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by SemanticFog
5816 days ago
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You should seriously think about finding some advisors before you raise money. The time and expense is well worth the effort. Set up a board of advisors for your company, and try to get 1-3 successful entrepreneurs in your field (or related fields) to serve on it. Give them a bit of equity. Talk to them individually, but also try to get them all in one room at least once. You can reach potential advisors through networking events, through service providers like lawyers, and by just emailing them (repeatedly if necessary). You might want to start by hiring a lawyer or accountant who is connected in the community, and asking for help with intros. Among other things, your board of advisors will help you understand the type of investor that makes sense for you. If you're trying to raise $250K to ramp a business up to a few million/yr, then odds are no one on Sand Hill Rd will be interested. But that doesn't mean it's a bad business -- you just have to look elsewhere for investment. |
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