Get Your First Investor
Are you a business founder seeking to raise external funds for your company? Here, I’m going to walk you through my own proven process you can use to:
Develop and hone your investor pitch.
Build an engaged investor audience.
Start a conversation with ideal prospects.
Turn at least one of these prospects into your first investor.
Executing these milestones and steps systematically will greatly enhance your chances of securing funding for your business.
Each phase is designed to not only attract investors but also to build a solid foundation for long-term success.
Is your business sustainable? a great presentation cannot overcome deﬁciencies in any of these key areas. If need be, therefore, put off your fundraising efforts until your story becomes much more attractive to investors.
Figure out exactly how much capital you should raise and create your milestone chart and funding requirements to reach each milestone.
Develop a prioritized, targeted investor list, supported by a fundraise tracking system and an online data room for due diligence.
Once you have lined up a list of pre-qualified investors, the next thing is to map out, plan and assemble your fundraise materials with your targeted investors in mind.
With a qualified list and a tracking system in place, It’s time to start reaching out, talking to money folks, and build rapport.
Now your fundraise is in full swing, your job is to generate momentum, and the best way to generate momentum is to have a lot of meetings. Every day, every week, until you get commitments from multiple investors.
After you have completed all follow-up actions, and presuming that you have not received a hard “We’re not interested,” it is now time to negotiate and close the deal.
By now, you should have enough working capital to last your 12 to 18 months. If you have any questions about this guide or need help, feel free to reach out.