587: David Kidder | How to Raise Money Through Networking

It’s no secret that it takes money to make money, and David Kidder has a strategy that will propel you forward to gain the capital you need to either start or scale your business in a way that I think we are all familiar with by now but with a perspective you may not have thought of. 

David Kidder is an entrepreneur, keynote speaker, and an angel investor in over 40+ startups. He is currently the co-founder and CEO of Bionic, which unlocks new growth for the world’s largest enterprises, based on the tools of venture capital and entrepreneurship. Previously, David co-founded SmartRay Network and he is the co-author of the New York Times bestselling series, The Intellectual Devotional, and The Startup Playbook.

With such a rich resume and wealth of experience, I’m excited to dive right in and learn more about how to raise money through networking from the master himself.

Things you will learn in this episode: 

[00:01 - 06:06] Opening Segment 

• Sponsored ad  
• I introduce today’s guest, David Kidder
• Angel investor 
• CEO of Bionic
• Author
• Be sure to check out guestio.com and start booking
• David gives us some background on his story 
• Grew up in upstate New York 
• Lack of resources growing up 
• Opening and closing doors
• Finding purpose in the time you’re given 

[06:07 - 14:50] Finding Your Path, Passion vs. Obsession

• David talks about finding your path 
• Don’t chase money or opportunity 
• What do you care about, and why you? 
• You can’t fake it 
• The difference between passion and obsession
• How you want to spend your time vs. HAVING to do something 
• Passion doesn’t ask the hard questions
• Obsession causes you to care more about the outcome
• David shares about tools to deal with stress 
• The kinds of fear 
• Zero-sum fear leadership 
• Leading yourself 
• The importance of mindset 
• Time, place, and talent 
• A word from our sponsor

[14:51 - 28:12] How to Raise Money Through Networking

• Who you know or what you know?
• What you know
• Relationships have to come from a place of giving value 
• The ‘what’ is knowing yourself
• David’s tactics for people raising capital through building relationships
• What you do to create value - the follow-up 
• The lure you use - stating what you care about to attract the right people
• Knowing what you care about 
• Being able to ask for something 
• Asking creates intention which creates conversation 
• Energizing outcomes 
• Closing someone on your ideas 
• Capital raising is a full-time job 
• What is the strategy 
• Understanding the goal and jobs of the investors 
• The questions to ask

[28:13 - 35:02] Closing Segment

• A relationship that changed your life
• Surprising Investment relationships that created value for David 
• David talks about the tests of relationships
• People who are all in 
• RaNDoM RoUnD
• How to engage with David 
• Links below
• Final words 

Tweetable Quotes: 

“Some doors that close are simply because of effort… and some others doors open because of other things like I was good which was creating.” - David Kidder

“It's sort of like a lure, you only want to catch certain types of fish… Being out there and stating what you care about for people to find you is the first step.” - David Kidder

“How can you create value for them [investors] if you don’t understand their job; what their goal is? I think it’s really important to understand the jobs around the table and the outcomes of the goals.” - David Kidder

Resources Mentioned:

• New to Big
• The Startup Playbook

Connect with David on Twitter and LinkedIn. Go check out https://www.davidskidder.com/ to unlock growth and go on the offensive! 

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If you want to learn how to build YOUR network, check out my website a travischappell.com. You can connect with me on Facebook, Instagram, and Twitter. Be sure to join The Lounge to become part of the community that’s setting up REAL relationships that add value and create investments.

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