Mastering Fundraising as a System, Mistakes vs. Wins, Philosophy vs. Tactics vs. Trust-Building

BRAVE Southeast Asia Tech: Singapore, Indonesia, Vietnam, Philippines, Thailand & Malaysia Startups, Founders and Venture Capital VC

"In the teaser deck, there should be a money slide. When you hit that slide, you should immediately feel compelled to take this meeting. Many people overlook this aspect and end up with lengthy blurbs that leave investors questioning why they should meet. Spend time crafting a concise and captivating blurb and teaser deck that aims to grab someone's attention and secure the meeting. Save the detailed explanations for the actual meeting itself. Remember, to get the meeting, you need a strong hook from the start." - Shiyan Koh

"Chemistry matters in fundraising. While it's important to focus on raising money for your business, it's equally crucial to understand the person you're partnering with on this journey. Take the time to assess their compatibility by reaching out to other founders they've backed, both successful and unsuccessful ones. Gain insights into what it's like to work with that person. Ultimately, you don't want to find yourself three years into the journey, despising the investor on your board. Building a positive and productive relationship is beneficial for everyone involved." - Shiyan Koh

"Don't be overly sales-oriented, especially if you come from a professional services background like consulting. I've personally experienced this transition from being a consultant to a founder, and I was too quick to provide easy answers. It's important to acknowledge the reality of what's truly challenging in the startup journey. Not everything can be easy; otherwise, it wouldn't be a startup. Be candid and sincere about the genuine difficulties and don't hesitate to admit that you haven't solved them yet." - Jeremy Au

Jeremy Au and Shiyan Koh engage in a valuable discussion on the fundraising process for startups, offering key insights to navigate this crucial aspect of the business. They stress the significance of creating an attention-grabbing blurb and teaser deck that entice potential investors, advising founders to invest time in drafting these materials to secure meetings. The duo suggests focusing on a concise set of 10 slides that cover essential elements such as revenue, traction, team, market problem, solution, and fundraising goals. They caution against going overboard with slide numbers and instead encourage founders to make these slides clear and crisp, rather than perfecting design aesthetics.

The importance of honesty and transparency in fundraising emerges as a recurring theme. Jeremy and Shiyan emphasize the need for founders to refrain from lying or exaggerating, as trust is crucial in building investor relationships. They suggest that founders should be prepared to say "I don't know" when faced with questions, but should also articulate their plan to find answers. Setting milestones is deemed crucial, allowing investors to gauge progress and the startup's ability to deliver on promises. The chemistry between founders and investors is highlighted as a key consideration, prompting founders to investigate potential investors' track records and seek input from other founders they have supported. By internalizing these insights, startups can navigate the fundraising landscape more effectively, fostering trust and increasing their chances of securing funding.

Read the transcript at https://www.bravesea.com/blog/mastering-fundraising

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