While most entrepreneurs never raise money from professional investors, many first time founders want to understand how the process works. Having met with a lot of people eager to learn how they can raise money for their startup idea we decided to record a new series called Fundraising 101 to dispel some myths around the process and provide a template for those that think this is the right step for their business.
Part one of our series focuses on what you need to accomplish at minimum before you’re ready to approach investors. We discuss the three areas of traction to focus on – Team, Product, and Customers, and why investors invest in lines not dots (ie: consistent output and growth, not individual indicators of success).
We also discuss our experience with fundraising for our tech startup and what we could have done differently. In part two we’ll explain how you can quickly setup meetings with professional investors through both cold and warm outreach.