By Poornima Vijayashanker Last week I talked about the importance of finding people who will back your ideas, and shared what Erin, one reader …
By Poornima Vijayashanker
Last week I talked about the importance of finding people who will back your ideas, and shared what Erin, one reader was going through. I provided 3 strategies: start with people who already support you, reach out to people whose mission is aligned with yours, and don’t just ask them to back you, present them with an offer.
It was great to read through people’s responses, and as I engaged in conversations a number of you asked me the following questions:
Yes you need to practice and yes it is a numbers game. BUT, that alone isn’t enough.
If you try to take a brute force approach you run the risk of burning out. What you instead want is to develop a feedback mechanism where you learn from each conversation and then refine your pitch.
To help you devise that feedback mechanism I’m going to do a deeper dive and share some of the common mistakes people unknowingly make and 7 strategies that will help you overcome them when getting others to back your ideas. I’ve tested these strategies out with engineers who were looking to lead projects, founders who were looking to raise money from investors, and even entry-level employees looking to get their first job!
I’ve noticed that many people just sit down and start talking about themselves, and what they need. They don’t take the time to thank the other person for their time, and get to know what their interests are.
Start by giving the other person 3-5 minutes. Let them speak and share their background.
Here’s a simple script you can use:
“Thanks for taking the time to meet with me. Before I dive into telling you about myself and what I’m working on, I’d like to get to know. I know you’ve done a lot, but I’d like to know what your current interests are and what you’re working on?”
Yes it may lead you off topic!
The goal of having them talk first to is have them clear their mind of everything else that’s going on. When you ask someone to talk about themselves, you’re sure to discover the following:
I’ve come across many engineers who say, “Oh I’m a Ruby on Rails developer.” Instantly the person on the other ends think, “Oh too bad I was looking for a Python developer, moving on…”
The engineer should have instead said, “I’m a backend engineer, who has built web applications for growth stage startups. I pick up new frameworks pretty quickly. In fact, here’s an example of a time I had to learn iOS within a weekend for a hackathon…”
If you are a domain expert, highlight that, and give clear examples. And if you don’t have any yet go out and get some! It’s helpful to talk to teammates and supervisors, but you also need to think about your own experiences and how that has led to you have a particular expertise.
I just met with a founder yesterday, who told me that everyone on his founding team had worked for at least one of the competitors. Talk about unfair advantage!
I cannot emphasize this point enough.
People are concerned about their ass being on the line if they back you in any capacity: hiring, financing your idea, even working with or for you. So you need to take the time to mitigate any concerns they have about risk.
The good news is that there are different ways to build it.
You can have a set referral customers, highlight where you went to school, past employers who are reputable, tell them about awards you’ve received, showcase things you’ve built, even writing and speaking builds trust!
My best backers show up to a meeting or call having googled me, read a post, or watched one of my YouTube videos. They already have a solid impression of me before I’m in front of them!
If you’re doing something that everyone else is doing that is OK. It’s not about being original, it’s about how you’re better than the other person, and better also means highlighting how you’re different.
For example, when I was hiring an editor last year for my first book, I met with a handful of editors. Most told me: I do grammar edits, I cost $75/hour, and my turnaround time is usually 48 hours.
The editor that I ended up hiring took the time to tell me how she was different. She explained her process, she asked me questions about my audience, and she even gave me a sample edit of a chapter so I could get a taste of what the finished product would look like.
It was a no-brainer for me to choose to hire her versus the pool of candidates who all sounded the same.
I mentioned in #2 that you need to present a clear vision, but you also need to bring it down to reality. Show how you are going execute. It’s OK to present people with a plan, and make it specific, even include what you need help with.
It shows them that you have foresight!
Don’t end the meeting wishy washy. Tell them why you need their backing now!
AND for those who aren’t interested in backing you ASK for intros to others. Just because they aren’t interested doesn’t mean their friends won’t be.
I had an investor who once didn’t understand my space, he referred me to his friend. His friend was psyched after our meeting, invested, and then convinced the original investor to put in capital along with another!
Interesting things happen when you ASK 😉
Most people are going to say nice things to your face, because they don’t want to be the person who crushed your spirit. But if they aren’t asking to follow up, asking insightful questions, then they aren’t interested.
DO NOT USE THIS AS A SIGN OF FAILURE.
This is just the beginning. You will need sometime to find your turning point. My sincere advice would be to think of this as practice.
If you keep at it, you will face a turning point. It might happen after 5, 15 or 50 meetings. It all comes down to:
Now I want to know, which of these strategies you’ve tried or do you have others to add to this list? Let me know in the comments below!