Initial funding became an important part of the growth of a startup. For the smooth flow of initial funding, attitude becomes an important part. There are several things that a startup should avoid when seeking initial funding from the angel investors list they have set up before. Here’s the explanation!
1. Do not overdo it when applying for funding
The amount of funding is very relative, it will rely heavily on business specifications, including the type of business, business scope to the milestone outlined in a certain period of time. Even in some circumstances, the startup will be more solid standing with a mediocre capital, because the scaling process will be more awake. With too much funding, sometimes startups have to make decisions when their capabilities are not ready. The right portion will bring the startup more efficiently and better understand what it really needs to be prepared for the next process of achievement or funding.
2. Do not pursue investors who do not fit their fields
If enforced this circumstance will potentially bring startup uprooted. Investors who do not have a background in the cultivated field are likely to provide less realistic targets for existing conditions, either in the market or in accordance with the startup capabilities. Then investors do not just offer to fund, but they also bring support (sometimes technical and non-technical) to bring connections with other business partners. If the field matches, surely the support will be more leverage flow to startup. Startups and investors can be wise by filling in each other for the advancement of the business. Basically, both have the same ideals and achievements, namely to build synergy. With the same field of interest, ideally, the synergy will be easier to wake up.
3. As much as possible do not attract investors who have invested in other startups with the same field
This point becomes a bit of a contradiction to the previous one. This situation poses a risk of conflict of interest in accelerating startup business growth. But now most investors have also taken this into account, not to invest in a business with the same product and market share.