Funding is an important part of the success of a startup. Many entrepreneurs believe that pitching their business to any investor who will stand still long enough to hear a pitch will ensure success for their startup. However, this isn’t always true. Sure, funding is good and helps your business grow, but ultimately an investor is there to help you with more than just a sack of cash — with support on how to grow your business, how to improve your revenue, and customer service.
Having an investor with the same vision you have is crucial for many reasons. We can look at it like two people raising a pet together. The partners raising the pet are the investor and the founder and the pet is the startup.
How would you raise a pet if the people raising it are not seeing eye to eye?
The growth of the startup is at stake
Now, remember, the startup is your pet. How would you raise them? Many would answer that they would ask the assistance of their partner to help them raise the pet, which is a perfect answer. However, when you and your partner don’t have the same idea of how your pet should behave, where they sleep and eat, or if they attend doggy daycare or not, it can confuse your pet and lead them to misbehave.
There are many ways in which the development of a pet could be harmed by differences of opinion between the people who care for it. One major consequence is that it will confuse your pet. This will lead to bad behaviour towards strangers or even toward you. It can also lead to your pet choosing either you or your partner as its “real owner” .
You and your partner need to decide if your pet will be allowed in the dining room when you have dinner, will the pet be allowed to sleep on the bed, and will the pet be allowed to wear a collar or not. Once all of these choices have been settled, you and your partner will both have to stick by them.
The same can be said for your startup. You and the Investor need to make sure that you agree on the future of the startup and how to reach that goal. This is why it is so important to work with an investor with whom you see eye to eye.
Constant bickering can cause lasting damage
Constant bickering and fighting can harm your pet. When a pet is exposed to constant bickering and fighting, it can cause them to be maladjusted. Do you want a difficult life for your pet? No? Then why would you want one for your startup?
It is best if founders and investors have multiple meetings where they calmly discuss things. Yes, there will be differences, but learning to work through them will ensure the best future for your startup. There is no need for one party to have more say than the other, and it is always better to find mutual ground. So, find mutual ground by discussing differences, and remember to never fight in front of your team.
Working together will lead to success
Being a supportive partner means having your partner’s best interests at heart. This is not always as easy as it seems, especially if you don’t fully agree. This is why it is important to trust one another when it comes to raising a pet, and the support you lend each other will go a long way.
The same can be said for your startup. Imagine this, the partnership between the founder and investor is strong and supportive. When their energies flow into the startup it allows the startup team to grow, reach new heights, and become successful. The partners have some disagreements, but the future of their startup is at the heart of their work and they always seem to resolve their differences. The future of that startup will be bright. The startup will prosper, it will enter new markets, and it might even disrupt some. Before they know it, the startup is well-known for its achievements and becomes the best competitor in the sector.
That sounds amazing, right? That can only be achieved when founders and investors are aligned about their goals, can work together to create that shared vision, and achieve a common goal—the success of the startup. And just like in pet parenthood, raising a startup is no easy task. But if the partners can stand together against all odds, then the future of the startup seems bright and promising.