Key steps for successful startup funding
The most important part in building a startup, and infect, the first step is to garner enough funds to begin. Several startups receive this in the form of seed fund from mostly angel investors.
Pitch a good idea – This remains the sine qua non. Build a product people would like to buy and want to buy. Something that appeals to the customers worldwide, has a far reaching affect and changes lives, or affects them in its own miniscule manner. To prove this to your investors is the mammoth task, and only then does one receive monetary funding.
Mentor – Find a successful mentor, who is in the same field, has been through the process and can guide you with the same. This helps with adversities that every entrepreneur is bound to face in the beginning of his startup enterprise. Having someone to guide you makes the process easier and instills the hope that one can overcome hurdles.
Prepare to face the VCs – Let’s face it, you have the angel funding, now what you need to make the company bigger is the venture capital investment. This is a much later part of the process but most crucial to the development of the company.
Have a plan B – There are setbacks at the start of any company, to learn about potential problems , expound upon them and to stay prepared in times of adversity is what differentiates the startups that sink to the ones who manage to stay afloat and become behemoth companies.