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Who Are The Best Investors For Your Startup?
One of the biggest mistakes I see startup CEOs make when they attempt to raise money is reaching out to investors they have zero chance of raising money from. The result is you lose precious time and significantly reduce your chances of raising money.
I’ve been involved in countless fundraising efforts, raising rounds of between $50,000 and $150 million. I know how to develop a targeted investing strategy that works. I’ll share my ten step strategy to developing a focused fundraising strategy that will give you the best chance of success.
I hope you like it.
Let’s get started with number one our list…
1. Know your limitations.
I was in a discovery meeting with a potential new client, and “Scott” told me that he wanted to raise $100 million. I asked him why he thought that was the right number? Scott said, “That’s the amount of money I need.”
That’s great, but investors don’t care. In other words, just because you want to raise $100 million, doesn’t mean you can raise $100 million.
Most of us are not Sam Altman, so we can’t raise unlimited sums of money. We have to figure out how much money we can raise, and what we need to achieve in order to convince investors, whomever they might be, to write a…
