How To Raise Money — And 3 Shifts You Can Make If You’re Early Stage, Late Stage, Or Ready To Exit
By Mike Novotny, Founder and CEO of Medrio
Fundraising is a job in itself.
From the outside, raising money for your startup seems like an easy process — the press certainly paints it that way. You tell a handful of investors your idea. They throw money at you. And then next thing you know, you’re looking for fancy office space and a high-end cappuccino maker.
But the truth is, fundraising isn’t easy.
In fact, it’s practically like working a second job (in addition to building and running the company you’re trying to raise money for). Rule of thumb: it will take six months of full-time work by two people. And depending on the stage of your company, you will approach the entire fundraising process differently to cater to the types of investors you’re looking to attract.
After talking to hundreds of investors over the course of my business career, I’ve learned how to raise money based on the current goals and needs of the company. Here are 3 things you should be aware of throughout your own fundraising process, and how your strategies should…
