Sometimes a well-told expert advice is all you need! That's why our final investor readiness workshop couldn’t be more profound and varied. Last week, Patrick Polak, one of the best VCs in Benelux met entrepreneurs and startups in Brussels and talked about the art and craft of being a VC and fundraising.
He guided entrepreneurs through finding funding models, pitching to investors and shared key ‘practical’ aspects on how to become investor ready.
As always, after every workshop we bring you the greatest bits of advice. Here you go!
- If you dance with sharks, and that's who investors are, be fully equipped... And remember - get an expert lawyer!
- Don’t be impressed by the money VCs represent, be impressed by the ways they can realize your dream and bring your company forward.
- An investor is a business partner! Do your own research on him/her. Ask your peers, ask for references, screen a profile. ASK! Just Do it! Because, at the end, you can fire an employee but you can not fire an investor - it will kill your business.
- Partnership is key! Remember, if you decide to work together - you need to be aligned completely, you should trust each other and be transparent. For instance, if you don’t get some aspects in your term sheet, ask questions and discuss it together! It requires business courage.
- Investors give you confidence! If it does not feel right, it’s wrong!
Interested in fundraising? Check out Startups.be/fundraising for more insights and key guidelines!