Things to keep in mind during fundraising for early stage founders.
1) It is very important to know/understand when is the right time to raise funds. Don’t raise at the last minute else you won’t have any leverage. Also consider there may be multiple ways to increase your company’s cash including debt options
2) In the struggle between balancing funds and growing customers, try to focus on growing customers using any means necessary. Remember if there is growth, funds will follow.
3) During the process of raising funds, anything could go wrong. Don’t rest just because you have a signed term sheet. It’s never over until the funds are in your bank account.
4) Having some kind of leverage is the most important thing while raising funds.
You can have leverage if,
a) your growth is strong
b) multiple VCs are interested in putting money creating competitive situations
c) founders have a history of building successful companies before
1) It is very important to know/understand when is the right time to raise funds. Don’t raise at the last minute else you won’t have any leverage. Also consider there may be multiple ways to increase your company’s cash including debt options
2) In the struggle between balancing funds and growing customers, try to focus on growing customers using any means necessary. Remember if there is growth, funds will follow.
3) During the process of raising funds, anything could go wrong. Don’t rest just because you have a signed term sheet. It’s never over until the funds are in your bank account.
4) Having some kind of leverage is the most important thing while raising funds.
You can have leverage if,
a) your growth is strong
b) multiple VCs are interested in putting money creating competitive situations
c) founders have a history of building successful companies before
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The eChai Effect - In Their Words
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Founder- Hungrito & Netsavvies. Digital Marketing Evangelist
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