Business Startup Classroom: The biggest achievement of every startup founder is to get the right amount of money for his startup at the right time, but the question is whether we should take funds from every investor, or should we say whether every investor or investment firm Right for Your Startup?
So the answer is no-
Just as it is very important for an investor to choose the right startup, similarly it is equally important for a founder to choose the right investor. So let’s try to know in this article who can be the right investor for your startup.
Remember, you do not need only money, but along with funding, if your investor has understanding of your industry then it is icing on the cake moment. Whenever you find an investor, do see how much they understand your industry, where their past experience has been, whether they have knowledge and understanding of past changes in the industry, upcoming changes and changes happening on a daily basis. Is. With all these things, you can get not only an investor, but also a mentor, everything is not possible alone in the startup journey, you need necessary advice from time to time, in such a situation, if you are getting that mentorship from your investor. If you have then you will become a solid team which can give a new height to your startup by understanding all the problems and possibilities in time.
understanding of management
In a startup, something or the other happens on a daily basis, which you are able to do many times and get stuck many times. A startup needs team management, crisis management, hiring, strategic decisions, funds planning to function properly. In such a situation, if your investor himself has corporate experience, experience of running a startup, making it successful, selling it profitably, then it is a plus point for you, because these skills are priceless, which cannot be learned from any fund, Which comes only from an experience, getting this kind of experience can be very helpful in overcoming the problems that come in your way easily.
network or community access
To grow a startup, funding or network is needed from time to time, many such things can be done very easily when your investor has a right network. In which many things like big corporate deals, legal issues, funding, government machinery, marketing are included. Make sure to know about your investor’s network at the time of funding. The bigger the network, the bigger the option you will have to grow your business.
Everything in startup is not the same as it is shown in ppt or excel sheet, there is a very roller coaster life, that’s why you must have seen or must have read somewhere that only 5 percent of startups can see their second year. Are. There are many such problems of a founder, which he is not able to share with his employee, in such a situation, if you get such an investor, who will not only provide you funding support but also stand by you even when things are not going well. If you are, then your life will definitely become a little easier. Remember, what problems a founder goes through, only a founder can understand in a better way.
Be sure to know about his past investments
It is as important as taking money from them, you can know a lot from someone’s past investment, what kind of company they are investing in, what support they have given. If your investor or investment firm has experience in investing in your industry, you can expect better support, the longer the experience, the better the support.
Lastly, it is important that you not only find an investor, investment firm, but also find an organization or individual who can be your partner in your startup journey, can be your mentor and can provide you with funding support as well as mental support.
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Note: The author is the Founder and CEO of Skilling You, the views expressed are personal.
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