By Arjun Sondhi
Fundraising can often be one of the most daunting experiences for a startup founder.
The fate of your business rests in the hands of these investors who most likely do not share your passion or vision.
When going after funding for your startup it is essential to remember these four points:
1) Its not personal
More than often you will leave a pitch with a resounding NO. Rather than taking it personal, try to understand the reasons why the VC rejected your business and make the necessary adjustments to your business plan.
It is also very important to remember that not every VC is right and there have been several cases where startups were rejected for funding only to build billion dollar businesses.
2) Be careful how much information you share
When pitching your business you have to be mindful of how much information you share with the investors.
Reveal the necessary information to appeal to the investor but remember that they are also associated with numerous other businesses and you do not want to give away all of your secrets.
3) Research your investors
Don’t just accept investment from any investor.
Reach out to the investors who are experts within your area and who will offer more than just cheques to your business.
4) Don’t rush
Don’t pitch until you are prepared to answer all the possible questions from investors.
First impressions count for a lot and it is better to postpone a pitch until you are ready rather than rush and blow your opportunity.