Relationships with lenders and investors are key. Don’t leave it to when you need it.
Good relationships with lenders and investors are crucial whether your business is struggling or flourishing. These stakeholders are often lifelines for your company and they can mean the difference between growth and decline.
The relationships you have built with your lenders and investors will always be looked toward in order to assess potential further interactions, loans, and investments.
When your company is on the up, these parties will reap the benefits and will be happy to continue investing in your business.
But, as with most things, communication is key.
Keeping your lenders and investors up to date no matter the state of business shows proactive leadership and respect. If you only communicate when you need something, it can reflect negatively on your business and they may decide to pull out their investment.
Another thing that can really impact this relationship is establishing something mutually beneficial.
Lenders and investors have their own desired outcomes and being able to recognize and contribute towards these outcomes while still holding true to your own is crucial.
Securing capital is just one step. You also need to make sure you secure a consistent relationship with the very parties who provide you with the help you need when you need it.