Alex Friedman is an experienced businesswoman, who has brought a wealth of knowledge to make millions of lives easier. So far LOLA has raised millions of dollars to fund her mission, and the brand is only growing.
Having a few daughters myself, I was excited to have Alexandra appear on a new episode on the DealMakers Show. We talked about getting equipped to be an entrepreneur, what investors look for in funds and VCs to give their money to, the advantage of consumer products as a founder, and fundraising for your startup.
The Ultimate Guide To Pitch Decks
Alex Friedman was born and raised in New York. She originally planned on being a journalist. She was the editor of the school paper. She loved storytelling. A skill which has certainly come in handy as an entrepreneur.
However, halfway through college at Dartmouth, she took an interest in the business. She discovered a great overlap, where she could also apply her passion for stories.
She dove into a private equity consulting project to help firms decide whether to follow through on investments or not. It was market-focused due diligence that evaluated the market size, competition and ability to disrupt. There was a lot to learn from looking at the same factors for many different businesses.
Alexandra took a special interest in consumer products businesses and what made them successful. It’s the products you use that you are passionate about and have opinions on.
What Investors Are Looking For
Alex Friedman has the advantage of having seen the investment world from an angle that most investors don’t get to witness. Her next gig was working for an early fund of funds that raised money from high net worth individuals to put into VCs.
The template she found funds use for deciding whether to invest in a venture manager or not looks at these 13 factors.
- Length of experience
- The team, their expertise and ability to work together
- Types of deals
- How they find deals and deal flow
- How they evaluate their own investments
- Investment strategies
- Fund size
- Track record of performance
- Overall return
- Returns by sector
- Return by type of company
- Return by team member
- What terms are being provided to the investor
Even though Friedman now says her top piece of advice to other aspiring entrepreneurs is now to do it younger, I consider founders with Alexandra’s background ‘dangerous’ in a good way. Meaning great indicators of being prepared for success.
She recommends jumping in earlier. Once you just do it, it is far less scary. You’ll learn plenty over the next year. You probably won’t find anything as exciting.
There is never a right time. Alexandra says if you can figure out a way to do it financially, and set yourself up for the risk, to try it for a year.
Yet, she says this because she herself took the long route. A path that I’ve seen many others take. Of all the successful founders of the most funded, most highly valued and fast-growth startups I’ve interviewed on the DealMakers Show, most have in common a background in consulting, investing or investment banking. She has it all. Plus an MBA from a top business school.
See How I Can Help You With Your Fundraising Efforts
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- Investor Access : connect with the right investors for your business and close them