Many founders are looking for the next funding round that could represent the critical growth or — in some cases — the basic survival of their startup. They know they need money and sometimes they know where they might get it, but the process of actually getting it is more detailed than many founders appreciate.
There is, naturally, a huge amount of competition for the available funds. Who gets it? The startup with the best product or the highest number of prospective customers? The startup with the best team and the most experience? In an ideal world, maybe . . .
The truth is that the people who get the funding are the ones who understand the correct process for identifying the kind of funding required, the correct sources, the best way to approach these sources and how to finalize the deal. Those are the founders who get the funding they need.
There’s an essential roadmap that founders have to follow if they want to get their hands on critical funding for their business. Understanding it — and following it — is not only the right way. It’s the only way.