Source: Marshable’s
There are many stories of hot startups raising killer seed rounds, and it can feel like money is flowing everywhere. Times might be good right now, but raising external capital is a complicated process, and it’s something every entrepreneur needs to think about carefully. Here are tips that can help you achieve your goals as quickly and pain-free as possible.
1. Be Hungry
As Steve Jobs said, “Stay hungry.”
The first thing that will lead you to success in fundraising (and anything in life) is hunger. The moment you get complacent, the game is over. Naturally, most entrepreneurs are hungry because they have little money, but once things start to look good and investors start showing interest, there is a tendency for entrepreneurs to get excited and celebrate prematurely. The deal isn’t closed until the money hits the bank, so stay hungry.
2. Adjust Your Mindset
Change your mindset when thinking about investors — they are not evil opponents who are out to destroy your business. Instead, think of investors as partners for life, who will continue to back you in subsequent ventures. Changing your perspective will mean you will treat potential investors with respect, and will naturally focus on the value-add they bring beyond just finance.
With a slow economy, starting your own business is sometimes the best alternative than finding a job!
Categories: Business, Internet, Technology