“So part of it is being really clear on what your goal is, and then think about who you need to help you get there, and then where do those people hang out?” – Judy Robinett
A major challenge today for entrepreneurs with startups is the issue of funding. My guest on this episode of Finding Brave shares her deep expertise on what the funding ecosystem really looks like, how you can get funded faster, the key issues you’ll need to have a grasp on regarding your venture to get funded, and more.
Judy Robinett is the author of the new book Crack the Funding Code: How Investors Think and What They Need to Hear to Fund Your Startup, and her previous book How to Be a Power Connector: The 5-50-150 Rule, #1 of The Top Ten Business Books of 2014 by Inc.com.
Robinett is a business thought leader who is known as “the woman with the titanium digital Rolodex.” She has been profiled in Inc., Forbes, Venture Beat, Huffington Post, and Bloomberg Businessweek as a sterling example of the new breed of “super connectors” who use their experience and networks to accelerate growth and enhance profitability.
In her more than 30 years of experience as an entrepreneur and corporate leader, Robinett has served as the CEO of both public and private companies and in management positions at Fortune 500 companies. She has been on the advisory boards of Illuminate Ventures, an early-stage venture capital firm based in Menlo Park, California; Pereg Ventures, a venture capital firm based in New York; and Springboard Enterprises based in Washington, DC.
She was a managing director of Golden Seeds Angel Network (the third most active angel investment group and one of the largest in the U.S.); the CEO of publicly traded Medical Discoveries; and she served on the faculty of Goldman Sachs’s 10,000 Small Businesses program. She consults internationally with businesses looking for U.S. investors.
Today, Judy offers a proven framework for taking action to get funding for your vision. As you’ll hear, there is no lack of funding available, but you must in the right room, connect with the right people, and know the rules in order to play the game.
Highlights from this Episode:
- What are the biggest fears that entrepreneurs have when trying to get funding and how they can reframe their mindsets around this [5:28]
- Where to start with your funding pitch and what absolutely has to be included in it [8:06]
- At what point in your business’s life should you be starting to seek investment [10:04]
- Why Judy wrote her latest book and how it can help startups get prepared to get funding [12:09]
- The biggest mistakes she sees entrepreneurs making and the prejudices that women face getting capital [14:54]
- How to find angel investors and early-stage venture capitalists [15:56]
- The 3 “C’” of what investors want from you [18:04]
- How the entrepreneurial mindset differs from the corporate one, and why Judy has always gravitated towards being an entrepreneur [19:36]
- The reasons why relationship building is critical [21:31]
- The way Judy personally evaluates an entrepreneurs’ pitch to her [23:39]
- Who you’ll want to surround yourself with to help you reach your visions [27:46]
For More Information:
Judy’s New Book, Crack the Funding Code: How Investors Think and What They Need to Hear to Fund Your Startup (with bonuses)
Kathy’s Forbes Blog with Judy, How To Avoid The Three Worst Blunders Entrepreneurs Make In Pitching Investors
She Means Business Documentary
“Realize what the investors need is a great deal, so their big problem, you can solve it.” [5:44]
“Switch your mindset and understand that you’re bringing an opportunity that they need. Focus on that.” [6:41]
“There’s no lack of money, but it’s really important how you position yourself, and you can make luck happen.” [17:43]
“The truth is you have to build relationships. People have to know, like, and trust you before they’ll fund you.” [21:33]
“Just learn to add value. Make an introduction, recommend a book, send an article, and show people you care. All of us need to be cared about.” [33:40]
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