There are many misconceptions about investments, especially when it comes to startups: how the pitch is the most important part of the application, to apply with an idea only, how the team is not really important and the list goes on. We want to give you 3 powerful tips to save you from doing double work and ping-ponging back and forth between investors who say no.
Tip #1 – The idea
You got a great idea and it is an awesome start. But an idea unfortunately won’t be enough to convince any investors unless you can provide rock-solid proof that you are capable of realizing it – like at least one or even two previous companies of your that have been successful and you either exited or went onward but kept some of your rights. If you are not a serial entrepreneur with a charming score table behind you, you will have to make the idea work before going to an investor.
Tip #2 – Pitch
Oh, yes, that pitch! We still see a lot of meetups, even conferences about the pitch, and although we do not want to deprioritize it too much, it is definitely not that important as it seems from a fresh starter’s perspective. Imagine your company being a young adult at a party: it does matter what clothes you wear, but the looks, your smile, your style, and what you say is going to be where you others judge you. It is something similar with companies – regardless of how perfectly balanced, right-on-time your pitch is, regardless of your jaw-dropping presentation slides, it is only a door-opener, if anything. If your company or at least your team is able to create results (make money, improve something, etc.), that is the information we investors are looking for.
Tip #3 – Teamplay
The ugly truth is that the best teams are rarely your high school buddies. You need professionals (it is still not about age though), who live and breath their field of expertise. You, as the leader of the team, should be good at hiring, build trust, and making others believe in you and your vision. It doesn’t matter if you are not the best of salespeople or the new revolutionary growth hacker, because you, as the CEO, should be the captain. Get the best onboard!
Eterna Ventures is a group of digital marketing professionals, with 10+ years of experience. EV was formed to invest in already operational e-commerce companies, that are already leveraging the power of paid online advertising for driving new sales. Eterna’s unique approach is to invest in online advertising campaigns (such as Google & Facebook) and to find the right influencers to promote the company. EV also provides access to their broad network of professionals, who mentor and guide all team members of the investees’. With a sole focus on companies that have already been able to generate revenue, the goal is to provide all the necessary capital, expertise and network to make these companies grow by scaling the revenues through their paid online advertising campaigns.