cloud network hunting note: no matter how good your business idea can only be an armchair strategist, is you need to put these ideas into reality, so the successful vc content is very important to the development of enterprises. So, what need to do to make my own business by vc firms selected? Here are consumer credit and financial service, Gredit Karma founder Kenneth Lin branch for you recruit, Gredit KarmaDlun currently valued at $3.5 billion, $175 million D wheel, raised $368.5 million.
eight years ago, I had started Gredit the idea of Karma, I want to make Credit Karma for the customer provide free Credit score; But I know it is not a let a person look good idea (estimated to let a person took out 50 dollars to support also impossible). I need a team together to help me put the dream into reality. In the beginning, our team is only three people, and we clearly know suddenly could not find any income channel to develop the company’s business. Therefore, we have to like other start-ups, continue to survive by vc.
financing can be very scary. People always focus on the development of early stage in the company to raise capital enterprises; In the eyes of peers, these companies can be said to be the “alternative”; They are easy to make others feel left behind from the start. For many company leaders, in order to get a vc firm’s favor is not simple, it needs the skill not everyone is born with. I still vividly remember the experience their first successful investment, the other is top-notch vc firms; The result is really surprised me.
over the years, I also learned more financing experience. Here’s what I want to talk to share the successful financing of the key five :
the first point: to meet your weaknesses will give you the real feedback
before all your ideas into practice, make sure you can get the most honest feedback from reliable person. Usually in this case, your best friend will play the role of “devil”, give you pertinent advice. Do you want to stay with those who are not afraid to offend you, so you can get the best advice. From the point of my own, I have a bunch of the most intimate friends and colleagues, they have any comment about my thoughts will be outspoken; When I founded the Credit Karma this idea to tell them, they were all very interested; Is their support, let me always believe establishing Credit Karma is a good idea, I should put into practice.
the second point: your social circle is the best secret weapon
no matter you are in a stage of initiation ideas just still in the phase of financing for the enterprise, you should constantly expand their social circle, make more people. Every time go out to play, to attend the meeting every time or every time after the meeting to eat snack, all offers you the opportunity to make new friends. Establish your own social circle, after your first investors will and your social circle slowly close distance, he can know more about your customers, partners, and other investors. Frankly, everywhere, all the money, you need to do is find someone to give you the investment, and through them to constantly expand your social circle, developing their own enterprises.
the third point: marketing ability is key
if you want to own enterprise will stand out in the first round of financing, you’ll have to (sell) has a strong marketing ability, and this kind of ability is not innate. You must be a good at expression, to describe the company’s vision, to give expression to your passion. Do you want to venture firms showed why they should choose your company, how is your company unique. I financing stage in the early years of the company made a mistake, I can’t let the exact understanding of vc company Credit Karma’s business scope. VCS can be said to be the high level of pattern matching program, they focus on the development trend of the industry, understand the company is expected to be successful in the market, but their understanding of your company is not so thoroughly as you. You take each speech as an opportunity to develop your ability to sell, you want to prove to others that your business idea is one of the most successful. The sales pitch seems to be very difficult, and who is likely to start; But remember: nothing in the world is difficult if you put your heart into it.
fourth: practice “iron wall”
when I first to Credit, financing a Karma I is sensitive to all aspects of things. I to the company or to others my every evaluation and criticism of the speech is quite seriously. Entrepreneurs never impulse. I put their every negative feedback on the heart, these are very education significance for me, as soon as they let me learn to don’t hear criticism can not stand, points minutes felt like it was going to collapse. Do you want to have confidence in yourself and your own ideas, because not everyone like your idea, agree your point of view. When you’re in finance, you will hear a countless times the word “No”, you can’t let these negative word defeat you; Instead, you will fell more and more yong, turn grief into strength, take “No” as you move forward.
# 5: having good investors than the pursuit of the company’s high valuation
there is a say of good, the pursuit of the success of a business is like a marathon, not a sprint. In view of this, financing and valuations are like sign in each time. Fill up a lot of companies in the first place, runs at full speed; Hope that enterprises can in the shortest possible time to achieve a high valuation. However, they forgot their ultimate goal is to reach the end of the game. Do you want to find a can understand you company are faced with the problem of investor, he should have keen insight can help you find the next field to promote the development of the company. If you are in pursuit of the company’s high valuation, while ignoring the management, the implementation of the company you are driven to the brink of risk themselves. If you don’t seek company need support, will only make the company on a not mature development road, finally got nothing.
to learn more knowledge, entrepreneurial innovation quickly add hunting cloud network micro letter public account: