Kim Lisa TaylorSecurities Attorney, Founder, Syndication Attorneys, PLLC · Corporate Securities Attorney, 2x Best-Selling Author, Nationwide Speaker | Private Placement

Why Knowing Your Investors Is Crucial for Long-Term Success

27 Sept 2024 · 1 min

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In this concise talk, the speaker likens the internet to an ocean filled with diverse and potentially risky participants, emphasizing the importance of thoroughly vetting investors before entering business relationships. The preferred approach is face‑to‑face meetings, followed by Zoom calls, phone calls, and event encounters as secondary options. The speaker stresses the need for consistent follow‑up, pre‑vetting for both financial suitability and mental/personality compatibility, and building relationships that can endure for five to seven years.

Chapters

The internet is like a big ocean that is full of all kinds of fish and other creatures. And some of them could be dangerous, some of them could be predatory, some of them might not be people that you want to invite into your world. So it always behooves you to get to know your investors. If you can do it face to face, that's fantastic. If you can't do it face to face, a Zoom call is second best because you can really get a sense of somebody just by seeing their face, seeing their body language, facial expressions. Third best would be phone calls. You know, we did business like that for a long time before the video conferencing became so readily available. Available, you know, and meeting people at events. But, you know, always follow up, follow up, follow up, get to know people, pre-vet them, make sure that they're suitable to be in your deals, not just financially but also, you know, mentally compatible, you know, so their personalities are compatible with yours. These are people that you actually like, that you want to be in business with, that you're going to be in contact with maybe for the next 5 to 7 years.