Learning to Close and When
If you grew up in an average middle-class family, you probably had little occasion to seriously ask for money. When you did, it was probably awkward and unpleasant. Most of us started out asking for our weekly allowance.
Unless you have spent the last several years in sales—actually calling on customers and getting sales—you need to reprogram your approach and learn to ask for the money. If you cannot give an investor or a banker a level of confidence that you are comfortable asking for the necessary capital and that you have the ability and sense of mission to spend the money wisely, you will not fund your company.
It is all about closing the deal. If you are presenting to angels or venture capitalists, the closing will be a process of additional meetings and diligence before it is time to close. If you are presenting your private placement memorandum to a selected audience, it is appropriate to identify those persons who have an active interest, answer their questions, and ask them to invest.
