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Building your Entrepreneur Ecosystem

Investing /

2 min read Building your Entrepreneur Ecosystem Your Checklist on how to build an Entrepreneur Ecosystem in your Area   Startups need networking, mentoring, and funding. A robust entrepreneur ecosystem fosters connections between the startup and a network of providers, mentors, and investors. Each type of startup: high-growth, tech, consumer product-related, healthcare, etc., will need a unique set of networks (people to hire and contract), mentorship (people who can guide and coach the startup), and funding (people who can invest in the business).   The following are a series of steps you can take to build a solid Entrepreneur Ecosystem in your area. Step #1: Map the Startups in Your Area The first step to growing your startup community is to identify the startups in your area. Start by mapping the location of each company. Then, you’ll want to capture the type of company, location, and stage of growth, categorize them by sector (healthcare, tech, consumer product goods), and then subcategorize by stage (seed, early-stage startup, late-stage startup). Having a solid list will give you a great place to start. Step #2: Map the Existing Startup Resources in Your Area The second step is to identify the startup resources in your area. Build a list of groups, organizations, funds, and other accessible resources, and then categorize each by offering (networking, mentoring, funding) and subcategorize by stage (seed, early-stage startup, late-stage startup).   Step #3: Choose the Type of Startup You Can Support Next, you’ll want to choose your entrepreneur type to support and be intentional about it. Understand the type of network they need, the type of mentorship they require, and, importantly, the kind of funding they need.   Step #4: Identify the Gaps in Resources The fourth step to growing your startup community is identifying the gaps between the resources needed and those available.  Identify the missing network, mentorship, and funding resources in the area.   Step #5: Recruit the Resources to Fill the Gaps Once you have identified the gaps, it’s time to recruit the resources to fill the gaps.   Step #6: Setup a networking platform to facilitate the connections The last step to growing your startup community is setting up a networking platform to facilitate the connections Recruit network resources. Having a platform will connect startups to providers, suppliers, customers, etc. It can also connect startups to advisors, mentors, and coaches through pitch sessions, online portals, and much more. Read more: https://staging.startupfundingespresso.com/education Hall T. Martin is the founder and CEO of the TEN Capital Network.TEN Capital has been connecting startups with investors for over ten years. You can connect with Hall about fundraising, business growth, and emerging technologies via LinkedIn or email: hallmartin@tencapital.group

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The Challenges of Investing in the Impact Space

Investing /

1min read When it comes to impact investing, the truth is this: It’s harder to invest in the impact space than in the traditional venture space.  That is not to say that the traditional venture space isn’t hard. Of course, investing in the venture space is quite tricky on its own. However, impact investing holds a set of challenges unique to its sector. One thing that new investors interested in impact should keep in mind is that these are investments that take time. It is not uncommon to wind up making an investment and holding on to it for 5-8 years, on average. Fundamentally, impact investing is not for the faint of heart. It requires a tremendous amount of focus, and you should only be investing in areas where you think you can affect the outcome. Otherwise, the time you spend with it may not be worth it. It’s also essential to take your time and ensure that you’ve put in the work to make the entrepreneur and first five people of the team resilient individuals. After all, they are likely in it for the long haul, too, and it all comes down to emotional resilience. Make sure that the team has figured out how to take care of themselves through the process of starting a company. Many times, these early-stage entrepreneurs offer a lot of opportunities to investors, but if the individual hasn’t spent time on him or herself, there’s going to end up being corners that get cut. It is at this stage investors begin to see some of the messiness, especially the ethical hang-ups that can happen with new companies. There are a lot of opportunities around the world to open up markets for these individuals, but you have to make sure that they are well prepared for the ride. Read more: https://staging.startupfundingespresso.com/education Hall T. Martin is the founder and CEO of the TEN Capital Network.TEN Capital has been connecting startups with investors for over ten years. You can connect with Hall about fundraising, business growth, and emerging technologies via LinkedIn or email: hallmartin@tencapital.group

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New Investor Risks

Investing /

1 min read As a new investor, entering into the world of investing can be an exciting time. Opportunities can seem limitless, and they are, especially as the world’s talent pool continues to expand in ways we’ve never seen before. When you’re just getting into the game, there are a couple of steps you can take to increase your chances of success. The first thing you should remember is: Networks are a priceless resource for countless reasons, especially for a new investor. One of the main advantages of a robust Network is having a place to ask questions. The more questions you can ask, the better. When you’re just starting out, you’re going to spend some time in a learning phase. Take this time to soak up all of the information you can; a good network will make all of that information available to you. All you have to do is ask and be open to learning. Another vital thing to keep in mind at the very beginning is: Don’t get overexcited. You might find a few companies with a solid pitch and great founders. The founders are excited, so you get excited, too. Inevitably, new investors who are too eager will write a check to startups who will, as most do, close their doors. This outcome is simply the nature of the space. A number of the startups you invest in will fail because, no matter how much you want them to be a winner, the startup world is a numbers game. Often, this leads to frustration, and many investors choose not to re-engage in the investment world because they feel they’ve “been burned.” However, you can minimize the potential risk. Instead of getting caught up in the excitement, try to take the first 6-12 months to familiarize yourself with the ecosystem. Ask a lot of questions and then write your first check. Continue to learn and ask questions along the way. Focus on building your portfolio slowly and with the correct education. In the end, this will help reduce the risk of failure. Read more: https://staging.startupfundingespresso.com/education Hall T. Martin is the founder and CEO of the TEN Capital Network.TEN Capital has been connecting startups with investors for over ten years. You can connect with Hall about fundraising, business growth, and emerging technologies via LinkedIn or email: hallmartin@tencapital.group

