So you have the idea and have started a company or are about to start your startup, but when should you raise money? In this episode of eLagaan Whiteboard Friday, the eLagaan team discusses when should a business or an entrepreneur look to raise money (be it friends & family, angel funding or venture capital).
The video also discusses following topics:
* Whom should you raise money from
* Who the investors will invest money in
* Why do venture capital invest money (briefly understand the venture capital lifecycle)
* What are lifestyle businesses and will investors invest capital in such business or startup
* How are angel investors different than regular investors or VCs
* What does it mean when people say does your business have traction
* Does quitting your job play any role in getting funding
* How much money should founder invest of their own
* Why does velocity of execution matter
Hopefully these tips from a serial entrepreneur (Naeem Zafar*) will help you make better business decision early on.
In the below video, Naeem makes an important point that very few scalable businesses can be done with your own money (unless you have plenty of it).
* For the uninitiated, Naeem Zafar has done 6 startups so far (is now the founder of BitzerMobile) and he has extensive experience in mentoring and coaching founders and CEOs.
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