Top 10 Fundraising Tips Women 2.0
The document provides advice for startups on fundraising in Silicon Valley, including understanding the region's networks and influencers, getting experienced advisors, preparing a thorough business plan and presentation, recruiting a lawyer with strong connections, targeting specific venture capital firms that specialize in their industry and stage of business, getting warm introductions through advisors or lawyers rather than cold calling, auditioning with lower priority investors first to improve pitch skills, investigating reasons for rejections to refine fundraising efforts, maintaining a solid pipeline of interested investors, and letting passion shine through while preparing for a difficult process that requires dedication from the founder and team.
Top 10 Fundraising Tips Women 2.0
- 2. Understand Silicon Valley Most VC money is in Silicon Valley Need to understand how things work and happen here There are influencers & networks you need to navigate. 2
- 3. Get advisors Many challenges you will need help Best advisors are experienced entrepreneurs People with strong Silicon Valley networks Recruit with your passion and vision 3
- 4. Prepare your plan and presentation Preparation for VC meetings is very important Build your strategy, plan, financials, and presentation Figure out how much money you need to raise now and over the life of the company Practice with friends and advisors 4
- 5. Get a Great Lawyer Need a great lawyer to support your company One that has great network Strong partner who will get involved with your company Consider delay or reduce fees until you get funded 5
- 6. Carols Law 10 really successful first meetings with qualified investors 5 investors doing due diligence 3 term sheets 1 close Key is solid pipeline and momentum. Expect fall out 6
- 7. Target specific VCs VCs who do your stage, have money, havent invested in competition, good rep, like your category. Have they invested in a women entrepreneur before? 7
- 8. Warm introductions only Not allowed to do cold calling Get advisors or lawyer to make an introduction and encourage them to meet with you. 8
- 9. Audition with an investor you dont want Force rank your VC targets and do a few low priority investors first You will learn a lot in the first few meetings youll get better 9
- 10. Investigate the NOs Expect some rejection part of the process. You need to know why they said no. The real reason. Helps you refine your fundraising efforts. Painful but do it. Listen to all, take advice from experts only. 10
- 11. # 11 Obopay Confidential
- 12. Final thoughts Let your passion come through to potential investors Not everybody will be sold, dont let that discourage you or your team.Your job is to find the investors, advisors, and employees that will help make this happen. It is not a popularity contest. Dont tell investors know who else you are talking to if they join together it reduces the count in your pipeline. You can be successful but be prepared to work very hard. You will need to get your team to step up because your fundraising will take time away from building the business. 12
- 13. Follow me on TWITTER - @carolrealini 13