Relationships are a part of our everyday lives. The relationships we invest more time into are more rewarding and usually longer-lasting than those in which we just send a text to the other person every six months. Business relationships are no different.
When you consistently communicate with your portfolio and applaud them for the work they do and the progress they make, you are strengthening your relationship with them. By sharing the news and successes of your portfolio, you are giving them the attention they deserve. Founders and their teams work tirelessly to build the next innovative product and company. When you bring attention to their progress, you show them that the work they are doing is valuable. You are encouraging and motivating them to continue to achieve their goals.
This strengthens a business relationship because your portfolio trusts you and sees you as a dependable resource for them. Applauding their work only motivates them more and therefore increases their productivity levels and commitment to their work.
Expanded Network and Opportunities
Sharing news and successes of the companies in your portfolio also allows startups, especially newer ones, to gain some free advertising. When you as a startup advisor, venture capitalist, marketing agency, accelerator or any kind of service provider share news about a startup, you are opening them up to your network. And this network consists of investors, reporters, CEOs, entrepreneurs, industry experts, etc. Exposure to this expanded network drives opportunities, provides them with new ideas and perspectives and brings deserved attention to the startup.
Being present for the companies in your portfolio not only strengthens the relationships you have with them, but is also key to the successful growth of these companies. Therefore, it is vital to share the news and successes of your portfolio companies. The value these startups receive as a result is so great because of the impact it can have on the startup’s growth and success.
Learn how York IE Fuel, a market and competitive intelligence SaaS platform, can help you manage your startup portfolio and amplify their successes.