Sep 3, 2021
Welcome back to another episode with Andrew Romans. In the last episode, we defined venture capital (VC), angel investing, and private equity, and we discussed three ways to de-risk venture capital, and how entrepreneurs can leverage technology. In today’s episode, we’ll discuss how to raise capital for your business.
How to Start Raising Capital
Here are a few of Andrew's ideas on how to start raising capital for a business.
Build the Team First
When Andrew founded Global Telecom, he recognized that he was young and didn't have a lot of experience, so he decided to build a great team. He recruited the former CFO of AT&T and other top professionals in different fields and signed employment agreements with them contingent upon $5 million of funding. Then he was able to go into the VCs and say, “It's not just me, here's the team.”
Andrew said, “Go out and recruit people. If you can recruit really top people in this talent war where they have so many choices, that says something to investors.”