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FundingPost - All You Ever Need to Know to Get Funded
VC magnate Joe Rubin of FundingPost has made a career of connecting entrepreneurs and the VC’s and Angels that invest in them.
VC magnate Joe Rubin of FundingPost has made a career of connecting entrepreneurs and the VC’s and Angels that invest in them. With over 200 events under his belt in 20 major metropolitan cities around the country, Joe is the guy in the know. Whether you need an introduction to an investor, or just some advice on how best to approach the fundraising process, Joe Rubin is definitely someone to have in your corner.
I recently had the pleasure of meeting Joe at one of his sold out events in LA. Here’s what he had to say about the current state of VC/Angel Investing.
L: What kind of companies are getting funding these days?
J: Well, obviously tech is still in high demand, but I’d say ideas that are simple and that can be explained in one sentence. If we can’t understand it, we won’t invest in it.
L: How do most companies looking for funding fail?
J: I think it starts with not explaining your company well. That’s an automatic fail. After that the failure we have seen is really in the follow up. It’s amazing how many people get connected with VCs or Angels who can and would invest in their company, but because of their lack of diligence in the follow up, they don’t get funded.
L: What would you say the best resource is for companies out there looking to get connected with investors?
J: I think referrals are absolutely key. Being introduced to an investor by a credible source will get you so much further than a cold call which will usually get you nowhere. And even if you don’t know someone directly, there are so many tools out there like LinkedIn where it’s almost impossible not to find a connection to the person you need to talk to, so use the internet!
L: Is there a trend you’re seeing in the business world that companies need to take into consideration when pitching or building their brand?
J: Well, we all know mobile is the future, so any company that has a mobile component, an app or at the very least a mobile friendly site will take you a lot further than those that don’t.
L: Last but not least, what is the number one tip you would give to companies out there seeking funding?
J: Wow, there are so many tips I can give. Here are a few. If you are looking for funding, one of the most important things is to be the best at what you do, not just an expert in your field. No one is going to invest in someone if they don’t feel they have expertise in their industry. I’d also tell companies out there not to be afraid of hearing no’s. A no is a great way to hone your pitch, and hopefully the next answer will be a yes. Sometimes it takes a lot of no’s to get to the one yes you need. I also can’t stress enough how important it is to keep a pitch short and sweet, most investors hear dozens of pitches in a week so respect their time and be clear and concise.
Learn more about the author, Laurel Kaufman.
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