Identify a Champion in the Group

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

In raising funding look for those who believe in your project and believe in you.

Don’t spend too much time with those who don’t.

In a group identify a champion who can galvanize others to action.

This is sometimes a lead investor and other times it’s just someone who knows everyone.

In working with a VC group, identify a champion for your deal.

In a VC fund, a partner brings a deal to the fund and works to convince others that this will be a great investment.

It’s their job to sell it to their group.

It’s your job to arm that champion with enough information to win the investment.

This includes updates about the progress of the company.

Updates include progress in sales such as leads generated, prospects moving through the funnel, and closed opportunities.

Updates also include experienced people you are bringing on board as core team members or advisors.

Finally, updates showcase other investors joining the round.

Keep your champion informed so they can convince others to join the fundraise.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

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For more episodes from Investor Connect, please visit the site at: http://investorconnect.org

Check out our other podcasts here: https://investorconnect.org/
For Investors check out: https://tencapital.group/investor-landing/
For Startups check out: https://tencapital.group/company-landing/
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You Need To Have Thick Skin

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

In the fundraising process, the startup founder will hear ‘no’ many times from investors.

For the founder, this can be painful as the startup is their baby.

Investors will say ‘no’ often and in many different ways.

Some articulate it in words while others demonstrate it in their actions.

The founder needs to have a thick skin because not everyone will get it.

Consider these points when hearing a no:

Never take the investor feedback personally -- it’s business.

After each interaction, ask yourself why the investor said no.

Look at the pitch from their point of view.

It’s often the case the investment doesn’t fit their criteria or thesis.

Some investors have finished their funds and cannot take on any more investments.

Other investors don’t understand the space or how that part of the industry works.

Still, others are unsure of the technology behind the startup and want to see more proof.

Each interaction with an investor provides a lesson to learn.

Having a thick skin helps.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

For more episodes from Investor Connect, please visit the site at: http://investorconnect.org

Check out our other podcasts here: https://investorconnect.org/
For Investors check out: https://tencapital.group/investor-landing/
For Startups check out: https://tencapital.group/company-landing/
For eGuides check out: https://tencapital.group/education/
For upcoming Events, check out https://tencapital.group/events/

For Feedback please contact info@tencapital.group

Please follow, share, and leave a review.

Music courtesy of Bensound.

It Takes Seven Touches

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

It takes seven touches to close a sale.

So it takes seven touches to close an investor.

In the selling process, one starts by generating awareness of their solution with the prospective customer.

So in fundraising, one generates awareness with the investor that an investment opportunity exists.

In selling, one pitches the solution.

So in fundraising, one pitches the investment.

In selling one follows up to answer questions about the product.

So in fundraising, one follows up to answer questions about the startup.

In selling one reminds the customer that the product is still available.

So in fundraising, one reminds the prospective investor that the fundraise is still open.

It takes several touches to close a customer as they need to convince themselves that this will work.

Fundraising is no different.

The investor needs to work out in their mind that this will be a successful investment.

Consider how you will execute seven touches for each investor on your fundraise.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

For more episodes from Investor Connect, please visit the site at: http://investorconnect.org

Check out our other podcasts here: https://investorconnect.org/
For Investors check out: https://tencapital.group/investor-landing/
For Startups check out: https://tencapital.group/company-landing/
For eGuides check out: https://tencapital.group/education/
For upcoming Events, check out https://tencapital.group/events/

For Feedback please contact info@tencapital.group

Please follow, share, and leave a review.

Music courtesy of Bensound.