Module 4 - Getting investor ready

This programme has been funded with
support from the European Commission
START UP IN STEM
MODULE 4
GET INVESTOR READY

Building on your initial
business plan
Section 1
Choosing the right business structure for
you. Create a compelling and robust plan.
It is so important to be
strategic when sourcing your
business capital. Succeeding in
raising funding is one of the
most important junctions in your
company's future.
While getting funded may sound
intimidating, Module 4 Getting
Investor Ready will have you
well prepared and guiding you
every step of the way.
Section 2
Section 3
Funding Types and Sources
Deep dive into all sources of funding - Equity
Investment, Debt Investment, Seed Capital,
Venture Capital, Private Investment, Angel
Investors, Venture Capital Investment,
Y Combinator, Crowd Funding
Nail your Investor Pitch
And Finally
A few articles and top tips that founders have used to
work smarter in their business start up.

Women Entrepreneurs in STEM | www.stementrepreneurs.eu
1. Building on your Initial
Business Plan
In Module 3, you looked at Proof of
Concept, Name & Protecting your
Idea (trademarks, patents etc).
We now progress to
choosing the best Business
Structure for your STEM
start up

Choose your Business Structure
In Module 3, you looked at Proof of Concept
Name & Protecting your Idea (trademarks, patents
etc). It’s now time to get official by choosing your
business structure, ensuring your business is legally
registered and recognized by law.
The type of structure you choose depends on the
kind of business you are running, with whom you
will be doing business and your attitude to risk. The
most used structure formats to choose from are :
• Limited Liability Company (LLC)
• Sole Proprietor/Sole Trader
• Partnership

The advantages in summary
• A legal entity separate from its shareholders.
• Directors or shareholders personal assets are not at risk in the
event of a winding up or receivership.
• It is generally the most tax efficient business structure to use.
However, the disadvantages are
• increased administration required of directors
• the cost of preparing annual accounts
Limited Liability Company

It’s actually easy to set in business as a sole trader - you declare your
intent to the relevant tax authority in your country.
The simplest structure is the sole proprietorship, which usually
involves just one individual who owns and operates the enterprise. If
you intend to work alone, this may be the way to go.
Sole proprietors/traders still need to properly account for all sales,
expenses and profits for any income tax and liabilities on a yearly
basis. The VAT rules still apply if the turnover of the business
exceeds the limit set.
The biggest disadvantage can be limited access to capital. Think hard
about your growth ambitions in the medium term – will sole
proprietor/trader status allow you to achieve your ambitions?
Sole Proprietor/Sole Trader

Business partnerships can be structured in a number of different
ways however the theme that runs through all partnerships is that a
partnership is constructed with two or more individuals who own a
business.
The partners in the structure operate without the benefit of limited
liability thereby assuming full and total personal liability and
responsibility for outstanding debts.
Note Limited partnerships can be formed.
Read: 6 Steps to Creating a Partnership That Drives Strong Business
Growth
Partnership
Source:
Irish
Investment
Network

When two or more people start a business, the result can often be a
strong union that blends complementary skills, financial resources,
customers and connections to help the venture succeed. But,
sometimes, such relationships can sour and the business can fail. You
need to decide in advance who is doing what, who is responsible for
what, and how to resolve disagreements.
Before entering a partnership, think carefully.
• do you completely trust your partner(s)-to-be
• have all the partners sign an agreement setting out how the
business is to be financed, how profits and losses are to be shared,
and what will happen if one of the partners decides to leave.
Failure to agree on such issues at an early stage can lead to
difficulty later.
Partnership, a note of caution!

GENERAL PARTNERS - In general, all members of the business
partnership share an equal role in how the business is run. An investor
who is looking to become a general partner typically is a person who is
interested in the long term success of the business and wants to
provide support and input into the running of the company.
SLEEPING PARTNERS -Business partnerships that have a ‘sleeping’
partner are partnerships where the investor partner has invested
money into the company but offers no support or direction on how the
company is run. Sleeping partner’s main and only concern is making
money from the business investment. For entrepreneurs this form of
partnership obviously has many benefits as the way the company is run
remains in control of the entrepreneur, however the downside for the
investor at least is that they can still be liable for losses that the
company runs up.
Partnerships, sharing the company
Source: Irish
Investment
Network

INTERESTING READ – ENTREPRENEUR.COM
https://www.entrepreneur.com/article/38822
It is advisable to get the advice of a solicitor or
accountant when considering the structure for your
business.

2. Building on your Initial
Business Plan
The business plan document
The process of writing a business plan
actually helps develop an idea into an
opportunity. It forces you to ask and
answer hard questions and explore your
options. By completing Modules 1- 3 you
have a lot of business planning completed
– you now need to put it in writing

• You wouldn't build a house without creating a plan. Why would you
build a business without having a similar plan?
• To help you think through the whole process - the value of a
business plan is not only the plan itself, but the process of writing
it.
• To put down on paper how much money you need to get started
and how much you need to make to break even and grow
• To convince yourself that it is worth doing
• To show others that you have thought it through
• To use with a grant authority/banks to get support
• To give you targets to aim towards and measure yourself against
Reasons for a Business Plan

Why 99% of Business Plans will Never be
Funded by Investors?
What Not To Do What You Need to Do
× Incomplete Not answering the fundamental
questions that unveil the whole picture of
your STEM start up. Not enough information
leaves the investor with a multitude of
questions and a bad impression.
× No or not enough research Product and
market have not been researched or tested
thoroughly
× Unrealistic and exaggerated figures and
projections that don't take into account the
evolving world or market place
× May look the part but isn’t Just because you
have an PHD doesn’t mean you will succeed.
Or just because it looks the part doesn’t
mean it is. The devil is in the detail!
 Show you can run a business They want to know what you
have done, but more so how much you know the sector.
They want to know you can run a business- go back to our
entrepreneur personality tests in Module 2.
 Know your field inside out: from the supply chain and
licensing laws, to the health and safety procedures
entailed. Do your research thoroughly. It helps if you have
worked and experienced the subject field of your stat up
 Adaptable & Anticipate Very few businesses stick to the
original plan as they grow after funding. Show you are
adaptable and can anticipate what the market will do and
why.
 Must have tested the product and the market properly
 As we said, don't buy an off the shelf business plan and try
to make it work. It never does.

