EGA members globally collaborate to resolve challenges or define ways to leverage opportunities, during Executive Growth Circles. In advance of each EGC, the Catalyst (leader certified by EGA) selects one member to bring the sak – a real world challenge that is impacting their business and relevant for the other members.
The sak in a recent Fundraising Circle centered on the challenge of fundraising during the COVID-19 period. All in the group were facing similar capitalization challenges due to the economic uncertainty, slowed decision making and reduction in consumer demand- direct effects of the pandemic.
Some of the key points from the facilitated discussion in during the EGC:
- Not all businesses have been negatively affected, but are instead making the most out of this crisis and their businesses are growing – partnering with these companies can provide new revenue / investment sources.
- Investors do have funds but can be slow to commit. By creating a sense of urgency, business owners can speed decision making. Let investors know you have options and by delaying their decision, they can miss a valuable opportunity to get in early.
- Importance of identifying the right investor, ie a person or company with a passion, recognized need, personal interest in the product or service your company offers.
- Value of building, developing and leveraging relationships – including those built virtually. People invest in people. Be professional, communicate clearly and succinctly; keep people (potential future investors) informed. Even when you have secured the capital needed today – these relationships can lead to referrals and future investments.
The circle recognized that raising capital during these times may be very complicated. A key element of any investment is the confidence that it will succeed in the future. Since everything is extremely uncertain now, relationships, a strong success plan and clear communication of the immediate opportunity for investment is critical to gain investor attention and commitment.
At the conclusion of the EGC, all members left with Committed Actions including reconnecting with investors, sending updates to potential investors on a monthly basis, and using warm introductions to create new relationships.
Through peer collaboration, sharing similar experiences members increase their Future-Readiness. If you would like to learn more about raising funds during COVID-19 or becoming Future-Ready, then let’s talk!
Executive Growth Alliance is a global community of Open Committed Brave leaders who collaborate to prepare for the future. Through facilitated peer circles, they address common challenges and co-create new opportunities – gaining leadership skills, confidence, partnerships; enhanced corporate sustainability, while creating a greater future.