Raising money is essential for the success of your startup or small business. But many first-time entrepreneurs are not confident about finding investors in the early stages of their business development. A quick thought might be to approach friends and family for financial support. But combining your business life with your personal life can be tricky since you wouldn't want to hurt your relationship over money. So instead of asking your friends directly for cash, why not look at them as a resource for testing your business idea and finding investors. Ask them if they know of anyone who would like to invest in your business. If you have a solid proposition, they might consider writing you a check.
To give you a headstart, Sharran put together this quick 3-step guide to putting your pitch together and increase your chances of finding someone who will trust you with their money.
“Our job is to use our network for their network, not use our network for what they do.”
- Sharran Srivatsaa
00:00 How do you get your VC friends to take you seriously
01:20 Know the job of an investor
02:24 Two things you have to remember when approaching an investor
04:19 Money vs. advice -- which one do you need
04:40 The first thing you have to do is work on yourself
06:24 Polish your pitch with the advice you get
08:18 Ask for potential investors or advisors within the same industry