FINANCE
VERY FEW SMALL businesses can make it on self funding alone . Not everyone has millions of dollars saved up to start their company off with full coffers . Luckily with startups popping up left and right , there is a lot of attention on who raised how much money how quickly ; this can give you and your business an idea of what it can accomplish . However , there ’ s a lot to learn before running a successful fundraising campaign , and there are a lot of ways to mess it up .
The first mistake : thinking it ’ s easy . It seems like there is news every day detailing a startup ’ s success at raising millions of dollars even before its fundraising period closed . But laying the groundwork for raising capital is just as important — and intensive — as laying the groundwork for your company . In the same vein , it also takes a tremendous amount of support .
Regardless of whether a company is attempting to raise just a small amount of startup cash or millions of dollars from investors , the following challenges and mistakes could pop up at any time .
Ignorance Isn ’ t Bliss A business ’ s best chance of reaching its fundraising or investor goals is by
The research portion of your fundraising efforts is just as important as that pitch meeting with investors .
being as educated as possible before jumping in . A hastily-made finance plan likely will not get your company where it needs to be . The following are a few things leaders might overlook or not spend enough time researching before jumping into the fundraising pool .
Businesses are not clear on their vision . It would be very difficult to expect someone to invest in a company when the person selling
14 November 2014