• Keep it Simple. Simple does not mean short but rather that the
plan should be easy to understand. This is particularly the case if
your idea or business is complicated.
• Ensure your Business Plan is organised, with a logical flow that
keeps your reader engaged. Make sure it is perfectly presented.
• Use headings, subheadings and a table of contents so that a reader
can easily jump to a section that interests them. Do not make the
mistake of thinking that everyone is going to read every page of
your business plan.
TOP TIPS for a Business Plan…

You will not buy an off the shelf business plan and try to make it
work. It never does. Our business plan template is a proven format
used by our course authors to raise significant funds for start ups. It
has been adapted to remain fresh and relevant. It takes you through
the following sections:-
We start with you – people buy people – Section 1 Your Background
and Experience, a biography
Section 2 should outline Your Business Structure in sufficient detail.
The Nots and Bolts come next - Section 3 Operating Plan
Section 4 Your Customer, Sales and Marketing
Section 5 The Team – your personnel plan
Section 6 Financial Plan - how you are going finance the business and
make a profit?
Please promise us …

Two other sections should also be added when you have finalised your
business plan content.
• A Strong Executive Summary should be inserted before Section 1
While some will read your plan quite closely, others will JUST focus on
the Executive Summary. This page should be the last thing you write
and you should spend almost as much time on this page as you do on
the rest of the business plan.
The Executive Summary should never be more than 2 pages and you
should strive for one page. Just remember it is a concise summary of
the whole plan.
• A comprehensive Appendix section at the end of the document –
more details later.
At the end of the Business Planning process..

SECTION ONE – Business Mission, Background
and Experience, your biography
Start with your Business Mission
Describing what your company will be to its customers or clients &
what you want to be remembered by. It needs to be action-
oriented and clarify the "what," the "who," and the "why" of your
business.
READ HUBSPOT’S 17 Truly Inspiring Company Vision and Mission
Statement Examples -
https://blog.hubspot.com/marketing/inspiring-company-mission-
statements

Business Mission, Background and Experience,
your biography
A professional biography is simply a story-based version of the
information you would typically include in a C.V.. The format is less
formal, and it gives you an opportunity to highlight some
interesting facts about yourself while injecting a sense your
personality. This will keep the reader of your business plan
engaged from the start.
PEOPLE BUY PEOPLE. The main goals of a bio are to give the reader
an accurate sense of who you are and what you do, to establish
expertise and credibility, and to qualify your experience and
background. All of these elements combine to develop trust in you
and your STEM business start up concept and business model.

Your Background and Experience, a biography
In addition to being a critical section
of your business plan, you can use
your bio in the following ways:-
• Post it on your website and blog
• Include in your marketing
materials
• Provide with proposals to clients
• Submit for speaking, presenting
or teaching applications
• Include in any professional
documents you develop
Create both written and video bios for
impact
- TOP TIPS
• Make your opening attention-grabbing
to draw the reader in and make them
want to learn more about you.
• Write it in the third person, using
“she” instead of “I
• Use a conversational voice – much
easier to read
• Include some personal or unique
quirks and the softer side of your
personality!

What to include in your biography…
• Current job, business or professional
experience
• Publications or presentations you have
completed
• Professional memberships you currently hold
• Awards, honours and certifications you have
received
• Your contact information
• A photo of yourself, your educational
background, what inspires you (your values –
see next slide), quotes or testimonials from
test users or clients.

What to include in your biography
WORD BANK TO INSPIRE YOUR BIOGRAPHY
• Achievement, Advancement, Analytical , Aesthetics, Awards, Ambition
• Community ,Creativity, Curiosity, Credibility
• Determination, Discipline, Data
• Effective, Exciting, Financial security
• Freedom, Fun, Growth, Helping others ,Honesty
• Independence, Influencer, Innovation, Problem solving
• Knowledge ,Leadership, Meaningful work, Originality
• Reputation, Respect
• Stability, Sustainability
• Teamwork ,Time freedom ,Trust, Vision

Example of a great biography
http://www.katebingamanburt.com/about
(love her use of great images and a gif)

EXERCISE
READ 9 important points to consider
when writing your entrepreneur bio
http://www.biotemplates.com/biograp
hy-examples/how-to-write-an-
entrepreneur-bio-with-sample-
wording/
EXERCISE
Create a new or rewrite an existing bio
profile

SECTION 2 BUSINESS STRUCTURE
This is where you share details of the business structure you have
chosen. It is also the section to highlight the skills base that is both
internal and external to your business.
Present your professional team – accountant, solicitor, intellectual
property advisors, specialist marketing expertise, partners, external
advisors, mentors – who are they, what role do they play? Why are
they suitable for this role ? This section is very important especially
if you start up as a small business and before staff members come on
board, it shows that you have the expertise needed for the early
stages of your STEM business start up. More on mentoring later in
this Module.

SECTION 3 OPERATING PLAN
When writing the business plan, the operating plan section describes
your product or service proposition, the physical necessities of your
business's operation, such as your physical location, facilities, and
equipment. It should also include information about materials and
stock requirements and suppliers, and a description of the
manufacturing or service process.
Two important factors
1. Show what you've done so far to get your business off the ground –
Proof of Concept and research (and that you know what else needs
to be done)
2. Demonstrate that you understand the manufacturing or creation
process of producing your product or service e.g. a step by step
example creating your product or service from start to finish

OPERATING PLAN – key sections
Your product or service : As has emerged from Module 3 when you
researched and validated your Proof of Concept Process and your
Business Model
Your base/location: What type of premises are you working from, its
size and location? If it's applicable, include drawings of the building,
copies of lease agreements
Equipment and Assets: Describe the equipment necessary its worth
and cost. How will this be financed? More later! Also make a list of
your assets, such as land, buildings, inventory, furniture, equipment
and vehicles. Include descriptions and the worth of each asset. How
will you use technology, processes, products and services to reach your
goals?

Production: Explain how long it takes to produce a unit and a
breakdown of costs . Be realistic about your time and value same in
your costings. Are there are ‘risks’ involved in any part of the creation
or production process ? This could be handling hazardous materials.
Describe how you are/ will be properly trained in dealing with safety
issues.
Feasibility: Describe your Proof of Concept testing, price testing,
or prototype testing that you've done on your product or service.
Supply Chains - an explanation who your suppliers are and their prices,
terms, and conditions.

How have you protected your intellectual property ?
Quality Control - an explanation of the quality control measures that
you've set up or are going to establish.
What level of service do you provide ? Don't be vague; define what
makes your service so extraordinary.
What roles do you and employees, collaborators or subcontractors (if
any) play?

Start-ups need to get their products to the market faster than ever
in an increasingly competitive world.
In Module 2, we went into considerable detail on customer profiling
as part of your Validating your Business Idea (Reference:- 5 steps
to identify your target market (slides 42 -47). Present your business
approach to these 5 steps by give a crystal clear overview of your
customer.
Also relevant is content covered in Module 3 (slides 32- 42), where
we introduced you to 9 business models. The one you chose will
determine how you approach you sales and marketing.
Ensure this section of your plan is visual and highly tailored and
very sharp marketing and sales approaches are articulated clearly
Section 4 Your Customer, Sales and Marketing

Revolve around your target customer
• Today’s consumer wants and needs more information than ever
before.
• They want to know what your product or service does.
• They want to know what’s in it for them – how they will benefit.
• They want reviews.
• They want to ask questions.
• They want testimonials.
• They want to be reassured.

