Why is this Important? You will need funding to take the company through the concept validation stage and leave sufficient time to raise additional funding.
|Things to Consider
|Educate yourself on general terms and instruments used in early stage funding
|Understand common financing terms (i.e. pre-money valuation) and those used in term sheets
Study various financing vehicles (Notes, Equity)
|Financial Terms Definitions
|Create a 10 min investor pitch suitable for raising money
|Are all your assumptions covered?
The Feasibility Report and the investor pitch should compliment and match content
|Pitch Deck Template
|Practice pitch in front of experienced investors
|Expect & encourage questions. Are all of them addressed in the pitch?
Plan to iterate the presentation many times before actually pitching
|LSWI Pitch Coaching and Consulting
|Put together a budget that will get you through Concept Validation and Series A financing
|Try to be a virtual company as long as possible
Only spend money on things that create value
|Startup Financials Template
|Identify potential investors:
Non-Dilutive Funding: Government grants, etc
|Good investors bring more than money to the party i.e. expertise, network, credibility, etc
|WA Investor Database
|Raise enough money to get you through Concept Validation and to Series A financing
|Don’t try to raise money before you firmly understand your final value proposition
Do you have a valuation?
Take money when it is offered and, if possible, take more than you think you need.