Starting a business venture is not easy now-a-days. But what if someone is offering the support to the new comers in the area of start-ups from start to the end. Sominder Singh is the person who is doing this. He guided thousands of people with start-ups from beginning to end. He is the voice behind the podcast “Fundraising Made Easy”.
What made him start a podcast?
He himself is an entrepreneur and so knows all the ins and outs of the same. He has now been working for almost 20 years and has worked in 15 distinct nations. This all experience of his had added to what he is doing now. He thought of starting the podcast when he came across committed and determined entrepreneurs who expected to make unprecedented ventures and yet knew nearly nothing about where to start or how to raise the funds and what to do and not do while establishing a new business. As Sominder saw the potential and zeal that they expected to take their ventures to a more bigger level. Having been there himself, Sominder comprehended that something ought to be found on a mission to help these entrepreneurs. This drove Sominder to start his podcast, where he doesn’t need to show entrepreneurs the confounding subtleties of gathering pledges yet, and, additionally, he can furnish them with cash-related ally data to the clients at no cost.
In his podcast, Sominder talks about the major obstacles to fund-raising and what the best technique is to beat them. With not such a lot of important and relevant information available on the web, new entrepreneurs can get fazed and start building disarray. Sominder helps those entrepreneurs by isolating the information and breaking those misinterpretations.
Through his podcast, Sominder stays with the organisers ceaselessly, from beginning a business to picking a social event and up until truly raising funds. Sominder’s central goal is to make this world a predominant spot by assisting businesses and people to effectively raise funds.
The podcast Fundraising Made Easy covers the following key points of business:
Connection to the problem is not necessary:
In the 10-minute session of this podcast, Sominder talks about how the connection to the problem your start-up is solving is not important.
Do not fake it to make it!
Tell your investor the real reason you are into the scene. Even if that is money. You might not have a personal connection but might be a member of your team do understand it. Investors are into it for the money. So, be honest and give them the right answer. He also shared one of his personal experiences and how it worked in his favor.
Hiring advisors is a bad idea:
Hiring advisors at the beginning of a venture might not be a good idea and naturally won’t do you any favors. Having an advisor so early might scare off the investors as they might think you are not confident enough for your own venture. Do what is right for you to attract investors.
The fastest way to close your funding round:
It is not about building relations. Investors are not looking forward to being flattered they might come across many people. When you have the required data talk to as many investors as you can. And fulfill your purpose.
And well exceptions are everywhere.
Not having a co-founder is good sometimes:
When an investor invests in you they want security. They might not want to take up the offer if there are a lot of risks involved. When there are two investors and one of them is not much dedicated to the venture then it is a bad sign. Also, all the partners had to be in the venture a full time there is nothing called part-time involvement in start-ups like this.
So, if the investors see any risk or glitch which they will they might back out.
Red flags that investors will spot in your start-up.
Bringing in an advisor. It is never a good idea to do that. They might see it as you don’t have the full idea about your own venture. That might be a different case that which one of your investors is an advisor, in this case, will work as bonus points for you in front of the other investors you might approach.
Also, there is a difference between things going on fast and having an urgency. Never show any urgency to your investors that might sound fishy to them.
Sominder post such an informative podcast every week, which is of great help to the people with start-ups. All his episodes are 10 minutes short and full of useful information.
Postcard link –https://open.spotify.com/show/1jo0qyMDpoBAggSAgnALts.