The Relationship between Sales & Marketing
Many people wonder abut the difference between and sales and
marketing. Let’s be clear …while marketing and sales are related in
business, they are not the same thing:-
MARKETING
• Long term
• Aim is to build relationships
• While sales is really the 'push' to
buy the product once the
customer is there, marketing is the
'pull' that gets the customer to
you in the first place.
SALES
• Short term
• Aim is to close a sale (that is get
someone to buy your product)
• Sales strategy is based on the
individual buyer and what needs
to be done for them to part with
their cash or click on the buy
button

Marketing is ….
Marketing is everything you do to
place your product or service in the
hands of potential customers. It is a
process to create interest amongst
potential customers in your products
and/or services.
Good marketing makes it easier to
sell your product/service.
Your business plan needs to take this
on board.
Think of marketing as this
goldfish !
It helps you to stand out in a
crowded marketplace.

Advise from a marketing expert* of 20 years….
• Marketing is any contact between you and someone who may
buy from you. It is everything you do to place your product or
service in the hands of potential customers.
• It is important to view marketing as a process, not an event.
• It is not a function; it is a way of doing business. It is a
mindset.
• Marketing never stops. Like the laundry, it is never done!
• It is about standing out and trying harder, every day (not just
when you feel you should or you need to).
• Marketing is about relationships.
• You are your most important marketing tool.
*Orla Casey, Momentum, Ireland

Great marketing starts with your brand ….
• Your brand is more than your name and logo (although these
are very important).
• Your brand is your promise to your customers – a promise of
quality, of consistency, of usability, of durability – all the things
that help make your product or service special in the minds of
your customers.
• The key strength of branding is it should make an emotional
connection with the consumer and stay long in their memory.

What is a Brand Story & why you need one in
your Business Plan?
It is a blend of how your STEM business
start up came to be, what you’re
passionate about (e.g. solving problems
through STEM solutions), your business
culture (e.g. the ethics behind your
business – environmental etc), how your
product make people’s lives better and why
your product is worth noticing.
Good brands often have human traits that
your targets might identify with. They have
a strong emotional context. You want your
customer targets to think ‘he/she is like me’
or ‘that’s how I think’.

Brand Promise Example
“The LEGO brand is more than simply our familiar logo. It is the
expectations that people have of the company towards its products and
services, and the accountability that the LEGO Group feels towards the
world around it. The brand acts as a guarantee of quality and originality.”
Lego explain each of their values on their website and it makes for
interesting reading https://www.lego.com/en-us/aboutus/lego-
group/the_lego_brand

Getting started with Sales
A simple way to look at the customer buying cycle is to break into
three stages in even the most complex sales situation:
Awareness Consideration Purchase
Awareness – when a customer first becomes aware of your product or
service . Or where a customer first becomes aware of a need that they
want to fulfil
Consideration – when a customer starts evaluating solutions to their need
Purchase – when a customer makes the decision and completes the
purchase

Your Sales Plan
Your sales actions with the customer buying cycle
Awareness Consideration Purchase
Describe
what you see
the customer
problem to
be
Introduce
your solution
Provide
detailed
information
of your
solution
Provide back
up proof –
customer
testimonials,
reviews
PERHAPS
Offer an
incentive
Purchase

Upselling
Highly important ancillary sales – e.g. one year customer support
package
Upselling adds perceived value to a sale that the customer is already
willing to make, as well as offer upgrades to purchases.
Customers will value your opinion
Easier to sell up to a customer - they have already indicated a
willingness to purchase
READ MORE - www.wikihow.com/Upsell
EXERCISE – How can you add upselling opportunities to your
business ?

Upselling
The sales and marketing section of your business plan needs elaborate
further on who and where your customers are and how you will reach
them. While you may have developed a wonderful product or service,
it's all for nothing if you don't have customers and clients
Start with your brand and take the reader through all the learning you
covered in this course.

Section 5 The Team – your personnel plan
Employing staff will often represent the single largest ongoing expense
that a company will have. Get it wrong, and it can be very costly (up to 15
times their annual salary!).
Be very clear on the inhouse talent and resources you need and when
you need them. They will be central to achieving your business growth
goals and central to your competitive advantage.
The personnel section of a Business Plan should contain the following
components.
Get the Best Talent. The first step is to create a Job Description, detailing
the role in question, the desired outcomes of this individual’s work and
the competencies – technical and cultural – needed to execute it.

The Team – your personnel plan
Organisational Chart – An organisational chart to give an overview of
the overall management and staffing structure of the company.
Type of Hire – Staff can either be salaried employees or independent
contractors. It is important to distinguish between these two for tax and
employment law compliance issues.
Salary Amount – Details of yearly or hourly pay should be included.
Salary Assumptions – common assumptions include an estimate of
salary increases over time (e.g. 5%) and a burden rate assigned to cover
company benefits like health insurance (e.g. 20% of salary costs)
When Hires Will Take Place – Your team will be usually hired over a
period of time and staggered. Give the detail of when a particular role
will be filled. If you will have temporary staff of contractors, you should
also specify the time periods for same.

Section 6 Financial Plan
No business plan is complete without finances . If sales and
marketing are the engine of the business, then finances are it’s
lifeblood!
The financial section of your business plan is the basis of your
business budget and a useful tool for managing cash flow on a
monthly basis.
By completing this module, you will be confidently able to set out the
financial profile of your business, the investment needed and be
clear on routes to funding success.

Financial Plan
Tailor the financial data part of your plan to your needs but most plans
include the following information:-
• Start-up costs
• Revenue projections with comprehensive assumptions
• Expense projections with comprehensive assumptions
• Five-year cash-flow projections
• Five-year balance sheet projections
• Sources of Capital
The narrative should also demonstrate..
• Is your business viable ? Costing, pricing and breakeven
• What business structure have you chosen?
• What financial resources do you need to start up ?
• Where are you targeting for support?
• What is your cash flow profile ? Is there a burn rate period ?

SECTION 7 THE APPENDIX
While the business plan tells the story of your business start up, the
appendix is where you put the factual information that supports it.
The appendix contains all the relevant back up such as
• Photos of your products or their prototypes
• Samples of marketing materials
• Reference letters
• Details of your market research studies
• Information about your competitors
• Any relevant news articles on your product or industry
• Copies of your property and equipment leases or rental
agreements
• Evidence of contracts secured
• Financial projections completed

2. Deep dive into all
sources of funding -
Equity Investment, Debt Investment,
Seed Capital, Venture Capital, Private
Investment, Angel Investors, Venture
Capital Investment,
Y Combinator, Crowd Funding

Seeking the Right Funding for your STEM
Start-up
By creating a sound business plan, STEM entrepreneurs can assess
the amount of seed capital needed to start business, or how much
venture capital is needed to expand their start-up business. From
there, entrepreneurs are better able to find the right private investor
for their needs.
Funding is required at all stages of development for small business
entrepreneurs. For a new small business, obtaining initial funding, or
seed capital, through traditional investment sources can be incredibly
difficult, due to increasingly strict lending criteria.
As an alternative to borrowing money from banks and requesting
government funding, small business entrepreneurs are beginning to
take the initiative to find their own private investors through other
financing platforms.
Adapted
from
Source:
Irish
Investment
Network

