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.

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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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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.

Recruit an Expert To Help With the Fundraise

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

In the fundraising process, the first-time founder is at a great disadvantage.

Investors and other startup founders have experience raising funding.

The investors have seen many startups, founders, and deal structures.

They have the experience from those prior engagements.

The first-time founder does not.

It’s important to recruit an expert to help with the fundraising.

This is someone who has seen many deals before and can coach the first-time founder.

Here are some key areas of expertise they can provide:

Deal structure -- there are several ways to set up an investment including type of structure, terms, and conditions.

Positioning -- an investment can be positioned in many different ways. Choosing the correct positioning for the investor is important.

Pitching -- an expert can help the founder with pitching the deal so it appears polished and professional.

Pitch deck - an expert knows what information the investors want to see and can help raise the quality of the deck.

Diligence -- an expert knows what information the founder needs to prepare.

There are standard practices in the fundraising process.

The first-time founder should look for an expert to help with the fundraising.

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.