You’ve come up with a great idea for a business. It took some time to perfect your rough idea, design your product, sketch your business model, and create a plan. But now you wonder: where to find the funds to get the wheels turning?
Don’t panic, it’s common to wonder how to raise funds for startups. With no funds in place, even the savviest startup founders have difficulty developing their businesses. But the fundraising process takes careful research and planning.
So, if you’re struggling to unlock funds for your startup, follow these simple steps to kickstart your fundraising journey!
1. What do you want? Write out your funding goals
The first step in the startup funding process is to outline the funding objectives. These can be incorporated into a business plan and later in the investor pitch deck. They are the roadmap to quickly scale, stay on track, and show investors what you are going to do with the funds.
How to?
With transparent and remote teamwork – a great way to scale faster! Through HUI your whole team can work towards the same goal, but asynchronously and from anywhere in the world. Via the App “Data”, you will always have your documents, pitch deck, and business plans at your fingertips to keep track of everything.
2. How much money do you need? Create your budget
Creating an accurate budget is one of the hardest things to do. But with the right organization, nothing is impossible. Make a list of priorities: do you need equipment, even technological ones? Do you have high legal costs? Or a high budget for social media, website development, advertising, and more? Or maybe do you want to take your product to the next step? Choose your priorities, and create your budget!
How to?
Take it simple, with HUI you can decide your Financial Need (FN), the necessary amount, and get a complete view of all FNs opened by you and your team. Whenever you or your team have a conversation with an investor, this is a Fundraising Opportunity (FRO). In the dedicated App, just click on “Add FRO”, to notify the team and keep them updated on the process.
3. Who can I contact? Investors Research
To begin your search for an experienced startup investor, you can rely on online communities – check out some of these popular online research tools, like CrunchBase. Where you can search investors based on country, industry/vertical, deal size, etc. This way, you can make sure you profile investors in a very detailed way and maximize your chances of success. Pitchbook is another great tool you can use. Get your company registered on these two platforms to give visibility of your idea to the wider market and facilitate pull investment leads.
How to?
What you need is the HUI Fundraiser app to get a comprehensive view of all your contacts in the app. You can filter them based on their interests or country of origin and much more. You can also organize your work and that of your team by opening ToDo so that everyone knows who to contact and when to contact them. Act transparently and by dividing the responsibilities among the team members, it will be easy to monitor the funding progress!
Where I am? Keep track of your work
Monitor the trends of your funding process, the efforts of your team, and the investors’ feedback so you can make corrective strategies and reach your financial need.
How to?
HUI presents a quantitative view of all the activities that take place within the app. You will be able to consult graphs on the number of open FROs, graphs on the status of FROs (win, lost, pending), FN graphs opened by each of your collaborators. All with simple, intuitive, and always updated graphs!
