The biggest mistake you can make when pitching your company to a crowdfunding platform is to over-value your company. A good business idea is a powerful thing but without funding it will likely come to nothing. So don’t make the mistake of assuming the idea is worth more than the funding that will make it a reality.
The funds were raised in four rounds starting March 26, 2012. The initial shares were offered at 3 cents but by round four, they were going for over three times that at 10 cents. All in all, 21 investors participated in the raising including two senior figures in the SMSF and accountancy fields: Ron Lesh and Peter Jones.
With his capital raising process fast approaching its climax, Steve Sherlock offers up what he think he did right and wrong over the past three-months of capital seeking (and writing about it in this series).
When I embarked on my current search for new funding, I thought I was familiar with most of the likely sources: friends (relatives and fools), angels, angels with teeth – Venture Capital (VC), strategic investors (the Holy Grail), an IPO or Lotto.
But it turned out there was one I wasn’t aware of…
When I embarked on my current search for new funding, I thought I was familiar with most of the likely sources: friends (relatives and fools), angels, angels with teeth – Venture Capital (VC), strategic investors (the Holy Grail), an IPO or Lotto.
But it turned out there was one I wasn’t aware of…
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