What’s one of the smartest things entrepreneurs can do to ensure that investors will work with them? Lean on investors for more than financial support in order to succeed.
Sounds obvious, right? The trouble is that both parties are extremely busy. They tend to always have multiple irons in the fire, which makes finding face time difficult.
Raymond Luk understands the pressures from both sides of this coin. He’s the CEO and co-founder of Scalability, a back office technology company, and he’s a co-founder of Montreal accelerator Year One Labs and Flow Ventures, a consulting firm focused on venture-backed startups.
Raymond is also the founder and CEO of Hockeystick, which has come to light thanks in part to his 15 years worth of experience as an angel investor and entrepreneur. Hockeystick is an investor relations tool that simplifies reporting to investors and makes it easier for both parties to help one another.
Supercharge Your Relationships
Startups, accelerators, private companies, angel investors, and investment groups can all set up profiles on Hockeystick. The platform integrates with AngelList for added convenience.
Automated scheduling reminds founders of when investors would like to see reports. These short forms gather essential data – notes, problems, challenges, monthly revenue, burn rate, cash balance. Knowing exactly what needs to be tracked makes life easier for the entrepreneur, and delivering information on time prevents straining relations.
Hockeystick’s “Ask” feature allows entrepreneurs to ask investors for help directly. They name what they need advice or feedback on from investors and then ask away. Investors can reply to these private messages quickly by choice of email, tweet, Facebook, Google or LinkedIn. Members can also broadcast messages to other members (mentors, followers, investors) in their network to solicit the best response.
No meetings or more scheduling, or hunting down people to ask for help – just ask, and boom: answers.
From the investor’s standpoint, Hockeystick provides a simple dashboard for viewing companies within a portfolio. Hockeystick lets the investor arrange data as it best suits each individual. Automatic reminders and notifications spare investors the trouble of contacting companies for information. These features streamline the process of collecting data and organize it so that it’s easy to find.
At the same time, simple reports establish standards by which to measure and compare startups. Who doesn’t love useful metrics?
Like Raymond, many investors also run startups or have done so beforehand. This means that they’re accustomed to a hands-on work. Hockeystick makes it easy for companies to approach investors for help and keep them engaged. What’s more, the platform makes associations both more visible and accessible, so that everyone can tap into each other’s unique skills and experience.
As the website states, “You’re [entrepreneurs] getting access to your investors and their networks. They’re getting regular updates and metrics from you.” Everyone benefits from this fast and easy exchange when businesses perform better as a result.
Activate your investors now at Hockeystick.co.