More founders lose out on startup investment because they handled their Q & A badly than at any other point in the pitching process. Evelyn McDonald, is CEO of the Scottish Edge fund, an investment competition that awards roughly £1million per round, with maximum investments of £150k per young business. Our discussion covers what question you can expect to be asked by investors, how to prepare, why the Q and A is so important and what founders need to do and say ensure to have the best chance of getting funded.
I thought the episode so useful for entrepreneurs who're pitching for money that I've had it transcribed here: https://goo.gl/WLjtUA
Small Business Entrepreneur of the Year 2017, Leah Hutcheon of Appointedd, joins Vicky Brock to help an entrepreneur who is sick of bad advice. We discuss when to trust advisors, when to trust your gut, where to find good advice, how to grow your team and how to manage input from investors and board directors that you disagree with. As Leah says, you need to build and use your network and trust yourself to know that with any people decision - if it is a maybe, then it's a no.
Sales expert, author and entrepreneur Jim Sterne talks about how to land your first four sales, pricing those early sales, and how to hire and compensate sales professionals. He also advises founders on how to avoid the pressure to give away your time and expertise for free. He urges: "if someone ever tells you as a founder to hire a sales-person, listen to them - sales comes first. Sales is a skill that can be mastered over time, but that takes talent and experience - and of course - experience costs money!"
Equity investment, knowing your value and the importance of raising enough money to fuel your startup for 18 - 24 months of growth. Global Invest Her founder Anne Ravanona and Vicky Brock urge a high potential female founder to think big and ask for more money.