Raising Money 101
If you're smart, you'll keep these rules of the road in mind.
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When raising venture capital, make sure not to lose sight of the following basics:
- Know what you're looking for--lead investors are key.
- Keep the lines of communication open--form an advisory board.
- Obtain personal links early--secure a good attorney (a link to possible investors) from the start.
- Be prepared for any issues investors may raise--have a business plan and an executive summary at hand.
- Offer your investors instant results--line up your references.
- Build a solid relationship with your investors--get warm-body introductions.
Excerpted from Entrepreneur magazine, July 2001