Welcome back, this time around we’ll be talking about building instant initial funding for your startup, ever had that feeling for your startup where you felt like it wasn’t going to jut work out because you had lack of funds,shortage of financial abilities or even prospective investors just because maybe you didn’t do the right marketing or publicity or even didnt have anything anyone backing you up? sincerely i have had that feeling and i have learnt my lessons and have this t share with you.
There are several ways of gaining fast and initial financial aid for that your reasonable startup,so fast and quick as you might not have imagined,and what are those steps?
Show the dashboard
Does your customer dashboard increase in bars? lets say we’re using a bar chart to track traction and customer retention,does the bar chart increase every month? Are customers on the increase? lets say from 2 to 4 customers, are the reviews positive? Are the customers able to testify about what you offer?
These questions span and go a long way to help VC’s (venture capitalists) and angel investors get interested in you when you take that stance of meeting them, they are more interested in seeing the dashboard on the increase,which supply the idea that if the right supply of attention and energy is given to your startup it would definitely fly, from a general survey by vcconnect, over 80% of sponsored startups show an impressive dashboard.
Now what does this dashboard entail, or is meant to contain? Firstly, the dashboard should show that your startup has had an increase in customers for over the last 30 days, it must have satisfactory service reviews and positive customer reviews,and long lasting position (A non-dying solution,at least for now).
What the heck are you doing?
“Sorry dude, this startup aids kids buy blue toys” this was the startup founder pitch, i guess this was one of the dumbest statement i ever heard in a startup pitch competition, the speaker was congratulated and asked to round up, and then the question thrown to him was “what the heck are you doing”? Now take a look back,how is having a startup that enables kids to buy blue toys capable of changing the world?
Yeah (let me not be too hard on that dude 🙂 its so cool to have a startup that sells blue toys,but is that enough to drive an angel investor tripping for you? infact you wouldn’t gain the blessings of your priest (sorry for that tho’) , kids can buy blue toys anywhere, you need to have a startup that solves a solution and a reasonable one at that, not trying to build the next Facebook either, have a startup that in the short or long run would be able to save your community from a particular issue(Maybe you could save the world later).
Technical co-founder Involved ?
You cannot drive your startup to its peak position alone, if you don’t have a co-founder or a technical-support co-founder who is superb and would assist you with ideas that you lack in running your startup, someone who is charismatic , have the same vision as you have or even worse, then you’re going nowhere to getting funds from investors, venture capitalists or angel investors would not want to risk the chance of sponsoring one who has a monopolistic vision of things.
If he or she cannot have a mind blowing partner, how could he or she partner with us in the long run, you need to have a technical co-founder at least who would assist in building that great startup.