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Salesforce VP of Investments Shares 6 Mistakes to Avoid When Fundraising

Fundraising is a crucial & often an essential step to collect the much-needed capital or funds for growing your business. These fundraising rounds are often the key steps towards converting your business idea or prototype to a tangible & fully functional business venture. This is the means by which you can take care of most of the business operations & scaling-up costs (costs for marketing, operations, salaries of employees & other running expenses) & often run into millions of dollars for high growth companies. Hence, it is not easy to convince the investors, be it the angels, venture capitalists, banks, government organisations or your own aunt to hand over the funds to you & empower you to run your own show on their funds. While the variety & intensity of challenges in fundraising can be different & that you may have to figure out on the way, here are a list of 6 mistakes to avoid on this journey of fundraising, inspired as shared Meredith Finn Vice President at Salesforce, who leads their investments into other companies. Failure to adequately touch upon 3 key items in your pitch: Team, Product and Market Investors generally evaluate these three things (Team, Product and Market) when they take a look into a business idea for investment: TEAM – Investors consider the Team to be of utmost importance when funding a business because they believe that the Right Team can champion a business to success whereas the Wrong Team can spell disaster! It is extremely important for them to have an idea about “Who is Who” on the team & where each of the team member has his/her expertise on. The team that runs the show is a very important asset for the investors to build trust and hand over their funds to you for running your business. For example, if the team members have awesome industry, technical or domain experience relevant to the business, its easier for the investor to trust that team. Also, whether the team members are collaborative enough and have spent considerable time with each other is an important consideration…

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