Here's How This Successful Startup Founder Says You Should Be Fundraising
James Giancotti
One way is to get rated by Oddup  a research platform that rates startups the same way equity research analysts rate and recommend the shares of publicly listed companies. Oddup has seen tremendous success  closing a $6 million Series A round in the spring. For founders looking to get on Oddupâs radar   CEO James Giancotti  reveals some factors  the company  looks at when considering whether to rate new startups. Not only does Oddup look at the founders when building a profile they also analyze the startupâs investors  team and location.
During Oddupâs Series A round   Giancotti  gleaned valuable insight into the fundraising process  he  hopes can help founders who are facing the same situation.
âSome people look at fundraising like itâs a hobby. Itâs not. You have to put in a lot of time and hard work. You must also answer the question: Whoâs going to be your investor? Like any relationship  you want investors you love working with who can also make connections for you and help your business grow to the next level. Be selective and donât be afraid to say no. We did. Itâs not egotistical. Itâs about finding the right fit â explained  Giancotti .
If youâre wondering how to spot good investors  Oddup has you covered with their investor ratings.  Giancotti  said they look at an investorâs entire portfolio for their rating  not just the shining stars. By going that route  their ratings reflect the whole picture.
âI like the analogy that youâre only as good as the children you have â  Giancotti  said. âIf you have one amazing child and one terrible child  even though you love them all  thereâs one that really stands out. All the children â the startups â factor into our investor ratings. How many have sold? How many failed? Whatâs the traction on each of them? Youâve got to evaluate the companies that investors are getting money from.â
As startups grow  one mistake founders make is focusing on themselves at the expense of the company. When companies have a few employees  the founderâs involvement is crucial. When the team grows to 50 people  smart founders look to hire someone else who can grow the company long after theyâve left the picture. If youâre a founder going through a round of funding  stay focused on your company  not yourself.  Giancotti  also advocates planning early for how your startup will raise funds. âIf youâre raising money to survive â  he  said  âyouâre already out of time.â
When youâre trying to gain momentum for your startup and get it off the ground  youâll probably have people tell you that your idea is terrible. When you begin to request funding  youâll likely face repeated rejection. As  Giancotti  points out  hitting a wall shouldnât stop you in your tracks. The successful founders learn to take everything in stride.
âAs a founder  youâve got to take criticism as an opportunity to prove people wrong â  he  said. âWhen we started pitching Oddup  we had a lot of people saying our idea was stupid  it wouldnât work and that we shouldnât do it. Now the same people want to invest in us. Itâd be easy to be upset with them  but thatâs pettiness  and you shouldnât be petty as an entrepreneur. At least they cared enough to give you an opinion.â
Thereâs one final key to being a successful founder that isnât talked about enough. After Oddupâs Series A round   Giancotti  was told something that all startup founders need to hear: âYou guys are destined to be a billion-dollar company  but you need to stay alive for it.â Good health   Giancotti  knows  is as much about effective stress management as  it  is keeping your body in shape with regular exercise and a nutritious diet.
âFounders must focus on both their mental and physical health. This job takes a lot out of you. Even if youâre physically healthy  the mental part can wear you down just as much. You need the right headspace to be successful in the long run â says  Giancotti .
One way is to get rated by Oddup  a research platform that rates startups the same way equity research analysts rate and recommend the shares of publicly listed companies. Oddup has seen tremendous success  closing a $6 million Series A round in the spring. For  [TGT] reveals some factors  the company  looks at when considering whether to rate new startups. Not only does Oddup look at  [TGT]  when building a profile  [TGT]  also analyze the startupâs investors  team and location.
During Oddupâs Series A  [TGT] gleaned valuable insight into the fundraising process   [TGT]   hopes can help founders who are facing the same situation.
âSome people look at fundraising like itâs a hobby. Itâs not. You have to put in a lot of time and hard work. You must also answer the question: Whoâs going to be your investor? Like any relationship  you want investors you love working with who can also make connections for you and help your business grow to the next level. Be selective and donât be afraid to say no. We did. Itâs not egotistical. Itâs about finding the right fit â explained  Giancotti .
If youâre wondering how to spot good investors  Oddup has you covered with their investor ratings.   [TGT] said they look at an investorâs entire portfolio for their rating  not just the shining stars. By going that route  their ratings reflect the whole picture.
âI like the analogy that youâre only as good as the children you have â   [TGT] said. âIf you have one amazing child and one terrible child  even though you love them all  thereâs one that really stands out. All the children â the startups â factor into our investor ratings. How many have sold? How many failed? Whatâs the traction on each of them? Youâve got to evaluate the companies that investors are getting money from.â
As startups grow  one mistake founders make is focusing on themselves at the expense of the company. When companies have a few employees  the founderâs involvement is crucial. When the team grows to 50 people  smart founders look to hire someone else who can grow the company long after theyâve left the picture. If youâre a founder going through a round of funding  stay focused on your company  not yourself.   [TGT] also advocates planning early for how your startup will raise funds. âIf youâre raising money to survive â  he  said  âyouâre already out of time.â
When youâre trying to gain momentum for your startup and get it off the ground  youâll probably have people tell you that your idea is terrible. When you begin to request funding  youâll likely face repeated rejection. As   [TGT] points out  hitting a wall shouldnât stop you in your tracks. The successful founders learn to take everything in stride.
âAs a founder  youâve got to take criticism as an opportunity to prove people wrong â  he  said. âWhen we started pitching Oddup  we had a lot of people saying our idea was stupid  it wouldnât work and that we shouldnât do it. Now the same people want to invest in us. Itâd be easy to be upset with them  but thatâs pettiness  and you shouldnât be petty as an entrepreneur. At least they cared enough to give you an opinion.â
Thereâs one final key to being a successful founder that isnât talked about enough. After Oddupâs Series A round   Giancotti  was told something that all startup founders need to hear: âYou guys are destined to be a billion-dollar company  but you need to stay alive for it.â Good health   Giancotti  knows  is as much about effective stress management as  it  is keeping your body in shape with regular exercise and a nutritious diet.
âFounders must focus on both their mental and physical health. This job takes a lot out of you. Even if youâre physically healthy  the mental part can wear you down just as much. You need the right headspace to be successful in the long run â says  Giancotti .