17 Apr The 10 Commandments For Startups Seeking Funding
Warm days, cold days, high winds, dust, rain, snow, the weather is crazy here this time of year. With the mountain closed, people have set upon their journeys to warmer beach climates and the town has turned into a virtual ghost town; but one where you pretty much know every living soul you run into. It’s off-season here in Telluride Colorado but the startups in this year’s Accelerator (TVA) program are gearing up to return next week when their focus will shift to financial projections and pitch decks; preparing for the big Pitch Day on July 1st.
TVA’s Director, Thea Chase, may not have spent her off-season time at Mount Sinai, but when she returns I’m sure she’ll be preaching The 10 Commandments For Startups Seeking Angel Funding to this year’s cohorts. This Forbes article by Richard Harroch, does a nice job of laying them out and discussing each.
“To get angel investors to invest in your startup, you have to make sure you understand their motivation. You also have to make yourself stand out somehow, and ensure you can succinctly articulate your vision for the business and why it has the potential to grow into a significant company. Here are 10 commandments to follow in order to make your pitch successful.
1. Articulate the Big Problem You Are Solving
2. Show Why the Market Opportunity Is Large
3. Show Why the Founders Are Uniquely Suited for Success in This Venture
4. Give a Demonstration or Show a Prototype
5. Get Quality Introductions to the Angel Investors
6. Prepare a Great Pitch Deck
7. Don’t Make These Mistakes When Pitching to Angel Investors
8. Prepare, Prepare, and Prepare Some More for the Pitch Meeting
9. Show Any Early Traction or Adoption
10. Show That You Have Thought Through Financials and Projections”
To read more about how to obey each commandment, check out the full article.