10 Common Startup Fundraising

Mistakes
and how to avoid them

Lance Cottrell - May 2021

Reality Check
Most companies are not a good fit for VC or angels
2. Going in Cold
Network before you fundraise

• Some kind of image showing being introduced

3. Fundraising Too Early

• Image?
4. Missing the What and Why
Show the big picture

• Confused person image

 We enable consumer wheat
processing businesses to maximize
revenue streams by reprocessing
their deliverables with new logistical
processes
We are the Salesforce™
of carbohydrate reconfiguration
• People love sliced bread but
hate slicing it
• Our machine automatically
slices whole loaves in seconds
• We sell those to bakeries
• They then get more business
from happy consumers
5. Failing to Understand Your Audience
Imagine we are stupid

• Simple not Jargon

• Business not Tech
• Benefits not Features
• Skim don’t Dive
6. Weak Communications
It matters how you say what you say

• Energy & Passion

• Narrative over Facts
• Aesthetics
• Practice
Energy
&
Passion
Stories not
Facts
Aesthetics
7. Hiding Weaknesses

• Sweep under the rug image

8. Failing to Make Commitments

With this $$$

We will do XXX
By YYY date
9. Raising Too Much (or Too Little)

• Something funny
• Maybe a huge pile of cash?
 10. Failing to Follow-up

• Crickets?
• Anyone there?
• Someone left waiting?
Thanks!
LanceCottrell
@FeelTheBoot
FeelTheBoot.com