One of the biggest mistakes tech startups can make is failing to realise that raising cash from investors can be a full-time job and take months. When you’re out and about, pressing investor flesh and running through your ‘show me the money’ presentation for the millionth time, who is running your business? Preparing, pitching, doing the books, reading the contracts and – hopefully – sealing the deal can be a time black hole and founders can’t afford to take their eye of the ball when it comes to their day job. So, in short, don’t.

My first tip for founders venturing into the funding process is surround yourself with the very best people that are capable and willing to run the business in your absence. As your business grows, you can only juggle managing your company with developing your product, marketing it, selling it and raising investment for it for so long. You also have to recognise that you’re not an expert in absolutely everything. I soon realised as we started going through the funding process and growing Huddle that I needed to get the very best people in their respective disciplines to help maintain that growth. So whether it is sales, marketing, HR, accounting or other areas, don’t try and wing it yourself. Hire people you trust to keep the company running and use external resource if you need to.


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