I recently wrote about how mentors can best guide founders in one-on-one sessions, and how those founders can best prepare for those sessions in order to take full advantage of their time with mentors. But what if you’re scheduled to sit down with an investor? Is preparation essentially the same, and what are investors looking for? Here’s how to be prepared.
About a year ago, I wrote a blog post that’s been one of my most-read posts to date. The post was all about why and how startups should define their market size to generate investor interest and excitement. I still firmly believe this is one of the most important things startups can do. And yet, Reilly and I continue to turn down company after company that approaches GAN Ventures without a market size large enough for investment. Here’s why it’s so important.
No matter where you run a company, you’re probably making trade-offs. There are pros and cons to operating anywhere, for sure. And, if you’re an investor, funding companies in smaller cities can feel riskier than you’d like. But here’s why we love investing in small cities and why you should, too.
This past week, I took a look at the 25 investments that GAN Ventures has made so far. Mostly, I was just checking to see who I’ve followed up with lately and who else I should reach out to so that I could say hello and see how things were going. But while looking over the list, I started to wonder if there might be any common denominators across the group. Meaning, I started to ask myself, “Is there any similar trait or feature that each of the companies in the GAN Ventures portfolio share?”
Most founders think that an initial phone call is the most important interaction with an investor. But, here’s what they’re missing when it comes to following up well and how much their consistent behavior—during a call and beyond—affects our decision to invest.
GAN Ventures has invested in about 20 companies and, in 2019, we’ll invest in 20 more. That means we’re talking with a lot of startups and, when I think about it, all of our investments seem to have some core things in common. It would be easy to simply say that we choose to invest in founders that we trust, but I thought I’d give you more specific insights into how founders have built that trust with us. Maybe it will help you on your next fundraising call.
A few months ago, my partner at GAN Ventures, Reilly Flynn, had a call with a startup looking to us for investment. Ever since Reilly told me about the conversation, I can’t stop thinking about the story. Here’s what happened—the part that still sticks with me.
Investors are constantly telling startups what kind of money they’re investing, what industry they want to invest in, and what stage of company they’re interested in putting their dollars toward. But hardly anyone ever talks about “soft” skills—the ones that are so critical to the success of a company but unfortunately so rarely discussed. Here’s why that needs to change.
Ask anyone what it’s like to raise money, and you’ll probably get one answer: Raising money is difficult. Very difficult. Just how difficult? Our data show that it takes the following amount of months, on average, for GAN Startups (the nearly 9,500 best-in-class companies that have been through one of 100+ GAN Accelerators around the […]