In this week’s hack, acclaimed investor Tomi Davies gives a short masterclass in taking on your first capital after putting your own money in. He talks viewers through the steps needed to “package your business” to improve your chances of getting the funding you need. For your pitch deck, he explains how “You start with the vision, and end with where you are trying to get to, to bring that vision to life”. Then he moves on to the types of funding, term sheet, and the areas of due diligence leading to the signing and the cheque, if all goes well. The work of living up to expectations then begins as founders get mentored and networks get activated till the point of “exit’.
VentureReady Hacks with Tomi Davies
Startup Setup series
Maybe you are figuring out what kind of company to set up or exploring an idea you want to develop; You may have a few doubts, dilemmas, misconceptions, and questions that you’d like to clear up for yourself before you quit your day job. Starting a business is a major decision not to be taken lightly, but it’s also a great adventure. Like everything in life, the way you start is likely to have a lingering impact on everything that follows.
The Startup Setup series of hacks is about helping you prepare for life as a startup founder or leader. The best advice you can get is from those who successfully traveled that same path, who are farther along in their journey, or who have spent a lot of time in the ecosystem working alongside budding entrepreneurs.
Next steps
- If you liked that knowledge nugget, you will enjoy the Start Your Business course in the VC4A Startup Academy
- For realtime expert guidance click through to the Mentorship Marketplace where you can make a mentorship request to hundreds of mentors
- Discover advice on how to initiate, structure and develop a great relationship with mentors in the Mentorwise Podcast
- Learn about resilience strategies and get priceless advice from some of our community’s most successful startup founders in the Founder Series podcast