In this podcast I provide 5 tips for getting investment ready. As you move from the Minimal Viable Product phase to the Product Market Fit phase you are more than likely going to require capital to achieve the next phase of growth in your business.
Therefore, if you are going to go out and raise capital you will need to be 'investment ready' Here are some tips to help you.
Make sure you are raising capital for the right reasons.
a. Your pitch is a critical moment in your business. Make sure you are raising capital because you are ready to raise capital not because you need to.
b. Stress test the need to raise capital against continued bootstrapping .
c. Decide how much equity or debt you are prepared to accept.
Be Clear on the type of investment you are after.
a. Understand how much funding you need.
b. Choose the best funding model to fit your business.
c. Do your research on potential investors. Make sure you align with them and they align with you.
d. Understand that timing can play a massive part.
Have something tangible to demo.
a. Demonstrate Problem Solution Fit.
b. Aim for emotional attachment to the solution and business.
c. Show working MVPs if possible.
d. Show evidence of product market fit.
Have your investment collateral ready.
a. Elevator Pitch.
b. Pitch Slide Deck (soft and hard copies), include the ‘ask’.
c. Business Plan.
d. Financials (P&L, Cashflow).
Remember, investing is emotional.
a. They are investing in you, not just your business.
b. Put your best foot forward including your team.
c. Be prepared for negative feedback and tests.
d. Accept criticism but don’t be a pushover.
e. They will be trying to gauge the personalities of you and your team.
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Take care,
Alan
Alan Brannigan
Husband, Father, CEO, Entrepreneur, Tech-Geek, Crypto Enthusiast, Believer in Freedom and Liberty
Email: nalabra@protonmail.com
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