How a Startup Finds the Right Number of Investors
Ben Milne, CEO of Greater Des Moines (DSM) startup Dwolla, shares insight on how finding the right startup investors will lead to a symbiotic relationship that, over time, creates the right environment for your business to thrive and find long-term success.
Do You Need an Investor?
In the video, Ben vouches for strong investors who offer invaluable experience. He touches on the need for investor wisdom and insight, that investors are the ones who pay you to be on your team. All startups require some capital or funding, and investors are one way to go about that without emptying your retirement accounts or maxing out credit cards.
When you’re building a business, it’s important to determine where the business could be in five to 10 years before reaching out to investors. Once you’ve determined this, pitch your investors and get them excited about where you’re heading, too.
Questions for Investors
What questions should you be thinking about before approaching an investor in an effort to raise equity capital? What solution does your customer demand? Who do you want on your team? What is your target market? These are just a few of the questions that lead to a successful pitch and securing those vital investment dollars.
Executing a Vision with Your Investors
Once you’ve engaged the right investors for your startup, begin the journey to executing your vision. With the right investors, your startup will have access to people with endless experience and can help you understand your core growing customers. Ben explains how with the right people behind you, you can do amazing things with your business.