Interviewing 6 Family Offices in the UAE about their Start Up investments
Start Ups, it is time to step into the shoes of an Family Office in the UAE to stand out from the crowd, pitch with confidence, and close the deal to fund your business.
[Family Office 1] Prepare Like You Mean It
“I’m busy on deals to support social enterprises that are primed to scale their impact. I don’t have time for entrepreneurs who clearly don’t fit into the scope of investments or our family holdings industries or who ask me questions about information they can easily find online.”
A common worry of founders is that taking outside investment will hamper their decision-making and lead to messy conflict. While deep partnerships certainly come with this type of risk, investors are just as concerned as founders about finding partners with shared goals.
[Family Office 2] Stand Out From The Crowd
“I get so many emails and pitches throughout the year that there’s only time for the most memorable ones that capture and keep my attention.”
Avoid blending in with the crowd to capture the attention of families, as nearly all here do not follow others, that is why they are who they are today, which is different!!
[Family Office 3] Pitch With Confidence
“Your job is to give me confidence that my money will help you generate a financial and social/environmental return at some period in time.”
There is no shortage of advice online and from mentors about perfecting your investment pitch. It can quickly escalate to the point that it becomes overwhelming. If you’re feeling this way, it might be a good time to pause and return to basics.
Investors are less concerned with a flashy or slick delivery. Instead, they want to get to know the heart of your business and how it may benefits the families current assets or future vision.
[Family Office 4] Know Your Businesses Key Metrics
“The better you understand and communicate the metrics that drive your business, the more confident I will be to entrust you with my funds."
Practice, practice, practice summarising your financials and key consumer metrics. Nothing more attractive than knowing everything by the decimal point of all business metrics.
[Family Office 5] Embrace A Growth Mindset
“I’m here to help your business get to the next level and capital is only one part of the equation. I look for coachable entrepreneurs because I also have a wealth of experience and advice that will help you make the most of that money.”
Remember that interested or committed investors have a stake in your success. They will typically be eager to offer support when you face challenges, whether in the form of financial support, advice, or connections to advisors and experts in their network.
[Family Office 6] Play The Long Game
“I’m dedicated to making informed, smart choices to create change, just like the entrepreneurs. We have aligned objectives and we’re in this together to work toward a better future.”
With each family, keep a record of what excited them most when they first came on board. Take into account their communication preferences and consider what a personalized approach might be for staying in touch and keeping them informed on your progress.
Once you have an engagement plan, put systems in place to keep it on track. It could be as simple as scheduling a reminder in your calendar to reach out at the investor’s desired frequency. Finally, keep your eyes and ears open to receive feedback about their desired level of involvement as time goes on.
If you only take away one piece of advice, it is to step into the shoes of the investor and consider what would make most sense from his or her perspective.