The surge in popularity of LinkedIn as a platform for professionals, especially founders, is undeniable. It provides a space for sharing thoughts, advice, and personal experiences. However, when it comes to fundraising, could spending time on LinkedIn hurt more than help? Managing Director of BFG Partners, a venture capital firm, suggests that LinkedIn should be treated thoughtfully as any other social channel, as it can provide valuable insights for investors, especially for early-stage companies.
For consumer packaged goods (CPG) founders who are fundraising, there are dos and don’ts to keep in mind. Networking your way to a warm intro can demonstrate resourcefulness, and LinkedIn can be a useful tool for this. Letting your product speak for itself by offering samples can also be effective in showcasing its strengths. Additionally, being honest about mistakes and what you’ve learned from them can show investors your ability to adapt and grow.
On the other hand, there are things to avoid when fundraising. Wasting deck real estate by including information that investors already know can be counterproductive. Rushing the process is also a don’t, as building relationships with investors takes time. Overpromising and under-delivering can also damage credibility with investors, so it’s important to focus on what can go well while having a plan for potential challenges.
In conclusion, approaching every aspect of your investor strategy with intentionality is key. While digital platforms like LinkedIn can provide opportunities for engagement, the impact you make on them should be carefully considered. Embracing good habits such as networking strategically and showcasing product strengths, while avoiding pitfalls like unnecessary deck content and rushed promises, can make a difference in your fundraising efforts. For those looking to grow their business and network, Forbes Business Council offers a valuable opportunity for business owners and leaders to connect with like-minded individuals.
