Is it me, or are the startup connectors – I.e., lawyers, tech bankers, and contractual CFO- not knowing what is going on in their respective markets. I have been showing lists of startups that have received funding in their backyards to get connected. These connectors will always say they know every deal in their geography, but after I show them the list, they are dumbfounded that they can only usually identify one or two out of twenty-five.

I am contributing this to COVID. Lack of startup events has led to a loss of connectivity within startup ecosystems. Also, I believe there is just a lack of desire to create in-person relationships due to everyone feeling they are accomplishing much more from zoom meetings than having to travel.

Lawyers are busier than ever with all the M&A activity, so I am chalking up their inability to identify startups as the lack of needing new business. If they are working on current client work, their new business development will likely suffer.

For this, I am grateful that we adopted an outbound strategy and business development efforts to our deal sourcing. A lesson learned is always to diversify efforts.