Ways to Fund your Business
For any start up business, the challenge of putting together a
financial investment package can be daunting. It can be even more
daunting if this is your first time starting a business. There are many
public and private funding opportunities; however knowing where to
look is the key. Now we look at 8 different approaches.
1. Bank Loan
2. Private investment - Angel Investors
3. Venture Capital Investors
4. Y Combinator
5. Fund Yourself (Bootstrapping is Covered in Module 3)
6. Government supported Small Business Grants (Covered in
Module 3)
7. Incubator or Accelerator
8. Crowd Funding

1 Bank Loan
A business loan from a bank is another way of financing your
business. In most cases, having a robust Business Plan is essential to
convince the bank that you are worth backing. Often, a bank will ask
for personal guarantees or other forms of security. Never offer
security, especially if you are confident Business Plan stacks up.
Finally, remember to shop around, there are many banks that may
have different lending criteria for new businesses.
Dealing with Your Bank - Do's and Don'ts
Do:
Be prepared when meeting your bank
Keep your bank informed in good times and bad times
Choose a bank close to you
Shop around before choosing a bank
Adapted from
Local
Enterprise
Office
www.localent
erprise.ie

Do:
• Compare loan packages -Lenders describe the cost of a loan in
different ways. Some will tell you the interest rate on the loan, and
others may tell you the total amount of money you have to pay
back. When lenders describe loan cost in different ways, it makes it
difficult to compare your loan options.
• Be prepared when meeting your bank
• Keep your bank informed in good times and bad times
• To make comparison easier, ask the lender to tell you the Annual
Percentage Rate (APR) of the loan. APR is the total cost of a loan
over one year, including fees. APR can be much higher for
alternative lenders that provide fast funding and work with lower
credit borrowers.

Do:
• Choose between a line of credit and a traditional loan. Depending
on your business needs, a business line of credit may be a better
option than a loan. A loan is a fixed amount of money that you pay
back with interest over a specific period of time; a line of credit is
like a credit card. You get approved for a maximum amount of
money that you can access as needed, and you repay it over a
period of time. The advantage of a line of credit is that you only
have to pay interest on the funds you use. A line of credit is better
than a loan in two main cases. If you occasionally need short-term
working capital to buy inventory or cover seasonal expenses.
Loans typically work better when you need to finance a long-term
investment, such as equipment or a premises.

Do:
• Borrow at the right time: When you are planning about your
business loan, make sure that you borrow at the right time. If you
take the loan too early, then there are chances that you end up
spending most of it for purposes other than what it was meant for.
If you borrow it too late then it could put a hold on your business
as you will also have to pay the interest at a time when your
business can grow exponentially.
• Borrow the right amount

Don’t:
• Mix your Business and Personal account. It's never a good idea
to mix your business money with your personal money. You can
bank with the same institution if you want, but make sure you
open a separate small business bank account. Don't transfer
money between the two unless you have an excellent reason and
you keep a paper trail.
• Make the mistake of applying to only a single type of lender.
Knowing all your options not only makes it easier to decide how to
choose an appropriate business loan, but it also increases the
chances of getting accepted for a loan.
• Make the mistake of falling for an unreliable lender.
READ - 10 questions you should ask before applying for a bank loan

2 Private investment - Angel Investors
Angel Investment across Europe has taken off over the last few years.
Angel investors invest in early stage or start-up companies in
exchange for an equity ownership interest. Angel investing in start-
ups has been accelerating. High-profile success stories like Uber,
WhatsApp, and Facebook have spurred angel investors to make
multiple bets with the hopes of getting outsized returns.
Business angels are private individuals or groups that invest their
capital into start-up companies and entrepreneurial ideas in return
for partial company management and/or a return on a set amount of
the company’s profit (known as an “equity stake”). They often have
other benefits for a company, such as experience in the particular
sector and often a wide range of industry contacts that can help get
your business in motion.

Private investment - Angel Investors
In addition to capital, Angel Investors also contribute their know-
how or experience in company management and can offer valuable
expertise and guidance. Angels usually seek active participation in
the company in which they invest. Angel Investors are primarily
motivated by return on investment and Angel Investor involvement
can often help secure access to venture capital or classical bank
loans.
Business Angels generally invest in the region where they live and
in areas in which they have greatest expertise or knowledge.
Some specialise in providing finance in new technologies.
Source:
Enterprise
Ireland

The Ideal Angel Investor will have
A strong commercial track record
Excellent business credentials
Capacity to invest
Ability to identify commercial opportunity
Time to invest in the creation of a new company
Vision to transform new technologies into solid businesses
Established links and relevant industry contacts
Source:
Enterprise
Ireland

6 Things Angel Investors care about the most
1. The quality, passion, commitment, and integrity of the
founders
2. The market opportunity being addressed and the potential for
the company to become very big
3. A clearly thought out business plan, and any early evidence of
obtaining traction toward the plan
4. Interesting technology or intellectual property
5. An appropriate valuation with reasonable terms
6. The viability of raising additional rounds of financing if progress
is made
Source: Forbes

Private investment - Angel Investors
Angel Investor Networks
Most new businesses will have trouble getting significant amounts of
capital, but business angel investment can help companies reach the
next level of financing and expansion. Across Europe, Angel Investment
Networks allows members to find and connect with other members
regarding business investments and funding. Thousands of business
angels use the network to search for ideas, and have entrepreneurs
signing up on a daily basis.
e.g. Irish Investment Network has over 179, 388 registered angel
investors. Their site is presented with
• Clear listings posted angel investors that entail the details of their specific sector(s)
• Potential investment amounts
• Desired location of the potential business venture

3 Venture Capital Investors
Seed and Venture Capital are becoming more frequent sources of
investment providing capital for new businesses and entrepreneurs
that would not be able to obtain loans. The global credit crunch has
increased the demand for angel investors.
Venture Capital is:
Capital provided by full-time, professional firms (venture
capitalists) who invest with management in ambitious, fast-growing
companies with the potential to develop into significant
businesses.
Is likely to add considerably to the credibility of the company and
to supply management expertise, support and access to their
contacts. As part of their mentoring and monitoring of their
investment, they are likely to seek board membership.

Venture Capital Investors
In contrast to bank finance, venture capitalists are not looking for
scheduled repayment, but for a minority of the share capital of
your company in return for cash.
The venture capitalists will typically look to realise their investment
in five years, either through floatation on a public market, a trade
sale or for their stake to be bought out by the company.
Venture Capital funds usually invest in companies that are raising
€500k+ in equity. The companies must be in a fast-growing,
attractive sector, with a strong management team and
demonstrable skills. The product/service must solve a clearly
identified problem.

The Difference Between a Venture Capital and an Angel Investor
Angel Investor Venture Capital
Private equity is simply shares (equity or securities) in a company that is not listed on the stock market
• An individual investor
• Investment amounts: €10k - €100k, sometimes a
bit more, groups could go up to €1m
• Hold private equity from having made
investments directly into private companies
• Individuals often successful business people, who
are investing their own personal funds into a
potentially rewarding opportunity
• May be willing to invest in early-stage or start-up,
as well as established companies
• Have experience and contacts to contribute
• May be willing to be "hands-off" or "hands-on"
adding important skills
• A company or business rather than an individual
• Investment amounts: €1M +
• Hold private equity from having made
investments directly into private companies
• Capital is invested by firms or companies that
use other people's money. They raise that
money by offering investors a chance to take
part in a fund that is then used to buy shares in a
private company
• Seldom interested in early-stage, unless
compelling reasons (e.g. high tech with already
successful founders)
• Have contacts
• Require seat on board

4. Y Combinator
Y Combinator provides seed funding for Start-ups. The goal is to get you
through the first phase and get you to the point where you’ve built
something impressive enough to raise money on a larger scale. Then they
introduce you to later stage investors—or occasionally even acquirers.
Make small investments in return for small stakes in the companies funde
Help founders deal with investors and acquirers from well-known
technology companies
Twice a year they invest a small amount of money in a large number of
Start-ups. Once in January-March and one June-August
During Demo Day Start-ups pitch to a specially selected audience of
investors and press
See a list of the benefits and resources available to YC founders here
Apply to Y Combinator, you just fill out an application form
Read More about Y Combinator

All Your Angel Investor Questions Answered
1. What are the six most important things for angel investors?
2. What do angel investors like to initially see from an entrepreneur?
3. How long will it take to raise angel financing?
4. What financial questions should the entrepreneur anticipate from
angel investors?
5. What questions should the entrepreneur anticipate about marketing
and customer acquisition?
6. What questions should the entrepreneur expect concerning the
management team and founders?

All Your Angel Investor Questions Answered
7. How risky is angel investing?
8. What questions should a CEO ask of potential angel investors?
9. What are the key factors in determining the appropriate
valuation in a seed round of financing?
10. What are typical reasons angel investors will reject an
investment?
11. What mistakes are made by entrepreneurs in a pitch meeting
with angel investors?
All 20 Sets of Questions & Answers Here: Forbes

Y Combinator comes to Europe
Two and a half minutes. That’s how much time the influential tech
incubator Y Combinator gives start-up founders to deliver a perfectly
crafted pitch to an auditorium packed with investors and journalists.
Founders work with different partners ‘to help hone their speeches
and custom tailor [the presentations] to every company. The key is
to figure out the most important points and articulate it well.’
Click to watch
interview with
Partner Kirsty
Nathoo

Ways to Fund Option 5
5. Fund Yourself (Bootstrapping is Covered in Module 3)

6 Government Supported Business Grants
Success in Writing a Grant Application - top tips
What are the real and positive differences the funding will make?
Remember – ‘People Give To People…’
Be creative, challenging and engaging about your idea, this is your
opportunity to distinguish yourself from others.
Build your credibility and be professional!
One of the primary reasons why applications get funded is that the
funders are convinced that the applicant organisation is well
organised, has a good track record and is a capable promoter to
carry out the proposed project. As we have outlined earlier in this
course, be honest about your past experience showing what you
have learnt from same.
Approach the application with a high degree of professionalism

Writing a Grant Application – before you start
Put your best foot forward remember it is competitive
Make it interesting write in an interesting way that captures the energy &
spirit of your project (journalist style)
Back it up with facts the power of evidence of need. It is not sufficient to
say: “we know ..we think.” back it up with your proof of concept research
Stand out and be unique show that your project is additional – not
competing with others
Seek assistance definitely talk to the funding agency before you apply
Describe your project truthfully and succinctly don’t assume that the
funder will have any knowledge of your business, background or new
project
Break down the requirements of the application into bite-sized pieces

Presentation think carefully about presentation; most funders will read
many applications and if an application is easy to read and well presented
it makes their lives easier.
It takes a lot of time, energy and effort it takes a lot longer to put an
application for funds together than you think !
Before you send your Application
Ask yourself, ‘Why wouldn’t they fund this?
Often a good way to strengthen your funding application is to try and
‘pick holes’ in it. Having identified the weaknesses you can then work on
putting them right.

Proofread, Proofread, Proofready
The most important part of any application is READING THE GUIDELINES,
following them to the letter, and ensuring that you do actually meet the
criteria for the grant – some grant makers receive up to 30% of
applications that do not meet the eligibility criteria

Are You Ready to Apply for a Grant
Exercise: Answer These Questions
Questions Questions
1. Who are you?
Yes – proceed to next question
No – do some more thinking
2. What do you want to do?
3. Why do you want to do it?
4. What do you expect to achieve?
5. How much will it cost?
6. How much do you want from whom?
7. How much (and what) will you contribute
yourself?
8. How long will it take and when will you
need to start?
Yes – APPLY

Overcoming a ‘No’ when Seeking Funding
If the recipe isn’t right, and you don’t get the Grant, Crowd Fund or
place on an Accelerator - be sure to use these rejections as a learning
experience! Encountering a no can be disheartening. But don’t let it
get the better of you. Consider these steps to increase your chances of
being reconsidered, improve your potential for obtaining financing in
the future and in general relieve the stress of securing funding
Reflect on your approach be honest with yourself. Did you rush the
application? Did you really think you met the priorities or did you not
do yourself justice in writing about your project?
Ask for feedback even if your rejection letter specifies a reason for
your rejection, asking for verbal feedback will sometimes bring you a
fuller and more open response.

Act professionally even though disheartened, keep your behaviour
and actions as professional as possible. If you thank the possible
supporter politely for his/her time, and follow up in a few weeks when
you’ve gathered more information or adjusted your business model,
you may have a much better chance of getting that funding.
Find out what did get funded funders often publish lists of what they
did fund
What do you notice about the projects that got funded?
Were the businesses at a different stage to you?
Were you asking for much more (or less) money than they received?
Were you applying for activities that this funder hasn’t supported?

Contemplate Your Options There’s no right or wrong way to pursue
funding. If one channel seems to be generating more obstacles than
opportunities for progress, it might be time to change up your strategy.
Increasing your chances of getting a yes could be a simple matter of
choosing the right channel (or group of channels) to use to cultivate
funding.
Look At Your Business Model Use the rejection as a learning
opportunity. Take a look at your business model for any major flaws or
weaknesses. Fixing these gaps will make your overall business idea
more attractive to other potential investors, and could be enough to
change your initial rejecters’ minds

Learn and Improve your Pitch . Your pitch needs to be strong in order
to capture the attention of your potential investors. Over the course of
a minute, or a couple of sentences, you should be able to explain your
business concept and exactly why it’s a valuable investment
opportunity for your intended prospect. If you can’t do that, your pitch
needs refinement.

7. Incubator or Accelerator
An Incubator typically offers shared office spaces, networking and
mentoring opportunities. Co-working is often a part of the incubator
experience, though some offer private office spaces. Incubators cater
to new companies specifically, nurturing the growth of a new business
as the name suggests
Meanwhile Accelerator Programmes are geared towards existing
businesses that have the potential to grow. Different from incubators,
accelerators offer mentorship and typically also provide seed capital in
exchange for a share of the business.
Let’s look at the advantages of a typical accelerator …..

Join an Accelerator to Advance & Innovate your Start-up
1. Comprehensive Support: Operating a start-up can be lonely
and challenging. That’s where an accelerator can help. You get
support from mentors and those sponsoring you. Besides
emotional support, they provide direction, experience and
knowledge. Plus, you have the support of other founders in the
accelerator program with you.
2. A Full Roster of Activities: The few months of an accelerator
program are jam-packed with activities that benefit your start-
up: meetings with mentors, feedback sessions, “demo day”
presentations, and networking. There is a lot of information
and even more to apply directly to your start-up.

3. Investor Access: Accelerators don’t tend to give much in
funding, what they do is connect you directly to interested
investors who are drawn to accelerators in the hopes of
discovering the next big thing. On “demo days,” many investors
are invited to watch the presentations, then you get to meet
and mingle with them. They can offer additional funding offers,
especially when they see that the accelerator program has
helped you further develop your start-up and shows the
potential for return.

4. Accelerated Knowledge: An accelerator program packs in so
much information from the years of experience and skills that
each mentor or accelerator manager has amassed. This
concentrated information allows you to speed up what you are
doing with your start-up. Instead of reinventing the wheel, you
are leveraging their years of accumulated wisdom to launch
your start-up in a more calculated, strategic way. Clearly, this
can improve your chances of success.

5. Gateway to Future Customers: Accelerators include target
audiences at demo days so they can hear what you are doing.
This can create an early buzz and provide advanced publicity
can also help you notify them of your launch. The prospects you
interact with can form the start of an important database of
leads, as well as give you a head start on brand development
and recognition.
6. Skills Development: Accelerators focus on teaching you the
skills that are essential for running a business, including sales
and marketing, communications, finance and even some
technical skills. You can work with other founders who are in
the same program cohort, providing a great testing ground for
disseminating your skills later on to your own team

7. Risk Management: The risk of failure is on the mind of every
start-up founder. It can feel as though the cards are stacked
against you. This includes the market you are entering, the
product you are offering and the concept that you are selling.
An accelerator can identify the risks within your concept and
help you work on minimizing them. It can provide you with
direction in proactively taking on risk and managing it
effectively.

8. A Bigger Picture, Long-term View: As a founder, especially a
first-timer, it can seem impossible to look beyond the first six
months to a year. It is vital to work toward a much longer view and
outcome. Mentors in accelerator programs can help you see the
complexity that will develop in time and steer you in the right
direction to deal with it. They can ask the questions that get you
thinking of the bigger picture and what it should look like, then can
suggest the tools and tactics to get you there.

9. Springboard: An accelerator can work for start-ups in all phases of
their growth. Even those that are much closer to becoming an
actual business should consider one. You may have encountered a
problem or reached a growth plateau. An accelerator can be that
propeller to the next level that you couldn’t figure out how to get to
on your own. This might include using the accelerator and the
expertise within it to launch a more diversified offering or expand
into a new market.
10. An Accelerator for Everyone: The growth in accelerator
programmes means that there is one that most likely addresses
your growth stage, location, industry or niche, desired level of
oversight and involvement, planned outcome or any other factors
that are critical to what you want to accomplish. The result is an
encouraging environment that will help you thrive.
Click
hyperlink for
source –
www.entrepr
eneur.com

11. Motivation and Morale: The collective and collaborative
environment found in accelerators is sure to keep you going and
moving forward. Interaction with other founders is a powerful
motivating force. When you hear about their own self-doubts and
challenges, it resonates with you. Plus, it reminds all of you that it is
possible to overcome those doubts and work together to clear your
respective hurdles.
12. Continued support long after the program ends: Just because the
accelerator program ends in a few months doesn’t mean the
support does. Long-time relationships develop at accelerators. Plus,
the alumni network is always there to tap into, inquire about talent,
seek investors, or get feedback as you continue with your start-up
or take on any other projects in the future.

Example Accelerator, Ireland
ArcLabs Accelerator
The NDRC’s first ArcLabs accelerator in Waterford supported nine tech
start-ups that each received up to €50,000 in supports.. The
investment in each company included €30,000 in direct investment
and a further €20,000 in business supports from backers
“World-leading companies are already emerging from the south-east
and, with industries such as retail, property and recruitment primed
for digital disruption, the potential for more growth is clear.”
“Mentorship is fundamental for these early-stage companies and a key
pillar of the support system that allows start-ups to become valuable
contributors to the regional and national economies,”
Enterprise Ireland CEO Julie Sinnamon.

Example Accelerator, Ireland
Example Start-ups through Arclabs Accelerator
1 Herdsy a disruptive agritech tracking company
2 Kraken Data with an ever-growing number of integrations and a
powerful brain, Kraken Data enables e-commerce digital agencies to be
effortlessly data-driven and keep clients happier for longer by
delivering maximum results.
3 BluCoup a marketing platform that enables retailers to engage with
consumers in real time as they shop. Its technology then tracks the
consumer’s behaviour from offer engagement through to redemption.
This allows the platform to deliver bespoke offers to the individual in
the future.
4 TurnedSee a log-in only platform that enables hotels and venues to
showcase their offering in a 360-degree format.

8 Crowd Funding
Crowdfunding is the financing of a new project by raising many small
amounts of money from a large number of people. Thousands of
businesses across Europe have raised funding through crowdfunding
platforms. It is used not only to raise money online for a business idea
or project but simultaneously build up a community and improve
visibility.
• It generates traction, social proof, and validation.
• It’s an opportunity for crowdsourced brainstorming to refine your
idea.
• It gains you early adopters and loyal advocates.
• It doubles as marketing and media exposure.

Crowd Funding – is it right for your business ?
Crowdfunding suits certain types of businesses – usually Start-ups
or early stage companies that are looking for relatively small
amounts of money. It has a higher success rate within certain
sectors like the digital media and certain types of consumer goods
businesses e.g. health.
Your first step is to research a good fit crowdfunding platform with
track record of success that has delivered for similar businesses to
yours.
Most popular crowdfunding websites

Crowd Funding – is it right for your business ?
Crowdfunding suits particular types of entrepreneurs, those with good
marketing skills and who are active on social media. If marketing isn’t
your skillset, or if you’re unfamiliar with social media, then
crowdfunding might be a challenge. A crowdfunding campaign is not for
a social media novice.
Excellent video pitches are essential to successful crowdfunding
campaigns. Pitching your product or service to a mobile camera (most
likely) requires preparation and perseverance. Do your research, by
viewing other video pitches. Write a compelling script that
communicates the selling points simply and clearly. Deliver it with
passion. Reshoot it until it’s right.
Source:
Think
Business -
Crowdfund
ing Ireland
Guide

Crowd Funding Models
Crowd funding models to consider are…
• Pre-selling - when people donate towards the creation of a specific
product,
• Peer-to-Peer lending - borrowing from a number of lenders via an
online platform, each lender lending a (small) amount in return for
financial compensation
• Equity lending - when people lend money to individuals or
organisations in exchange for company shares
Different platforms facilitate different fundraising models. Finding the
right funding model for your project is an important step for a
successful campaign.

