I’ve written several posts on how entrepreneurs should strive to build genuine relationships instead of just “networking." As entrepreneurs, you should be obsessed with data and KPI’s (Key Performance Indicators) in your business. Why not measure your business relationships with the same structure? Sure you have Hubspot, Salesforce, and other tools to track leads, but when it comes down to genuine relationships that you’ve been nurturing, there’s only one KPI that will tell you instantly where you stand, and that’s–communication.
During my last conference at SXSW, I had the chance to chat with Ryan Leslie; music producer turned entrepreneur and founder of SuperPhone. SuperPhone is the Salesforce for your most meaningful connections. If you’re running a business, nearly everything comes down to building relationships. We all get tons of emails or LinkedIn messages, and I’m personally hesitant to give my cell phone number out to people. Ryan, on the other hand, posts his number on all of his social media accounts and prides himself on being available to anybody. He originally came up with the concept of SuperPhone to better keep in touch with his fans. He states that he felt wildly disconnected. He quickly realized that this wasn’t just a challenge for him and other artists but for other entrepreneurs and executives as well.
Having followers isn’t the same as having genuine relationships. Ryan described what he likes to call the pyramid of intimacy when it comes to relationships.
- Social media would be at the bottom in terms of interaction and the ability to connect.
- Social media DM’s or direct messages would be a layer above that because now you’ve initiated a dialog in somewhat of a private setting.
- Email is still one of the most effective communication tools out there for meetings, proposals, etc.
- Text (or actual phone calls) would fall in afterward. (And honestly, it’s my assumption that if you have my cell phone number at some point, we will connect again in person.)
- Then you have the irreplaceable in-person interaction.
When I researched SuperPhone there was one line that stood out to me the most:
Leverage social networks, don't rely on them.
Social media has made us passive associates and friends. It allows you to troll your friends without truly engaging with them. Commenting on something can be nearly the same as having a conversation. As an entrepreneur, I’ve found that just a random check-in text to an old friend does wonders. At some point, we all need our network involved in our business. Having a way to genuinely connect with people based on where we met and our shared interests adds significant depth to our interactions. This is where SuperPhone may come into play.
The Ability to tag people where I've met them.
I go to a conference almost every month, and I’m constantly at events. Being able to hit up the people that I've met at Summit, SXSW or Worldz based on said location is great for me since those are conferences I rarely miss.
Geotagging a person based on their home location.
Being able to tag people by their geolocation helps for when I’m in NYC and have some free time for a drink—I can ping my NYC people.
Never lose touch.
One of my pet peeves is when I reach out to someone I haven’t talked to in a while, and they reply, “Oh, I was thinking about you the other week.” That is a great condolence and all, but they never called, sent a smoke signal, or emailed. I think we’re all guilty of that, however, and with SuperPhone we will able to create a timed sequence by hours, days, or months to reach out to that person that’s been on your mind.
SuperPhone raised around $5.5 million for its seed-round and is now going on to raise a Series A to make SuperPhone even smarter.
I always leave a conversation having learned a lesson. In addition to learning about Superphone, Ryan shared some insight on raising money as an entrepreneur.
-Investors aren’t just investing in your current product but in what it will become, what you will do in the future, and the impact your company will make.
-Reach more people and help them in some way. This is what makes your product or concept valuable and will only serve to create more value for the investors.
Ryan suggested that you think about these three questions when raising money:
- How clearly have you thought about the challenge or problem that your company aims to solve?
- How well have you built the solution?
- How clear is your vision for the future?
Ryan has built a pathway to help stay in touch with your colleagues, mentors, and associates. This has the potential to be extremely impactful in growing your business. I’ve never met a founder that has created it all by themselves. Every business is built on relationships, and if you’re not investing in them, you’ve taken the road towards failure. Take the time to invest in relationships, and I believe you’ll see your business grow.
