062: Uncommon Fundraising Advice
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Steli and Hiten share some uncommon nuggets of wisdom about fundraising for your company. These practical tips will help you approach fundraising in a smart and professional way. Tune in and take notes as Steli and Hiten hit the following topics:
- Don’t over value one investor over the others. — Your business will change and investors will come and go.
- Inform yourself. — Do your homework and learn how to fundraise.
- Communicate with founders, not investors. — Develop a relationship with founders and eventually ask for an introduction.
- Ask before you begin your fundraising. — This makes the investor feel special and important to the project.
- Use your story for the sale. — Why are you doing this? Answer that question and you’ll have your pitch.
- Don’t be a yes man/woman. –If an investor asks if you would be open to another platform or different direction, be honest in your answer.
- Make sure your business is making money while you fundraise. — A team should not sell together. Each member should have their job and stay in that realm. Fundraising should be done by one person.
- Don’t gloss over or avoid major issues. These are things that may send red flags up to investors. Address the problems and be assuring.
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