How can you build a network of deal sources outside of your immediate geographic area?

2 Leverage your existing network

One of the easiest ways to build a network of deal sources outside of your immediate geographic area is to leverage your existing network. You can ask your portfolio companies, co-investors, mentors, advisors, and peers for introductions and referrals to relevant contacts in other regions. You can also use online tools like LinkedIn, AngelList, and Crunchbase to find and connect with people who have shared interests, backgrounds, or affiliations. You can also join online communities, groups, and forums that focus on specific sectors, stages, or regions.

4 Follow up and nurture relationships

Building a network of deal sources outside of your immediate geographic area is not a one-time effort. You need to follow up and nurture relationships with the people you meet and interact with. You can use email, social media, phone calls, or video calls to stay in touch and provide feedback, advice, referrals, or support. You can also use tools like HubSpot, Mailchimp, or Calendly to automate and streamline your communication and scheduling. You can also share relevant content, insights, or opportunities that might interest or benefit your contacts.

5 Be visible and credible

Finally, to build a network of deal sources outside of your immediate geographic area, you need to be visible and credible. You need to establish yourself as a trusted and respected partner for entrepreneurs and investors in other markets. You can do this by creating and sharing valuable content, such as blogs, podcasts, newsletters, or case studies, that demonstrate your knowledge, experience, and vision. You can also showcase your portfolio, track record, and testimonials from your founders and co-investors. You can also participate in media interviews, podcasts, or guest posts to amplify your voice and brand.

Building a network of deal sources outside of your immediate geographic area can help you access more and better opportunities, diversify your portfolio, and expand your influence. By following these tips and strategies, you can connect with the right people, build trust and rapport, and generate quality deal flow in other regions and markets.