Crowd Funding – Pros and Cons
Advantages: Access to capital without equity stakes or rigid
bureaucracy.
Disadvantages: A lot of projects never get off the ground which can be
frustrating given the amount of time you can spend setting up the
campaign. Back to the need for great marketing and social media
prowess.
Most crowdfunding platforms have an “All or nothing” model meaning
that if the funding goal of the campaign is not reached, all the
contributions are returned back to the backers.

Crowd Funding – Platform Costs
Different platforms apply different charges depending on the model you
chose – carefully check for …
• Platform Hosting fee: Some platforms, although not all, charge an
initial cost just for hosting your campaign. This cost varies from €0-300
and will be charged to all projects, be that successfully fundraised or
not. Ask platforms what fee applies to them before starting the
campaign.
• Success fee: The majority of crowdfunding platforms will take a
percentage of the total amount raised. The percentage varies from
platform to platform and ranges between 3% and 12% of total raised.
• Payment processing fees: Look out also for a service fee for every
transaction made. Usually this fee is on average 3%. For instance, for
every €100 donation/investment, only €97 reaches the campaign.

Crowd Funding – Exercise
Download and Review Crucial
Crowdfunding resources
CRUCIAL Crowdfunding is an
ERASMUS+ supported project,
designed to inform all the different
stakeholders who can potentially
benefit from this innovative means of
funding business ventures.
CRUCIAL Crowdfunding Project
Crucial Crowd Funding Resources

3. Nail your Investor Pitch

A pitch, or business pitch, is the short presentation start-up
founders make for investors, potential customers, competition
jury, business partners, and many more!
This section will help you understand the pitch is not just words
on a set of slides. You’ll understand the important ingredients
you pitch must encompass to eventually create fantastic perfect
pitch. Ingredients not limited to include;
• relevant and realistic information,
• visuals,
• and an overall passionate energy to woo your audience!
It is very important you are able to explain what your start-up
does in a clear and efficient way, so that the people you are
talking will be interested in your idea and motivated to take
action.
Become Pitch Perfect !

We introduce you to tools that will help you prepare your exciting 3-
minute max pitch! Get ready to tell your compelling story about the
need you have identified, how your product is that solution, and why
your company will succeed. Key areas you will need to cover;
evidence, telling your story, demonstrating community support and
matching it up with your business priorities.
It should be as short as possible with the most important information
in no more than 10-15 slides or by the time you have finished they will
have forgotten your pitch
Create well designed slides. Your presentation is often the first time
that potential investors (and even competitors) will hear about your start-
up idea.
Never read off your slides as the audience has probably already
scanned over it and they don’t want to hear something they’ve already
read.
Source: Irish
Investment
Network

Don’t bore people with useless charts and stats unless
they're absolutely necessary. Find a more creative way to
present the relevant information.
Choose your strongest presenter, regardless of their
position. Entrust your idea with the strongest and most
charismatic member of the team.
Use high quality pictures to help to tell your story.
People usually only retain 10% of the information that
they’re told verbally, but add a few photographs and that
number rises to 65%

Investors care about two things: potential returns and how
quickly they’ll get them. Tell them how you’re going to make that
happen – with credible data to back up your promises. Some
investors may even expect to see a detailed exit strategy included.
Structure your presentation carefully Don’t try to reinvent the
wheel — the classic framework is still the best
1. Present the market need, opportunity and differentiator – all
backed by external market sources
2. Dive into product specifics, go-to-market roadmaps and sales
strategies
3. Provide some background on the leadership team
4. Show financials, the multi-year outlook and exit strategies
Using this logical structure provides investors with just the
right amount of information at the right time.

How to Deliver the Perfect Business Pitch – 8 Shark
Tank Inspired Tips
1. Prepare, prepare, prepare
2. Practice your pitch in front of real people first, include strangers
3. Tell a great story and make an emotional connection
4. Promote yourself as a savvy business person
5. Make your presentation visual and interactive
6. Highlight product validation by talking about early sales
7. Come in with a negotiation strategy
8. Keep your cool
Source:
Full Article

Tank Inspired Tips
A great business pitch is among the first of many hurdles an
entrepreneur must jump to get their company off the ground. Your
business pitch can make a potentially life-changing impact on you and
your business.
A great pitch can bring valuable partnerships that come with even
more valuable financial incentives. Business pitches take place in a
wide variety of settings, from elevators, to offices, to cocktail parties.
Entrepreneurs have a short amount of time to tell their stories, sell
their products, answer questions, and overall make an impact that
they hope will lead to a major investment opportunity.Source:
Full Article

Tank Inspired Tips
Some of the most common questions Sharks ask of entrepreneurs on
the show are about sales:
What are your sales year-to-date?
What do you think you'll do this calendar year?
What do you think you'll make on it?
Source:
Full Article

13 Tips on How to Deliver a Pitch Investors Simply
Can't Turn Down
1. Take only 3 minutes
2. Turn your pitch into a story
3. Be laser focused
4. Explain exactly what your product or service is
5. Explain exactly what is unique about your product or service
6. Explain exactly who your target audience is
7. Explain exactly how you intend to acquire these customers
8. Explain your revenue model
9. Be wildly enthusiastic with focused confident clarity
10. Dress to kill
11. Practice your pitch
12. Anticipate questions, and answer each possible one ahead of time
13. Show them the exit strategy
Source:
Full Article

Craft your Perfect Pitch
Watch Pitch Coach David Beckett give you tips and tricks on how to
make a great pitch. Do the exercises he prescribes to help you get your
pitch perfect when you meet investors
Pitch tricks #1 How to Prepare
Pitch tricks #2 Communicating with your audience
Pitch tricks #3 Open your Pitch Like a Pro - David Beckett
Pitch tricks #4 How to Structure your pitch
Pitch tricks #5 How to End With A Bang
Pitch tricks #6 How to Manage Your Nerves
Pitch tricks #7 How to Stand out
Pitch tricks #8 The Importance of Time :
Source:
Full Article VISIT www.best3minutes.com for
David's work and more on pitching

Craft your Perfect Pitch
A pitch deck is a brief presentation, often created using PowerPoint or
other presentation tools, used to provide your audience with a quick
overview of your business plan. It consists of succinct ideas and great
visuals to support the pitch you’re delivering to your audience!
In The Complete Guide to a Pitch Presentation, you will
discover information, tips and tricks, and examples to deliver the perfect
pitch! You can go here to learn more about a 3-minute pitch.
Speaking of design, entrepreneur Daniel Eckler shares a great example
of how you can design your pitch deck. He walks the reader through
the philosophy behind the design of his startup’s pitch deck, with
explanations based on his experience, slide by slide.
Source:
Full Article VISIT www.best3minutes.com for
David's work and more on pitching

Craft your Perfect Pitch - Exercises
Check out this ultimate cheat sheet for your startup’s pitch deck,
providing you with ideas for your slides.
You will also get ideas and instructions to design a great pitch deck in
this Pitch-deck introductory lesson!
Source:
Full Article

Finally
A few articles and top tips that
founders have used to work smarter
in their business start up.

