Some entrepreneurs are
quite good at raising funding. They know what to say to investors and they do
the right things. Here are five habits
of successful fund raisers:
1, Set goals—know what
you want from the overall raise and break it down into stages. The entrepreneur who vaguely requests $1M has
not yet thought through the use of funds and most likely needs less to get
started.
2. Stick to budgets—setup
a time budget for raising funding and then stick to it. It’s a daily/weekly exercise – not a some
time thing.
3. Consider the
calendar—starting a raise in the middle of summer or just before Thanksgiving
is going to be difficult. Plan the
launch of your fundraise with the investor’s schedule in mind.
4. Know the target
audience—understand the target investor and what they are looking for. It’s a good idea to see what they have
already invested in and approach them from that angle.
5. Spend time
preparing documents—make sure your documents –executive summary, pitch deck,
and financial projections are ready to go so when an investor expresses
interest you can provide tem.
Fund raising is a
skill just like most other aspects of running a business. These skills can be learned and honed.
Best regards,
Hall T.
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