Want to know the skills top founders master when fundraising? These are the skills you’ll need in order to land that funding.
The media can often make it sound incredibly easy and simple to land hundreds of millions of dollars in funds for just about any startup idea.
In reality, many stumble around for years and even have to face hundreds of investor rejections before getting a single check.
It doesn’t have to be that way. With the right idea, team and timing and the right skills, you can be far more confident and successful in startup fundraising, and raise far faster and more efficiently, from the right investors.
Fair or not, getting access to funds for your startup business is far more about your network and who you know, than what you know and your technical prowess.
Just like being an entrepreneur, some may appear to be naturally gifted at networking, though it is a learned and developed skill.
When thinking about the skills top founders master when fundraising there are things you can learn to help you get better at it, even if you are extremely introverted. Then it is about practice. Get out there and keep practicing.
As I mention in my book, The Art of Startup Fundraising, you want to start with those closest to you and friends of friends. Make professional networking a part of your weekly to-do list.
2. Relationship Building
Networking isn’t just about meeting new people and trading contact information. The most influential part is maintaining that connection and building the relationship. That can take effort and investment, but it can pay huge dividends.
There are many ways to do this. It can be regular phone calls and emails. It can be via social media. It can be getting together for coffee, going to sporting events together, having dinner, or sending cards and gifts.
3. Public Speaking
Public speaking is a highly valuable asset when it comes to fundraising. Those with good public speaking skills can come across as confident and passionate and capable. All top qualities that investors are looking for in founders and startups.
Public speaking can enable you to present too much bigger crowds and reach more people in the same amount of time. It is a skill that can be used in online webinars, live industry events, and Ted talks.
Public speaking is one of the biggest skills top founders master when fundraising. Today’s most notable public speakers who draw the biggest crowds admit they were terrified and stumbled at the beginning. Mastering it is a mix of specific techniques and practice.
Pitching may seem similar to public speaking but is a unique skill in itself. You can pitch to big crowds from a stage or on TV.
Or you can be pitching one on one in a conference room, or on the phone. In fact, you are always pitching. Everyone you meet should be receiving your elevator pitch.
It is really a sales skills. Great salespeople are made, not born. Knowing when to defer some of your pitchings to a team member who may already be stronger in this skill set may be a skill of its own. Don’t get hung up on your ego.
See How I Can Help You With Your Fundraising Efforts
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- Materials : our team creates epic pitch decks and financial models
- Investor Access : connect with the right investors for your business and close them