Richard Branson on How to Avoid Common Start-up
Mistakes
Q What are some of the most common mistakes entrepreneurs make
when starting out?
A ‘Making mistakes is part of the process of building a company; quickly
recovering from them is what's most important. It's all part of the
adventure of entrepreneurship, which will require all of your stamina,
drive and determination. But your way forward is not entirely
uncharted: When you notice an opportunity that has never occurred to
anyone else, there are certain steps to turning your vision into reality.
You must formulate an innovative business plan, find funding, hire the
right people to carry out the plan, and then step back from your role in
the business at exactly the right moment’.

Mistakes
An associated error is lack of focus. If your start-up has been tagged as
"the next big thing," the adrenaline rush that comes with building
buzz can lead to impetuous decisions and a loss of a sense of purpose.
Many entrepreneurs end up sprinting in many directions instead of
taking assertive steps toward their goal.
Getting too far ahead of yourself is also dangerous. If your product or
service is still on the drawing board, don't get sidetracked by plans for
future versions. As a general guideline, looking two or three years ahead
is best, but the nature of your business and feedback from your
investors will help you determine just how far ahead you should plan.

Mistakes
Step 2: Be Realistic About Costs
Don’t short change your start-up when estimating the funds you will
require — you’ll just diminish your chances of success. Keeping your
expenses under control is vital, but don’t confuse capitalization with
costs. The playing field is littered with undercapitalized start-ups that
were doomed from the outset.
Step 3 Hire the People You Need, Not the People You
Like/Know
As tempting as it may be to staff your new business with friends and
relatives, this is likely to be a serious mistake. If they don’t work out,
asking them to leave will be very tough. When Virgin starts any new
business, we always hire a core team of smart people who already
know the industry and its inherent risks.

Mistakes
Take full advantage of the knowledge pool you’ve created; when a
problem comes up, remember that nobody has all the answers,
including you. One of your goals should be to find a team who truly
shares your vision, and to whom you can someday confidently hand the
reins so that you can carry out the next step.
Step 4: Knowing When to Step Back
A great entrepreneur knows when the time has come to leave the CEO
role. It’s seldom easy, but it has to be done: few entrepreneurs make
great managers. In my own case, managing the daily operations of a
business simply isn’t in my DNA.
.

Apps to Boost Startup Success
.
Asana
Online platform streamlines internal communication and the process of delegating,
coordinating, and monitoring tasks. Everything is conducted in one central dashboard,
which makes managing workflows a breeze.
Venmo
With Venmo, sending payments is made quickly and easy. There are no forms to fill and no
fees are charged for transactions. The process of paying is actually carried out via text
messages and echoes the principles of a peer-to-peer (P2P) economy.
Invoice2Go Invoice2Go looks after your sales, billing and amounts due obligations
Seomater SEO
Crawler
Seomator SEO Crawler users are able to identify technical errors such as broken links and
non-responsive pages and improve SEO-friendliness of every inch of your digital real
estate. Ultimately, this drives your organic traffic and propels you towards the forefront of
the SERPs.
UberConference
UberConference, enables you to see participants’ LinkedIn profiles and record your
meetings. The set of features also includes HD calls, effortless screen sharing, handy call
controls, and easy joining.
Accompany
Accompany handle research, provide a comprehensive briefing, and prep you for
important meetings. It goes through personal data, biographies, and other sources of
information.
Source: Apps to Boost Start Up Success 2018

Apps to Boost Startup Success
.
Source: Apps to Boost Start Up Success 2018
Buffer
When used properly, social media campaigns add immense value to your business.
Employ Buffer and you will make it happen, a great publishing tool that lets you schedule the
content distribution across your social channels. With just a few clicks, business users can
ensure that everything is posted at an optimal time when customers are present to see it.
Skype/ZOOM
Skype and Zoom makes connecting with your clients, investors, teams and friends easiest
through messaging, calling and video calling. No matter where they are this professional
networking app allows you to connect with multiple people, share photos, videos and much
more
Doodle
Doodle radically simplifies the process of scheduling events, meetings, appointments tec.
Herding cats gets 2x faster. Free meeting scheduler.
Dropbox
Dropbox is the Secure File Sharing Solution Trusted By Over 500 Million Users. Share instantly,
offers cloud storage, file synchronization, personal cloud, and client software.
LinkedIn
LinkedIn lets you search people based on their qualification, job, industry, location and much
more. You can connect and stay in touch with them for cracking better business deals and craft
a brighter future. Also the right platform to share your ideas, showcase your work and build a
personal brand along with staying updated with important news related to your market.
Uber
Uber is one of the best transport apps allowing you to request a ride and pay via online in
multiple cities worldwide. No cash required.

11 Blogs Every Start-up Entrepreneur Should Read
.
Femmes of STEM blog
Aims to make women in science visible, the Femmes of STEM stands in
support of social media scientists.
Learnosity
This blog showcases industry trends, company news and product
updates. It sees to increase the invisibility of women in STEM and
connect female engineers and entrepreneurs.
For Entrepreneurs
Created by David Skok, a five-time entrepreneur turned VC. It offers in-
depth, tactical advice on the key issues founders and their teams face in
getting started, getting funded, and building a successful company
Venture Hacks
The blog of AngelList that presents “good advice for Start-ups.” AngelList
is a website dedicated to helping Start-ups with their funding, as well as
their manpower requirements
Startup Funding Book
Nicolaj H. Nielsen and Tomasz Gidzgier have co-founded a number of
companies in Sweden and other parts of the world. The pair are
passionate about venture capital and Start-ups, and they share their
insights and experiences with other Start-ups

11 Blogs Every Start-up Entrepreneur Should Read
.StartupManagement
William Mougayar, a four-time entrepreneur, startup strategist, and a VC advisor.
Looks at Start-ups from the point of view of the manager or owner with articles
meant to help the entrepreneur hurdle startup problems
ViperChill
"Viral Marketing" Glen Alsopp, a 21 year old truly living the internet lifestyle, to
share his insights and advice on how to build a successful business online
CBinsights
CBinsights tracks emerging industries and features disruptive Start-ups that will
not only get the ball rolling but also connect you with venture capitalists. Has
nearly 200,000 subscribers on the lookout for the next big thing in the startup
scene.
CrunchBase and
CrunchBase Daily
A great platform wherein you can discover startup and innovative companies, as
well as people who built them. Millions of business people, venture capitalists,
and analysts use this platform
Both Sides of the
Table
The blog of two-time entrepreneur and venture capitalist. Mark Suster is one of
the most influential bloggers about venture capital (VC)

www.stementrepreneurs.eu
Stementrepreneurs
http://stementrepreneurs.eu/contact/
www.stementrepreneurs.eu

Module 4 - Getting investor ready

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