How To Simplify Your Startup Fundraising

This piece was derived from Michael Seibel’s talk at Startup Istanbul 2014

Fundraising! Typically companies will come to YC and ask how do we start fundraising and the number one thing we say to them is that if you don’t need money people love to give it to you. So how do you put yourself in the position of not needing money? Let’s not start the company with a one million dollar marketing and advertising plan, right you need  money for that. Think about how you can structure the company so all you have to do is pay for the living expenses of the founders.That’s it. Hopefully your MVP requires so little money to get up and running then you can produce some growth without needing it. So you having problems fundraising? One, are you growing? I should have asked have you launched? if your launch plan requires fundraising change it. Two, are you talking to the right Investors jobs is to wake up every morning to find a company to invest in. That’s their job. They try to trick you into thinking that their job is to sit at their desks and wait for you to walk in the front door but that’s not their job. So you need to be getting the word out about your company so that they hear about your company from someone else not just you. Three, build momentum make sure you are talking to as many investors at the same time as possible. Sometimes this means cheating. Like often times this means doing stuff like telling the investor you’re really busy and you can only meet a month from now. Seek and find a home on finding other investors for that week. That’s totally fine. It is totally fine. The last thing is that try to focus on people especially for your first money people who understand your problem because they’ve had it. or they can have it right now. Oftentimes customers and potential customers can be great initial investors at early-stage.]]>

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