Financing is top of mind here at the TechStars offices. Not surprising...10 of 10 teams are raising capital. I'm happy that most of the companies already have commitments and are actively looking for angels/vcs to close out their round. At today's all-hands meetings, I was asked questions about financing. Here's a quick peek into how the conversation went today...
ME: "Don't discuss terms or ask for money over email. It may seem more efficient but deals don't get done over email. And worse, emails can be misinterpreted. The process of raising money is relationship management. And if you're managing a relationship...it's gotta be verbal...I mean telephone or in person.
It's like trying to manage your girlfriend, your spouse or mother via email...can't be done. You gotta talk to her."
SMART ASS QUESTION FROM TECHSTAR: "But what if you have multiple girlfriends?"
MY SMART ASS RESPONSE: "Well, then YOU certainly don't want your answers in writing."
Full steam ahead...Demo day is 2 weeks from Thursday!
p.s. Are you an investor or member of the press and want to come to Demo Day on November 3rd? Email email@example.com for an invite.