Over 50 entrepreneurs attended CED’s Raising the Dough Tech Workshop in RTP on October 19, 2017. The attendees, who are raising capital or looking to fundraise in the near future, heard advice from investors, mentors, and other successful entrepreneurs then participated in roundtable discussions for personalized feedback and networking. Click here for the agenda.
Special thanks to our sponsor Hutchison PLLC for helping make the event possible. Check out these resources provided to attendees:
- “Fundraising: The Deal Lawyer’s Perspective” – Presented by Scott Bryant & Anna Tharrington, Hutchison PLLC
- Handouts from Hutchison PLLC: Definitions – Sample Term Sheet 1 – Sample Term Sheet 2
5 Tips from CED’s Raising the Dough
- Leverage your network to find investors. “Work the ecosystem.” Investors are more likely to follow up on companies that are personal referrals or “warm introductions”. Maximize your networking opportunities by joining CED to get access to services like Connections to Capital and events like Member Meet-Ups.
- Be energetic and passionate during your pitch. Investors are looking for crisp, clear delivery of your business model and target market, but they are also need to get to know you. Are you trustworthy? A critical thinker? Enthusiastic and positive? Make sure these qualities show through your presentation.
- Know your raise. You have an “innovative, defensible, and scalable solution serving a growing market” and now you’ve decided to raise capital. This may seem like a no-brainer but make sure you can answer questions on how much you are raising, what you are going to use it for, and approximately how long the investment is going to last.
- Execute quickly during due diligence. If an investor who is considering putting capital into your company gives you a list of deliverables, act on those tasks as soon and as accurately as possible. And remember that you may put your best effort into a due diligence process and it may not work out, but it will make your business stronger. And you will be able to more quickly answer questions that will come up again later with other potential investors.
- Be proactive with investor updates. Set up a data room/dropbox that can be easily shared with investors and updated with company news and metrics. For example, record customer calls and upload those recordings to your data room for investors to listen to.
Thanks again to our panelists and moderators who each contributed to advice and coaching for the entrepreneurs:
Scott Bryant, Hutchison PLLC
Stephen Clossick, Triangle Angel Partners (TAP)
Chad Eckhardt, GridBridge
Tim McLoughlin, Cofounders Capital
Tony Pease, GoodBookey
Ed Pettiss, RTP Capital
Joe Sinsheimer, Wolfpack Investor Network
Anna Tharrington, Hutchison PLLC
Monica Wood, Myxx, Inc.
Visit CED Events for the latest calendar of workshops, conferences, meet-ups, and more.