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Your Pitch Deck Slides

Fundraising, Other /

2 min read Every startup is going to need a pitch deck if they intend to raise funding. So, if you’re new to the startup world, here’s a brief overview of the slides in a pitch deck and their purpose: Title – This will always be the first of your pitch deck slides. Your title slide should be unmistakably clear. It should convey the style and culture of the company. Problem – It’s important to start the pitch with the problem you are solving so the investor has a frame of reference for your startup. Show how this is an important problem that must be solved. Solution – After you have presented a problem to the investors, this becomes your chance to show how you intend to solve that problem. This gives you a chance to sell your startup to the investor. Make it count. Market – The market slide shows the size of the opportunity. The bigger the opportunity, the better. Monetization – The monetization slide has one basic goal: it answers the question of how you make money. Traction – For this slide, you should be able to show current sales as well as the funnel of upcoming sales opportunities. Be sure to include forecast numbers for each opportunity. Competition – The competition slide is useful because it often helps highlight the market size. Competitive Advantage – Make it a point to show what value the customer receives from your product/service. Team – This is your chance to showcase the people you’ve brought on board with your company. Value Proposition – The value proposition slide serves to show what value your product/service brings to the customer. Financial – The financial slide is used to give the current status of the company with respect to revenue, expenses, and profit. Investment Opportunity – This slide functions to show your fundraise target and how much is raised so far. Read more: https://staging.startupfundingespresso.com/how-to-build-a-pitch-deck/ Hall T. Martin is the founder and CEO of the TEN Capital Network.TEN Capital has been connecting startups with investors for over ten years. You can connect with Hall about fundraising, business growth, and emerging technologies via LinkedIn or email: hallmartin@tencapital.group

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The Importance of Your Pitch Deck

Fundraising, Other /

1 min read A pitch deck is a huge step toward funding for a startup. In many cases, this is the first tool of communication you’ll reach for when presenting your ideas to an audience and first impressions count. A good first impression during a job interview may lead an individual to the career of their dreams, however, a good first impression during a pitch can lead an entrepreneur toward funding their dreams. A pitch deck is a brief presentation that provides your audience with an overview of your business. Ideally, the deck should answer any general questions an investor might have. The goal of the pitch deck is to introduce your startup to an investor. Additionally, the pitch deck should also serve as a way to highlight any essentials to an investor who may be considering your startup as an investment opportunity. What a pitch deck is not is a means to explain the full history of your company. It is also not a means to explain how your product works. These topics can be covered later on. Instead, focus on making a strong introduction of your company to the investor and do everything you can to leave a good and memorable first impression. Just as important as a strong first impression, is the proper follow up with an investor. After you’ve made your pitch, be sure to schedule a follow-up meeting with them. Use your meeting time to answer any questions the investor might have. Also, take advantage of this time and ask the investor questions you might have. Make sure you have new information to share. Give the investor a reason to join the call to learn more. The goal here is to keep the investor engaged well after you’ve made your pitch. Read more: https://staging.startupfundingespresso.com/how-to-build-a-pitch-deck/ Hall T. Martin is the founder and CEO of the TEN Capital Network.TEN Capital has been connecting startups with investors for over ten years. You can connect with Hall about fundraising, business growth, and emerging technologies via LinkedIn or email: hallmartin@tencapital.group

