We’ve all been there: Making a costly and even embarrassing fundraising mistake. You’ll make more, too, but you don’t have to make these 13 blunders! Learn the easy way and avoid some key whoppers that business owners are still reeling from. The Next Web asked me and 12 other entrepreneurs what our biggest fundraising regret was. Mine involved having totally different expectations than my investors. Investors are notoriously slow, even after contracts are signed. They can take weeks to clear funds.
I didn’t realize this when I first started working with investors—and I ran out of money two weeks after the contract was signed. You absolutely need to be on the same page, and these details should be outlined in the contract. Other investors recall waiting for the next big milestone before thinking they were “fundraising ready.” Fundraising is like having a baby. There’s never a great time.
You also don’t want to go in without knowing your audience. That can lead to a lot of frustrations and double work. Avoid moving too slowly, since you have to remember that investors are already slow enough! Finally, don’t over-worry yourself with details. Yes, they’re important, but if you focus on them obsessively you might never get the job done.
For more tips, read the whole article:
