How to Ask for Money
Entrepreneur, Gregg Semler pulls no punches in this clear-eyed overview on how to ask for money. He has spent his entire career as an entrepreneur and venture capitalist, and asking for money has been a constant. He has raised over $100 million and knows what he’s talking about. His biggest tip? Embrace it.
Download Gregg’s fundraising activity spreadsheet.
In this episode you’ll learn about:
- The art of asking for money, and why an entrepreneur needs to embrace it as a lifelong commitment.
- What simple tools you can use when asking for capital.
- How asking for money is a “numbers game” and how to make that work for your business.
- When and how to ask family and friends for capital.
- What to say in the fundraising meeting.
- How to build a solid network with intention.
- What is a solid process when approaching someone for funding – before, during, and after the inteask.
- How to integrate criticism into your pitches.
- What to include in the pitch – slide deck content, business plan, and key questions.
- What’s the best story to tell, and how to find it.
- How to create momentum. The first, second, and third investors, are the hardest.
- How to get people to commit, to rally funding, and to share your wins.
- What’s the magic number? What should you shoot for in the first few months?
- What your “Use of Proceeds” should include so that potential investors can understand and get excited about their dollars going to a specific thing that will cause the company to gain. How to create urgency.
- What’s the single most important thing to say in a fundraising ask?
- What follow up reporting and communications are important? What timing is best?
- How should you answer the question, “What’s keeping you up at night?”
- What’s going to make you stand out among everyone clamoring for someone’s money?
- How to start an investor conversation at a tradeshow or investor event.
Download Gregg's fundraising activity spreadsheet.