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Managing Your Expectations

Fundraising /

1 min read Being an entrepreneur and starting your own business is a rewarding accomplishment for any individual. As rewarding as being part of a startup may be, it is no secret that the job also comes with its challenges. Some may be foreseen; others, not so much. However, the one thing any fellow entrepreneur or investor will point out is that these challenges are almost always more difficult than expected. One of the most important things anyone can do as an entrepreneur is this: Manage your own expectations. Creating something from scratch is subjective and there’s no limit to what you can dream up or accomplish. As wonderful as this is, a limitless business idea can also be a downfall. It can do more harm than good if you don’t have a grasp on expectations. You have to give yourself the opportunity to make mistakes. It’s important to understand that things don’t happen overnight. Give yourself time and be realistic with your timelines along with what you expect to accomplish. Allowing your expectations to have too much freedom means you may start making promises you can’t keep. Don’t promise the world to your investors. Chances are, you won’t be able to give it to them. Investors don’t like it when people come in and try to promise them everything, even if everything is possible. Instead, give the idea some cushion and yourself some room to make mistakes. Always try to have a contingency plan. You can’t just say plan A is going to work right away. Plan A hardly ever works the way you want it to. Always have a plan B in case plan A fails and keep those expectations in check. Read more in our latest eGuide: https://staging.startupfundingespresso.com/education/ Hall T. Martin is the founder and CEO of the TEN Capital Network.TEN Capital has been connecting startups with investors for over ten years. You can connect with Hall about fundraising, business growth, and emerging technologies via LinkedIn or email: hallmartin@tencapital.group

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Space Tech: The New Investment Frontier

Investing /

1 min read For the first time in human history, 2020 has seen the launch of a commercial rocket carrying passengers into space. This would have been considered “science fiction” not long ago. Today, space tech is a lot less “fiction” and a lot more science. Even more importantly, investors are taking notice. The space tech and exploration sectors have seen an explosion of activity in recent years. Investors are flocking to startups that want to be on the cutting edge of a new era. Many investors now see countless opportunities in space colonization because it is no longer a matter of “if”, but “when.” Leaders like Elon Musk are pushing humans toward the next step of exploring the stars. This drive has created an ecosystem that dozens of companies are being built to support. We’re even seeing plans to build out hotels in space. One example is a company called Axiom. They provide crew missions aboard the International Space Station today, while building the commercial space station of tomorrow. Axiom will be the first private company to take control of building out the new international space station, something NASA typically controls. That said, with every new venture comes challenges. One thing investors have pointed out is that the next hurdle for commercial space travel is going to be building out a true communications infrastructure that safely allows for and regulates the ability of space travelers to communicate with each other and with those back on earth. As SpaceX has shown us, however, we are ready to leap out into this new frontier and explore the new opportunities awaiting us. Read more in our latest eGuide: https://staging.startupfundingespresso.com/education/ Hall T. Martin is the founder and CEO of the TEN Capital Network.TEN Capital has been connecting startups with investors for over ten years. You can connect with Hall about fundraising, business growth, and emerging technologies via LinkedIn or email: hallmartin@tencapital.group

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Your Data Room: What it is, and How to Build One

Fundraising, Investing /

A data room, sometimes referred to as a “due diligence box,” is a cloud solution made for the sharing and securing of sensitive business information. A data room should not be confused with a simple cloud storing service. When handling confidential information, you’ll need features such as rights management and Q&A. The goal here is to maximize your fundraising potential by being organized and demonstrating that you respect the investor’s time by being prepared. Having a well-organized folder is also an opportunity to show investors that you have a real business and are ready to raise capital. This data room contains vital documents about your business and is incredibly useful to your potential investors, so it’s essential to keep it both functional and secure. The materials in your data room should include:  Entity filings Patent filings Articles of incorporation Income statements Balance sheet Other documents detailing your business  Investors who want to invest will look for these documents so they can run their due diligence on you and your business. The more simplified you can make this process for them, the better. Spend some time putting your data room together and make sure you have all the necessary documents for your investors. Most importantly, be prepared and have these documents ready before you begin your raise. Continue reading in our most recent eGuide: How to Prepare for Your Fundraise   Hall T. Martin is the founder and CEO of the TEN Capital Network.TEN Capital has been connecting startups with investors for over ten years. You can connect with Hall about fundraising, business growth, and emerging technologies via LinkedIn or email: hallmartin@tencapital.group  

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Get to Know Your Investors

Fundraising /

As you go through the process of gaining introductions, contacting investors, setting up meetings, and pitching, remember the fundamental goal is to come away with a stronger relationship with the investor. A stable relationship with the right investor can single-handedly change the course of your business. Think about it this way: Each interaction is an opportunity for the investor to get to know more about you, but you are also getting to know more about the investor. Say the pitch didn’t go as planned, or the meeting didn’t stay on track, that’s okay. The most important thing is that you still grew the relationship. You want to get to know the person who is investing in your company. Ideally, you want to share similar goals and interests with them. Things will go much more smoothly if you’re both on the same page.  Having a strong relationship with your investor is essential. This person is likely to be in your life for a while; they’re certainly going to be there through ups and downs, so making an effort to get to know them on a personal level is essential. These individuals generally offer incredible business astuteness and resources to help your startup succeed. Continue reading in our most recent eGuide: How to Prepare for a Fundraise Hall T. Martin is the founder and CEO of the TEN Capital Network. TEN Capital has been connecting startups with investors for over ten years. You can connect with Hall about fundraising, business growth, and emerging technologies via LinkedIn or email: hallmartin@tencapital.group

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