What are the biggest differences between the experience of a founder and an investor?
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Miczaika described an investors experience as being one step removed.
Van Mil described the experience of a founder and investor as having fundamentally different energy and work prioritization.
They shared some of the most common things that startups get wrong:
1.
Not doing homework
Your pitch deck is a vital tool for promoting your startup and the investment opportunity.
Miczaika gets at least four-pitch decks daily by email.
So it’s crucial that you compete for his attention.
Details matter, according to Van Mil and Cooper.
Cooper advises companies seeking funding to be well-prepared with up to date documentation.
Your financials and desired milestones should be documented and organized.
Otherwise, as you grow, things get really messy really fast.
In most VC companies, different team members focus on specific verticals.
So, reaching out to the investor whose interests represent your company is important.
Otherwise, as van Mil notes, its a wasted step in the journey that could have been faster.
Think about where the VC stands in your timeline: Ask them what their successes are.
For example, is their focus early-stage or more established companies?
Miczaika asserted, We want to invest in groundbreaking ideas.
Is there someone willing to pay?
Building community is also vital.
For example, in the case of software, getting developers already using your software and providing feedback.
The more evidence you have that there is a market for your product, the better.
Lacking people skills
One of the most important attributes a founder can have is people skills.
A strong sense of entitlement or ego wont endear you to anyone.
What about the impact economic downturn on investing?
After a bull market, its a difficult time for manystartups.
However, Cooper stressed: The downturn is not in all sectors.
What are the needs of my company in this market?
Seeking investment means going all in
Sourcing money is time-consuming, and challenging.
It can be a tricky balance between being charismatic and being your authentic self.
Many industries are in a state of flux right now or even downsizing.
It should be a top priority in taking your company to the next step.
Story byCate Lawrence
Cate Lawrence is an Australian tech journo living in Berlin.
