Startup Funding Espresso -- Five Questions to Reach the Answer
Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing. In talking with startups, I find the investor must always probe for the final answer. A single question rarely reveals the full answer. I spoke with a startup recently who said, \u201cWe\u2019re raising a million dollars and we have raised half of it already.\u201d On the surface, it sounded like they had $500K invested in the business. So I asked, \u201cThat\u2019s great. You have $500K in the bank already from your raise?\u201d to which they responded, \u201cWell not exactly. We have several investors telling us they are interested in investing.\u201d After four more questions, it came out that they had $100K in the bank and around $300K in soft-circled commitments.\xa0\xa0 It\u2019s good progress, but not exactly the half a million we heard at the beginning. Never take the first statement as the final answer.\xa0 It takes at least 5 questions to get down to the real answer, and as an investor, you want to know the real answer. Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.Let\u2019s go startup something today. ___________________________________ For more episodes from Investor Connect, please visit the site at: \xa0 Check out our other podcasts here: \xa0 For Investors check out: \xa0 For Startups check out: \xa0 For eGuides check out: \xa0 For upcoming Events, check out \xa0 For Feedback please contact info@tencapital.group