In this episode I want to address a question that I hear often: does every startup need to raise money? Why is everybody talking about fundraising?
It is important to understand if and when you even should raise money. If you need money. Want money. What the consequences might be. And what the investor's expectations will be.
I try to dissect this question by offering four ways of looking at it.
Add this strategy on top of the one I shared with you last week. And you will boost your pitch success before you even start to talk on stage.
More pitch, startup and fundraising tips on: www.GetFunding.how
Ben Ruschin is Cofounder and Managing Director of WeAreDevelopers, a platform for developers to find great projects and job opportunities.
You may also know the largest developer conference in Europe with over 10.000 participants, under the same name.
Ben shares insights into the world of technical cofounders and developers, and stories from his own entrepreneurial journey.
All episodes on iTunes.
Ingrid Haug is one of the most knowledgeable people on design and user experience in the Nordics. She hosts the annual Design Matters conference (designmatters.io), where the head designers of EA Sports, medium, mindspace, N26 and amazon share their insights.
Ingrid has been working in, with and for small and large companies on design and user experience.
She shares actionable advice on how startups (and any product-centric company) can implement their design and user experience strategies.
Ton van t' Noordende is one of The Netherlands' most active startup players. He is well known for organizing Angel Island (www.angelisland.co), and running 01Ventures where he focusses on Deep Tech investments.
Ton has visited 70 startup cities worldwide and has distilled the success factors of those hubs down to a mindset that he actively tries to spread.
We talk about trends in Deep Tech, the fact that so much venture money is available, what we can learn from Silicon Valley and Tel Aviv, the hidden startup gems in universities, and much, much more.
How do you "get outside our comfort zone" as founder? Should we even go there, or are we sabotaging our own energy that way?
And what about those founders who seem totally fearless?
Valentina shares her own experience and her insights into the Slovak and CEE startup ecosystems.
...and we get some amazing tips for great drinks and food in Bratislava, in case you visit for the FutureNow Conference, or some other time.
Open your pitch the right way in order to give yourself the credibility and expert status that will help you deliver your message and get people excited.
More knowledge and strategies on www.GetFunding.how
Add this little "super-charger" to your pitch to make investors take action much faster.
Most founders forget to practice the Q&A as much as they practice their pitch. When you go on stage, you will pitch for 2-3 minutes - but then you will have to answer questions (Q&A) for 3-5 minutes. Guess which part is easier to screw up? Correct: the one where you DON'T know what you will have to say, because you cannot control the answers you'll get.
In this episode I share some thoughts about how you can prepare for the Q&A and WIN pitch competitions.
A topic that is rarely discussed, but that can really hurt us as founders. When Angels, who invested in our startup, are afraid of VCs.
At yesterday's Investors Day, there were a few presentations and panel discussions, where this point became apparent. And I wanted to relay some of the valuable information that was discussed among investors at this event.
Plus point out some strategies how we, the founders, need to act to protect ourselves and our startup from hidden agendas of Angels and VCs.
How much information should you share with investors? What should you do when an investor asks you to send them all kinds of detailed data, contracts and confidential information?
In this episode I cover four aspects that you should consider before you share information with investors. Strategies that save you time and make sure your information is not mis-used.
And I share a tip for a tool that can help you a lot.
Strategies for when you reach out to mentors, advisors, investors, etc. before a conference, trying to get them to agree to a meeting at the conference.
I'll share some of the contact request I have received for this week's Pioneers conference; I will analyze what was good, what was bad, and how you can do it better; And I will share general advice and strategies to make your outreach messages more successful.
I see it too often: founders and their startups that are NOT represented well on LinkedIn.
In this episode I share a few of my observations about how founders fail to present their startup on LinkedIn; how they present themselves; and why "too much action" can be bad for your LinkedIn profile, too.
As mentioned in this episode: you can email your questions for the show here: firstname.lastname@example.org
Please leave an honest rating and review on iTunes or your favorite podcast platform, if you like this show!
There is a huge difference in pitching to a VC who is a former banker or consultant; compared to pitching to an investor who is a former founder or techie.
And founders should prepare accordingly!
The product demo plays a completely different role in those two cases.
