06 May 3 tips for raising funds for your tech startup
If you are a fan of HBO's hit comedy "Silicon Valley," you are well aware of the troubles the central characters are going through to see their tech startup grow and become a major market force. What you might not know is how true to life the show's satirical points are, especially when it comes to finding the right funding for their company.
For those looking to get their tech startup off the ground, getting investors is one of the first things you will need to do. Having the seed money to really develop your product or service is essential, or else your vision will not become reality.
Here are a few tips for raising the funds:
- Don't wait around: You need to start raising the money for your company right away. Things work fast in the tech world and, if you wait too long, you might find your company obsolete before you even get things going.
- Find a lead investor: Having a lead investor will allow the terms to be set for the rest of those who want to buy into your company. By closing the deal as quickly as possible, you will gain momentum to find others to fund you.
- Prepare the important documents: Investors are all about the bottom line, which you should be able to show them during your pitch. Having employment agreements, contracts, capitalization tables and board minutes available will show a degree of seriousness and organization.
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