In case you haven’t heard, StartupPlays.com is the hottest “startup for startups” with an all-star lineup of successful entrepreneurs who share their founder recipes on how to do everything from getting amazing press for your startup (Adrian Salamunovic) to building a content strategy to drive millions of readers to your blog (Dan Martell). Past and upcoming authors include Jeremy Olson (Tapity), Cameron Herold (1-800-GOT-JUNK), and Aaron Hall (DressRush, Member of 500 Startups).
Today we launched the newest Play with local startup celebrity Sam Zaid on how to raise money for your startup. I had the chance to sit down with Sam (CEO of Getaround.com and winner of 2011 TechCrunch Disrupt) to talk startup funding and he had some great insights on how startups should structure their business and focus on milestones to make funding much more straightforward (and successful).
Here are some of the highlights:
- How to determine when you need money and alternative funding mechanisms
- Do your research and hand-pick investors that will be a good fit
- Setup milestones for your business. Check with investors to see if they’re the right milestones
- How to know when you’ve nailed a pitch
- Tips on how to negotiate the best terms (and to get term sheets)
Raising money is a prerequisite for most startups – especially startups that want to scale and are working on the BIG idea. If you’re launching a new startup or thinking about raising money in the future – you should buy this play NOW – not the night before your first pitch.
(note: I’m affiliated with the StartupPlays.com website… but I still think its ingenious!)By Scott Annan