How can you build strong relationships with investors?

As a hospitality manager, you know that attracting and retaining investors is crucial for your business success. But how can you build strong relationships with them that go beyond financial transactions? Here are some tips to help you network and communicate effectively with your potential and current investors.

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Selected by the community from 9 contributions. Learn more

1 Know your audience

Before you pitch your idea or report your progress, do some research on your investors. What are their goals, interests, preferences, and expectations? How do they like to receive information and feedback? What are their pain points and challenges? By knowing your audience, you can tailor your message and approach to suit their needs and preferences, and show that you care about them as individuals.

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Ashraf Saad

Driving Digital Growth | From Hospitality to Digital Marketing
(edited)
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One thing I have found very important is to know your audience first and do some research about who are they? what are they interested in? And what is their status? This could help you tailor your massage perfectly.

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Fabrice Kalenga Ntundu

Professional Mixologist -Bartender -Barista- wine Steward in Qatar
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Study well your market first. Plan some business strategies and put priorities first regarding the project management side. Do not rush

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Peter Lukacs, MSc

Hospitality Expert
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Before you engage with anyone, observe and do your homework. Do your research, and know with whom you are going to have a meeting. Meaning you can lead the conversation.

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2 Be transparent and honest

Investors value transparency and honesty in their partners. They want to know the real situation of your business, the risks and opportunities, the strengths and weaknesses, and the challenges and solutions. Don't hide or exaggerate information, or make promises you can't keep. Be upfront and realistic about your goals, plans, and performance, and admit your mistakes and learn from them. By being transparent and honest, you can build trust and credibility with your investors, and avoid unpleasant surprises or conflicts.

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Joseph Mmaduneme O.

Concierge Agent
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Its important to " always have a honest communication " . This includes the setback, challenges and good news . Being honest about the company growth and product helps to establish trust.

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Peter Lukacs, MSc

Hospitality Expert
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I always say honesty and transparency is key to success. Treat people the same way as you would like to be treated and they will also recognize and appreciate this approach.

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3 Communicate regularly and effectively

Communication is key to maintaining and strengthening your relationships with investors. Don't wait for them to reach out to you, or only contact them when you need something. Communicate regularly and effectively, and keep them updated on your progress, achievements, challenges, and feedback. Use the channels and formats that they prefer, whether it's email, phone, video call, or in-person meeting. Be clear, concise, and respectful in your communication, and avoid jargon or technical terms that they may not understand. Listen to their questions, concerns, and suggestions, and respond promptly and professionally.

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Peter Lukacs, MSc

Hospitality Expert
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Communication is the key to success. People will realize you care about them and they will be more approachable. Don't be afraid to lead a conversation.

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4 Deliver value and results

Ultimately, investors want to see value and results from their investment. They want to know that you are using their money wisely, and that you are achieving your goals and growing your business. Show them that you are delivering value and results by providing them with relevant and accurate data, metrics, and evidence. Highlight your achievements and successes, but also acknowledge your challenges and areas for improvement. Demonstrate how you are addressing them and what actions you are taking to overcome them. Show them that you are committed to excellence and innovation, and that you are constantly looking for ways to improve your business and customer satisfaction.

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Peter Lukacs, MSc

Hospitality Expert
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Delivering results can be only done, if you have a certain mindset and goals, mind mapping and scheduling, and organization skills.

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5 Appreciate and reward

Don't take your investors for granted, or assume that they are only interested in money. Appreciate and reward them for their support and contribution to your business. Express your gratitude and recognition regularly, and acknowledge their role and impact. Send them thank-you notes, cards, or gifts, or invite them to special events or experiences that showcase your business and hospitality. Ask for their feedback and input, and involve them in your decision-making process when appropriate. Show them that you value their partnership and relationship, and that you are not just looking for a one-time deal, but a long-term collaboration.

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Peter Lukacs, MSc

Hospitality Expert
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Appreciation is always needed to further motivate team members and give them a reward for their achievements and set new goals.

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6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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Peter Lukacs, MSc

Hospitality Expert
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I always consider short and long-term goals as they are needed to be one step closer to every accomplishment. Never feel worried to ask.

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How can you build strong relationships with investors?

1

2

3

4

5

6

1 Know your audience

2 Be transparent and honest

3 Communicate regularly and effectively

4 Deliver value and results

5 Appreciate and reward

6 Here’s what else to consider

Hospitality Management

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How can you build strong relationships with investors?

1

2

3

4

5

6

1 Know your audience

2 Be transparent and honest

3 Communicate regularly and effectively

4 Deliver value and results

5 Appreciate and reward

6 Here’s what else to consider

Hospitality Management

Rate this article

Thanks for your feedback

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