At one of our recent events in King's Entrepreneurs in London - we had a few startups approach members of Startup Networks for advice and recommendations.

One of the questions we had was What isthe best thing you'd recommend to a startup raising capital?

We'd love to get your advice and help this anonymous member with this question!

Understanding your ideal customer profile is essential, as is positioning your business. Be clear on the problem you solve, who benefits, and the return on investment they can expect.

Your financials and forecasts must be grounded in solid numbers, not guesswork.

Know your competition, why you stand out, and be ready to explain it quickly and in a way an investor will grasp immediately.

22 hours ago, Tim Rentowl said:

Understanding your ideal customer profile is essential, as is positioning your business. Be clear on the problem you solve, who benefits, and the return on investment they can expect.

Your financials and forecasts must be grounded in solid numbers, not guesswork.

Know your competition, why you stand out, and be ready to explain it quickly and in a way an investor will grasp immediately.

Spot on Tim – I think a lot of founders underestimate how quickly they need to get that across. You’ve probably got about 30 seconds to convince an investor you’re worth listening to, so clarity on your customer, problem, and edge is everything.

And yes on the numbers – “educated guess” won’t cut it when someone’s about to wire you money. Investors can smell fluff a mile away.

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