Is There Such a Thing as Raise Too Much Money? đźđž
Just because you can, doesnât mean you should.
I see this mistake happening all the time:
â Founders want to raise how much they think they can raise, rather than what they actually need.
See below the 4 factors you should keep in mind when deciding how much you need to raise.
The correct answer to the question âHow much money should I raiseâ is:
â Enough to hit the milestones to raise your next round of funding.
These milestones are what will prove to investors that you are moving in the right direction.
Examples of milestones:
> Managing your burn rate
> Hiring key staff members
> Solving a hard technical challenge
> Decreasing your sales cycle times
> Increasing spending from your existing customers
> Keeping customers happy by improving your net promoter score
⊠and many others
Once you choose the key milestones, you need to select the right metrics and goals to measure progress.
These should be SMAT goals (specific, measurable, achievable, relevant, and time-bound).
It is becoming harder to raise funds this year given the economic uncertainty.
Your pitch makes all the difference.
Thatâs why I am hosting a workshop on delivering the perfect pitch.
Find the link to sign up in the first comment below. đŹđ
Hundreds of founders have already signed up â hope to see you there too.
Source: Haje Jan Kamps
Commentaires