Would have been nice to qualify the interest more before sharing the company details. Did you do that?
(If you did not) Now you operate at a very significant disadvantage. They have a lot more information about you than you probably do about them. Generally, but not always, control over where this all goes is more in their hand than yours.
Had that discussion been better qualified, you probably would know more about them becoming a customer, for one, and would have gotten value in return for value given. And control would be better managed by you.
Why do they want to invest? How long have they been looking for an opportunity like your firm?
Why?
And with that, for what returns and how do those align with both your business and theirs?
Oh yes, I did qualify him for investments and thankfully, I did get answers to all the questions above. I was directly talking to the founder and had researched about his story before getting on the call. He sold his previous venture and is also a partner at a fund in US. I also understood his interest in our company and what are other similar companies he has considered? We also talked about the competition in US and global, both. It flowed like a conversation and I am glad that he was upfront about investing rather than using tricks to fetch information.
I was worried because I just went with the flow and had afterthoughts if I should ever change the context of a call! I am very wary of investors who do not have any entrepreneurial experience. Most of these investors, at least in India, have a very cosmetic entrepreneurial experience?
(If you did not) Now you operate at a very significant disadvantage. They have a lot more information about you than you probably do about them. Generally, but not always, control over where this all goes is more in their hand than yours.
Had that discussion been better qualified, you probably would know more about them becoming a customer, for one, and would have gotten value in return for value given. And control would be better managed by you.
Why do they want to invest? How long have they been looking for an opportunity like your firm?
Why?
And with that, for what returns and how do those align with both your business and theirs?