Like podcasts, start-ups are are taking over the world! Everyday there is a new start-up doing something new and useful, but the greatest of great things start from humble beginnings. For a start-up, those humble beginnings invariably involve passing through the crucible of fundraising. Now, PodUnion's focus is not just on podcasts, because our true love is actually the intellectual stimulation and stories the podcasts contain. As such, we present to you (specifically the start-ups and entrepreneurs in the room), an insightful Youtube speech given by Daniel Eberhard, CEO of KOHO at a TechToronto.org event in January 2020. As a guy who has been through each stage of a start-up, Daniel provides vital tips about one of the most feared and annoying parts of the start-up game--raising capital.
Luckily for you, Daniel provides key high-level insights about raising capital with "intention" that most "how to raise capital" articles or discussions probably overlook. And he does it in just over 8 minutes. His most impactful point is his discussion on purpose because as we see it, purpose is what investors are looking for. It is one part mission statement and ten parts intangible, you can't always put your finger on it, but it differentiates your start-up from the standard start-up. Its the thing that Daniel says can sustain you though all the business "bull-sh*t" and can make you an outlier. Like Daniel explains, in the early days of a start-up investors have very few data points from which to make a decision. And he's right, so having a clear purpose is the type of thing that can get investors to cut though all of your fluffy projections and estimates and chose your start-up based on their gut.
Finally, in a world of look-at-me social media hustlers Daniel provides a very relevant quick tip for checking whats really motivating you using what he calls the "anonymity heuristic".