Part 4 of our Venture Finance Academy Case Study — How to Raise $1.35M for Your Tech Startup During a Pandemic
Raising money is a lot like having a baby. You can’t really speed up the process without messing it up.
In this part, you are going to learn:
- Why it usually takes at least 3–6 months, and sometimes up to 12 months or more to raise money.
- Why raising money is like climbing a mountain
- Why you should approach investors like a sport fisherman
- The importance of finding a good lead investor
- Smart vs. Dumb money (is this really a thing?)
- The two primary fears of investors (Losing money and FOMO)
In Lesson 4, co-founder and CEO Sam Cook and Brad Furber talk about how seeking your first round of outside funding is a lot like climbing a technically difficult mountain. Brad grew up in the Pacific Northwest (Washington State, USA) and made his first attempt to summit Mount Rainier when he was 13 years old.
Climbing to the top of a big mountain is one of the most challenging experiences you will ever have physically. If you encounter difficult terrain and weather on your way up or down, there is a good chance you will find yourself in trouble.
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