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A lot of people have recently reached out asking questions and advice on fundraising. So I am compiling a thread on my experience as a first time entrepreneur. 1/10
#startups #funding #fundraising
#startups #funding #fundraising
1. Outreach: We know getting intros is the best way. But if you don& #39;t have the network, always, always personalize your mails! Make them succinct! Make sure you stand out! Make sure you tell the investor why he needs to listen to you. 2/10
2. Build a brand: Without spending money. At @Localeai, we started writing about our story, experiences, our problems & challenges. This led to a lot of investors reaching out to us directly! 3/10
3. Pitching: I hate the word "pitching". I always went to a meeting with the money of having a nice conversation & enjoying it thoroughly. I never used PPTs because I liked the idea of free floating conversations. 4/10
4. Choosing VCs: My best memories from the experience was brainstorming with investors. Don& #39;t just take no- ask why. Ask them why you will fail. I chose an investor who I loved brainstorming with. 5/10
5. Process: It& #39;s definitely a draining process but teaches you a lot. When you& #39;re building something new, you will find a lot of people who you don& #39;t believe in what you& #39;re doing. Just need to find out the select few who do! 6/10
6. Sales vs Investment Pitches: This is a subtle one. You need to make the use cases for investment as broad as possible whereas with sales, as personalized as possible! 7/10
7. The problem: Even though you probably would have never done this before, but if you really care about the problem, the passion shows & sometimes that& #39;s enough. 8/10
8. (Last tip) Customers: Nothing can beat this! The more you know about your customers, the stronger you become. Nothing can beat this, trust me!
Knowledge feeds into confidence & vice- versa. 10/10
Knowledge feeds into confidence & vice- versa. 10/10
9. (+1) Bonus one on investors: Don& #39;t let investors drag you along. The best ones always tell you within 2-3 meetings. Make sure you keep asking them how the decision making process is!
