Question: What is one piece of advice you'd give a fellow founder preparing to raise a Series A for the first time?
Question: What is one piece of advice you'd give a fellow founder preparing to raise a Series A for the first time?
Be Pitch Perfect
"While knowing your numbers inside and out (as well as proving your concept prior to pitching) is absolutely crucial, you must develop a pitch that "sells the shave not the razor." This means a succinct, well-considered presentation that appeals to multiple personalities. Investing in professionals to design your powerpoint is also an excellent idea (i.e. copywriting, logo, branding, etc.)"
@nicolemunoz
Keep Those Google Alerts Coming
"Market trends change almost every three days, and the equity that might not have been available for you last week might just materialize this week based on this fact. Do not be the founder who is unaware of new competitors (and their arson) duking it out for the same market—that's perhaps the saddest way to go out. When you're preparing to make your pitch, you can never be too informed!"
@codymclain
Remember That It's Not Only About Money
"When we raised our first large round of capital, we wanted someone from the U.S. with deep connections and experience building e-commerce, global travel businesses and in particular emerging technology markets like the Middle East, Asia and Africa. We realized it's not all about money when we were trying to secure as much capital as possible."
@obinnaekezie
Choose Investors Wisely
"Before raising a Series A, ask yourself if this is the right path for your company. Remember that money is a commodity and you can get it anywhere. When you sign your Series A, you are committing to investors for the long term. Make sure that you check references from previous investments they’ve made and ensure your objectives for the business are aligned."
@aradmand
Remember Metrics are More Important Than Vision
"First, accept that raising a Series A round is going to be significantly harder than raising an angel round, no matter how easy (or hard) that was. Second, practice your pitch relentlessly and discuss strategy with other founders or friendly investors. Third, recognize that angel rounds are raised on vision while Series A rounds are raised on solid business fundamentals and metrics."
@josephwalla
Be Prepared for a Reality Check
"Because it's easier than ever to get seed money nowadays, that makes getting Series A funding harder. If the amount of Series A funding hasn't increased industry-wide, but more companies are getting seed funding, then there's more competition for smaller slices of the pie. Don't be surprised when friendly interest turns into hard interrogations about your metrics and value."
@jaredbrown
Know Your Weaknesses
"No company is perfect. In a seed stage, you can assume that many of the finer details of your company will simply be passed over. Don't bank on that. Habitually create backup slides, and be your own harshest critic. Nothing is more attractive in a founder than self-awareness."
@indicoData
