This advice from Mark Suster may be targeted to ventures raising equity funding from VCs, but much of it applies to planning any fundraising campaign.
Instead of asking friends if they know “any investors”, use Angel List and other sources to create a target list.
Here are some of the things founders can say or do that will immediately brand them as amateurs or sub-par performers in the eyes of prospective investors.
If you are new to fundraising and need to know the the difference between an angel investor and a VC, here you go.
In less than 15 minutes, David Rose describes the basic motivations, outcomes, and structure of an investment pitch.
Startup L. Jackson tweets hilarious and insightful commentary about the tech startup world (follow @StartupLJackson). Infrequently, like now, he writes a more in depth blog post that is crazy insightful.
This post gives advice to the Y-Combinator class as they get ready to raise capital. It advises the startup how to take ownership of its fundraising process. Most importantly, he advises to know what capital the company will need in an A round (the round after the one they are raising now), then determine what resources and goals it will need to achieve to be prepared to raise that kind of an A round, and then to structure its seed round to get there.
Like other brilliant advice, it sounds like common sense – after you read it. There’s more good stuff, too – go read it.