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No One Can Raise Funding for Your Startup Except You

February 23, 2010 by Ben Yoskovitz

One of the big roadblocks that first-time entrepreneurs face is the issue of raising capital. There are no easy answers. But one thing is certain, the only person that can raise financing for your startup is you.

There are enough high quality resources out there on raising venture capital and angel investment. And there are some fairly well-accepted best practices on how to raise capital as well. You’ll have to do your research.

There are plenty of fairly easy ways to get connected to venture and angel investors too. That means more research and legwork.

There are probably people in your network that have done it before and can provide advice. If you need help, you have to ask for it.

If you’re waiting for an existing investor or partner of some kind to do the work for you, you’ll be waiting a long time. It’s most likely not going to happen. And unless you’re prepared and reasonably well-organized, your friends, colleagues, existing investors, partners, etc. will be hesitant to open up their rolodexes for you, because they’re putting their reputations on the line.

Note: Please be wary of consultants that are going to help you raise money for a fee (upfront or for success). This is a scary, seedy, dangerous arena. You can learn more at Jason Calacanis’ Open Angel Forum.

Raising venture capital is not something that most of us have experience in when we first become entrepreneurs. And when you first start a company the only way to get experience is do your research, learn as much as you can, prepare the documentation & pitch, and get to it. There’s no excuse for not jumping in and figuring it out.

Filed Under: Startup Fundraising

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Ben Yoskovitz

Founding Partner at Highline Beta, a hybrid venture studio and VC firm that works with large, ambitious companies to identify new areas of opportunity through internal and external innovation.

Previously I was VP Product at VarageSale and GoInstant (acq. $CRM), and Founding Partner at Year One Labs.

Angel investments include: Breather, Spoiler Alert, SendWithUs and others.

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