Name: Tips & Surprises - From Founders Experiences
Uploaded: 2023-10-04T13:17:42.420Z
Duration: 131.88

FF4 TIPS & SURPRISES.mp4

FF4 TIPS & SURPRISES.vtt

ENGLISH

{{00:00:09}}
So what aspects of the funding process
have taken me most by surprise?

{{00:00:13}}
I would say, honestly, it's the
ability with which VCs and the

{{00:00:18}}
trajectory the velocity with which
they meet with other startups.

{{00:00:24}}
At first, when I got into the
process years ago, I thought that

{{00:00:29}}
VCs would invest left and center
in all different businesses.

{{00:00:32}}
That's not the case.

{{00:00:33}}
Now, they meet left and center with all
types of companies, so they understand

{{00:00:36}}
what's going on in the market.

{{00:00:38}}
But really, a lot of VCs are making
one, maybe two bets in a year.

{{00:00:41}}
So you think about that
opportunity of how many...

{{00:00:44}}
Meetings in a week, in a month, in a
quarter they need to have to come out

{{00:00:47}}
with those one or two investments.

{{00:00:48}}
It's a high velocity for a low payoff,
but a lot of times those are the companies

{{00:00:51}}
that need to hit for their portfolio.

{{00:00:53}}
Yeah, my biggest tip is before you go
out and raise capital go out and test

{{00:00:58}}
the market with your product ideas.

{{00:01:00}}
There's a lot of, lot you can achieve
and accomplish and understand before you

{{00:01:05}}
actually even raise a, single penny you
can take a prototype to the market and

{{00:01:11}}
demo it to potential prospects in in, in,
your target market and discover whether

{{00:01:18}}
or not that resonates with them at all.

{{00:01:20}}
And there's a lot you can do before
you actually grow and raise capital.

{{00:01:24}}
A biggest tip just, hustling
is really important.

{{00:01:28}}
Some of the most surprising aspects of.

{{00:01:30}}
Raising funding have been the number of
inquiries required to get a successful

{{00:01:37}}
relationship over the finish line.

{{00:01:40}}
In retrospect, it makes total sense
given the depth and the complexity of

{{00:01:44}}
the relationship that you're building.

{{00:01:46}}
But I don't think before we started
this most recent round that I really

{{00:01:49}}
appreciated how many different
groups, different meetings, different

{{00:01:54}}
investors you need to look at, try out.

{{00:01:56}}
Explore and do your due diligence on
before really, finding the right partner.

{{00:02:01}}
I get it now.

{{00:02:02}}
It's complicated.

So what aspects of the funding process
have taken me most by surprise?

I would say, honestly, it's the
ability with which VCs and the

trajectory the velocity with which
they meet with other startups.

At first, when I got into the
process years ago, I thought that

VCs would invest left and center
in all different businesses.

Now, they meet left and center with all
types of companies, so they understand

But really, a lot of VCs are making
one, maybe two bets in a year.

So you think about that
opportunity of how many...

Meetings in a week, in a month, in a
quarter they need to have to come out

It's a high velocity for a low payoff,
but a lot of times those are the companies

Yeah, my biggest tip is before you go
out and raise capital go out and test

There's a lot of, lot you can achieve
and accomplish and understand before you

actually even raise a, single penny you
can take a prototype to the market and

demo it to potential prospects in in, in,
your target market and discover whether

And there's a lot you can do before
you actually grow and raise capital.

A biggest tip just, hustling
is really important.

Raising funding have been the number of
inquiries required to get a successful

In retrospect, it makes total sense
given the depth and the complexity of

But I don't think before we started
this most recent round that I really

appreciated how many different
groups, different meetings, different

Explore and do your due diligence on
before really, finding the right partner.

Fintech Founders

Expert Insight

Fintech founders provide useful tips on funding and share the surprises they encountered.

Our latest FinTech Founders mini series explores various aspects of funding and investment.

This brief video features useful tips from fintech entrepreneurs and founders including Chase Neinken, Chimney; Michael Duncan, Bankjoy; and Ned Palmer, Panacea Financial. They also share the surprises they encountered along the way!