Raising Capital During a Pandemic: Execution of Strategy
During “The Current State” webinar, presented by BrownWinick, LWBJ and the Greater Des Moines Partnership, panelists discussed the ongoing challenges of raising and deploying capital during the COVID-19 pandemic. This is the third post in a three-part blog series covering the August 13, 2020 event, focusing on the execution panel. BrownWinick attorney Joe Leo moderated the third panel, focusing on the rise of the remote pitch and the differences between virtual deals and pitching a business in person. View this portion of the event beginning at timestamp 1:41:31.
Investor panelists at the virtual event included:
Engelmann shares the importance of business relationships. He suggested the need to have conversations that will allow you to determine whether you want to move forward with a partnership that could last a number of years. Frequency of conversations will help build rapport, and overcommunication can compensate for the lack of in-person meetings.
Professionalism on Zoom, in email or on a document you provide is magnified in remote pitching. Colwell says that first impressions are made through actions. Without that in-person meeting, you need to be sharp in your communication online. He adds that because people aren’t traveling, there is more time to ask questions and consider deals.
Keehner advises entrepreneurs to be concise in pitches. If you can send materials early, ahead of a meeting, that is helpful. Be sure that what you are saying is finetuned and be clear about where you are in development. She says founders must make good use of everyone’s time and build trust.
Learn more about remote pitching by watch the entire webinar below:
You can count on The Partnership to continue to share accurate and fact-based updates. See more on COVID-19 here.
Find these tips useful? Learn more tricks on how to maximize the potential of your business through The Partnership’s Small Business Resources Hub.
As executive director of entrepreneurial initiatives of the Greater Des Moines Partnership, Mike Colwell leads works with startups to build their business model, financial model, marketing strategies and capitalization plan. He is also co-manager of Plains Angels, a group of Iowa-based Midwest angel investors. Mike spends his days coaching, mentoring, consulting and asking tough questions to help entrepreneurs reach their full potential. Mike assists with business strategy, business planning, business plan execution, business model development and capital acquisition strategies.