for W3c validation
So, how do you get on the radar of VC’s (and get funded)?? That’s the question many entrepreneurs are dying to find out…and, in my opinion, it all comes down to networking. The best and most proven way is to get introduced to a venture capitalist. Knowing connected people can open doors you never thought possible. All the brains in the world can’t help you if you can’t even get in front of a VC to make your pitch. Enough said.
My answer to this question of “how to get funded?” came from a journey through blogs- following the links! The journey- Opening my RSS reader, reading an interesting post on TechCrunch, engaging in the conversation, finding a couple of relevant links in the comments section, and then exploring even further. What did this journey make me realize? It really dawned on me that business is all about who you know- which isn’t such an earth-shattering realization. While PopSugar, the blog network that just raised $5 million, may be a great blog with lots of potential advertising revenue- it would have been very difficult to get funding without great connections. You’ve undoubtedly heard of “Six degrees of separation“- use the concept and tap into your network. Use LinkedIn or Myspace or Facebook (or one of the other hundred or so social networking platforms that have popped up recently) to find out who you are connected to. Good friends will gladly help you meet the right people.
The best way is to find someone to make an introduction, as this inherently qualifies the company; it’s not that hard – six degrees of separation and all that. They can look at the existing portfolio for example.
Failing that, a direct approach to the right VC with the right pitch. Preparation helps; the entrepreneur needs to know enough about how venture works to know it’s right for them and their business, know which VC at which firm is likely to be most interested (read bios on web sites) and be able to explain the business well.
Hope you enjoyed my journey…I know I did.