Fundraising for a team is about hustling and working all the options out there to:
- Get your concept in front of the right eyes. This implies that you should not just shop your concept out for funding everywhere unless your IP protections are in place. Otherwise in the quest for funding you may have just sewn the seeds for competitors to knock off your concept.
- Hustle the networks Alexandra rightly points out above. In this sense one has to assume the role of social marketer when shopping for offers.
- Don’t discount personal networks such as friends or family for funding
- Make full advantage of incubators and accelerators who may have strong networks for funding.
Thankfully for startups there are a number of fundraising options available, however it is important to select a fundraising method that is able to balance your funding needs with your venture’s strategic goals, in that the goal should be to garner quality offers or position yourself to have a range of viable offers to choose from.
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