If you’re a small business owner or startup CEO, then you know that one of the most important aspects of running a successful company is maintaining strong relationships with your board members and investors. After all, these are the people who have put their trust (and money) in you to grow the business and achieve profitability.
But what exactly does “strong relationships” mean when it comes to boards and investors? In this blog post, Carl Iberger talks about what board and investor relations are, why they’re important, and how you can maintain healthy relationships with both groups.
What Are Board and Investor Relations?
Board and investor relations are, quite simply, the relationships that you have with the people who sit on your company’s board of directors and/or have invested money in your business.
Maintaining strong board and investor relations is all about keeping these key stakeholders involved and informed about what’s going on with the company. That way, they can provide valuable insights and feedback that can help you make better decisions about how to grow the business. Additionally, happy investors are more likely to continue investing in the company, while unhappy ones may choose to pull their money out.
So how do you keep your investors happy? Here are a few tips:
1. Communicate regularly – Investors want to know what’s going on with their investment, so be sure to communicate regularly about things like financial performance, organizational changes, etc. The best way to do this is through a mix of formal (quarterly reports) and informal (phone calls/emails) communication channels.
2. Be transparent – When something goes wrong, don’t try to hide it – be transparent with your investors about what happened and what you’re doing to fix it. They’ll appreciate your honesty and it will build trust between you and them.
Maintaining strong board and investor relations is critical for small business owners and startup CEOs who want to create a successful company. By communicating regularly, being transparent about problems, and involving investors in decision-making processes, you can create healthy relationships with these key stakeholders that will benefit everyone involved according to Carl Iberger.