4 Ways to Monetize a Community
August 30, 2024
If you’ve built a community, it’s not always immediately clear how you will make money.
Today we’re talking about how just one investor can essentially fill up your entire round. Of course, they could simply write a check for the whole amount, but that’s quite rare and it’s actually advisable to have a few different investors, even if you have lots of demand.
So here’s how one investor can help you fill up the remainder of your round.
As soon as the wire hits, and absolutely not before. Go straight back to your new investor and ask them for introductions to anyone else they think might be interested. Don’t hesitate here. We need to make use of this warm reference ASAP.
Don’t rely solely on an investor’s memory for connections. Go through their social media friend lists with a fine tooth comb. Most investors are connected to dozens of other investors, for example, at Sterling Road, we often provide over 20 intros to founders in our portfolio.
Even after you have exhausted an investor’s network, you can still use their name with others. Startup investors tend to move as a herd, so mentioning the reputable people already involved can tip the scales in your favor.
Best of luck out there.
