💸How to attract investments: 10 tips from VC professionals - part 2

"Have a clear narrative, product, proposition, differentiator and a business plan (on how you will spend the funds and what it will bring to the business)"

"Start building and growing your network of investors way ahead of time, by reaching out to investors, and getting their advice and feedback. Do it proactively, don't rely on getting introductions, you will run out of those faster than you think"

"My best advice is to understand what the investor's criteria are before asking them for an investment. Essentially, do research. You want to give that investor no reason to say no when you meet them"

"Meet and engage VCs before the roadshow, so that you can identify the good partners for your business and understand and anticipate their expectations"

"If you're raising capital from VCs at the early stage, I would recommend demonstrating that you have exhausted all avenues of non-vc funding before and have been successful e.g grants, accelerators, universities, loans etc. I like founders who have won funding from these routes before, it shows conviction and that you have convinced others to back your concept before"

"Try to target relevant VCs that invest in your industry and region, and typically process investment sizes that match what you're seeking. Reaching out to all investors via a spray and pray approach doesn't make sense - you could damage your reputation with this tactic. Also, keep in mind that fundraising is a process that takes months, not just weeks, so be patient! You need to build relationships with your future investors first"

"Do thorough research about the investor or VC firm that would be the best fit for your startup. make sure their values align with yours as it would be a tight collaboration and you wouldn't want to work with someone who doesn't care about your startup. Also network and talk to them, you'll get a better idea of who they are like and what their expectations are. find out if they can support you with other things besides money eg. mentorship, support and network"

"Cultivating a successful funding journey as a CEO requires a strategic approach that intertwines passion and pragmatism. Clearly articulate your vision, demonstrating unwavering dedication to the mission. However, avoid getting lost in grandiose ideas; instead, back your vision with meticulous research and data, showcasing a realistic path to profitability and scalability. Investors seek confidence in a well-rounded leader who understands their market inside out. Stay informed about industry trends, customer needs, and your competition. Leverage this knowledge to differentiate your venture and position it as a lucrative opportunity"

"Go beyond money and understand what additional value the investor is bringing to your company and which doors they can open for your team in the future"

"Now more than ever, founders should make sure they understand the VC model and that they fit into it. There's no easy money going around anymore"