Let me share how I learned this lesson on my fundraising, and some strategies and ideas to best pitch to either type of investor.
I call it the "Target List" - and it will be one of the most powerful tools you have to strategically build a successful fundraising campaign!
You should work on this before you start fundraising! But it is also sometimes the best and only way out, when you are "stuck" in your current fundraising.
When I meet founders, who are "stuck" in the middle of their fundraising, unable to get an investor to say "yes", often the source of the problem was a missing or weak Target List.
In this episode I'll explain:
Whenever you meet or get in contact with an investor: ALWAYS FOLLOW UP!
No matter if the investor loves your idea or didn't care at all.
By using this 2-step follow-up strategy, you can make sure to stay on the radar of the investor, start building a relationship, and possible turn a NO into a YES.
Because: relationships are not about who YOU know - it is about who knows (and trusts) YOU!
In this podcast episode I share this simple 2-step strategy, giving you concrete examples of how I implemented them for my own startups, and for startups of my mentees. And I share a story where an investor who first said NO, came back asking if they can still invest. ... I suppose you can imagine how good THAT felt! :-)
Mentioned in this episode:
Set a specific date, when you consciously start fundraising. The date when you switch from "Preparation" to "Execution". The date when you start pushing out to get meetings with all the investors on your "Target List".
Before this date (let's call it "F-Day"), you
Once F-Day has come, you switch gears, focus on execution of the fundraising, and change the story you communicate to the market.
Failing to be clear about this can hurt your funding opportunities.
In this episode I share, when F-Day should be, what to do and say before F-Day, and what to do and say after F-Day.
Join one of my free live webinars + Q&A this and next week!
Go to www.FundraisingMasterclass.com to join!
This episode was inspired by a pitch I commented in my live analysis of the Austrian version of Shark Tank, called 2 Minuten 2 Millionen.
A startup called Frozen Power had flat revenue growth. But they had a hidden "story within the story" that they didn't really pitch, but with which they could have gotten a lot more attention an investor interest.
So, if YOUR startup has revenue or user growth that is NOT very exciting, maybe you, too have a "story within the story" to be discovered.
In this episode I explain how this pitch strategy works.
Links to things mentioned in this episode:
How you can make sure to get your key points, messages and claims across to investors with your pitch deck. Especially, if you send that pitch deck out per email.
This episode was inspired by a coaching client of mine. They prepared for raising €10m and we worked through their fundraising strategy and pitch material.
The pitch deck looked beautiful. But: the real important facts were hidden in long lines of prose text in those slides. Just like Easter Eggs, I had to dig to find them.
In this episode, I share with you:
In this episode I share my personal experience about
As mentioned in this episode, let me know what YOUR startup city is particularly good or bad at. Write in the comments!
In this episode I answer a listener's question (click here to send me your question) about Term Sheets.
I highlight 5 key points you need to be aware of, so that you don't sign a Term Sheet too early and reduce your chance of getting a great funding deal.
Mentioned on the show:
More content, free eBooks, blog posts and more: www.getfunding.how
In this episode I talk about:
1) one fact you need to know about how investors work and think that explain why they love to wait (and not invest in your startip), and
2) one powerful "sales psychology" that you need to know and understand, so you can manage to break the investors' waiting habit
I also relay a story Oliver Holle, the CEO of VC firm SpeedInvest shared, that gives an amazing insight into this psychology of waiting and acting.
Oliver: thank you for sharing this story and giving me the chance to relay this story to the startup community!
Links / mentioned on the show:
More of my content, free eBooks, blog posts and more: www.getfunding.how
2 strategies to avoid looking like a startup that is failing to get a funding done.
I talk about:
1) how to time your fundraising to avoid this, and
2) how to pitch in a smart way so that you don’t give the impression of being desperate to raise money, but instead look strong and confident and even trigger investors to start to chase you.
Mentioned on the show:
Other Links mentioned:
More of my content, free eBooks, blog posts and more: www.getfunding.how
Without a high level of credibility, you will have a very hard time getting a funding deal.
Especially in the first presentation, you need to establish your credibility in the eyes of the investor FAST.
In this episode, I'll share 3 concrete tactics that you can apply to your current pitch, that will help you boost your credibility.