Galvenize Study Hall – Fundraising with Amos Schwartzfarb
I want to make the disclaimer, these are my personal notes and how I interpreted what was being discussed in the conversation between Amos Schwartzfarb, the Managing Director of Techstars in Austin, and 8 other entrepreneurs who were in the seed fundraising stage of their latest startup. Amos is also the founder of Joust and has more than 15 years of sales leadership and strategy experience in software, digital, advertising and entertainment.
BASICS OF FUNDRAISING
Anytime you ask someone for money you are fund raising, even if you asking your family for money.
Having a good story and building relationships is important because fundraising starts long before you ask for money.
Seed series will not know what their product market fit is yet, that doesn’t come A series.
Turn your business into a math equation. This is way better than a business plan.
Find out where your revenue comes from, how many businesses, your target, etc. Break these down so that you can adjust a section of the formula to scale, or cutback.