GUEST POST from Arlen Meyers
Raising money is hard, whether it be for a for profit or not for profit. You will need a plan and the right people to do it. For most entrepreneurs, it is a full time consideration.
If you plan to raise money, here are some mistakes to avoid:
- Not having a capital raising plan
- Not learning how to tell your story or finding someone who can
- Focusing on features and not benefits
- A product or service that is not ready for investor prime time
- A product or service that is not ready for health system prime time
- Wrong people on your team
- You suffer from Founder’s Syndrome
- You suffer from Craniorectal Inversion Syndrome
- You make too many rookie mindset mistakes
- You don’t have a VAST business model that is evidence based
- You have not mastered the fundamentals of entrepreneurship
- You haven’t navigated the bumps in the road
- Not paying attention to new trends in financing ventures
- You are Linkedout and have limited networks
- Your website is all about you. I’ll bet you think this blog is about you, don’t you.
Here is why your startup will fail, and , more specifically, why your digital health startup will fail.
Raising money, like all business, is about developing relationships with the right people at the right time. Re-read How to Win Friends and Influence People.
Better yet, I know you won’t take my advice since that will take more time than watching a 3 minute You Tube video, so here is a summary. OK. Here’s the You Tube video too.
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