’re much more likely to answer the phone because they actually know who you are.

But the concept of pre-pitch goes deeper than just making potential investors aware of your existence. Building relationships with prospective future investors requires you to think less like a founder and more like a marketer – much of the relationship work comes long before it’s time to ask for a tie-up.

The pre-pitch approach offers a number of advantages:

• Good practice: you don’t ask for money. Instead, they offer a sneak peek. Since your relationship-building pre-pitch doesn’t have millions at stake, you will inevitably be less anxious, which will lead to better relationships. Remember, if it doesn’t fit well, who cares?
• Open Feedback: If you don’t ask for money, you’re more likely to get honest feedback that you may not get in a high-stakes environment.
• Establish the baseline: going through where you are now, why the time is not yet to raise capital (the opposite of “why now”), and what else you need to do before the time is right is.
• Performance-based trust: Put your performance where your mouth is by showing your potential investor where you stand today and what you expect in the short term. Later, you can prove to them that you achieved what you promised.

7 ways to build relationships with VCs

Now you’re probably wondering, “What the hell should I say to build a good relationship with this next-round investor?” Here are a few pointers on how to approach the pre-pitch:

Find the relationship, not the money

Acknowledge that you will be early, but mention that you think it might fit well later. Say ahead of time that you want to be in a relationship and see if you could be a good match at some point. Don’t sneak in, you ask; let the relationship flourish organically.

Here’s an example: “We’re not actually raising yet and are probably too early for you. But I think this is something you might be very interested in and you thought it would be useful to get in touch, start a relationship and see if it would suit you. “

Do not waste time