khendricks7
New member
Six months ago, I temporarily moved to the United States to find investments and launch a startup that had previously been operating in my home country. Our mobile application, has been working for a year and a half. While we had a modest user base, turnover, and traction, we had no clients or transactions in the USA, even though all monetary transactions went through our US company.
My goal was to immerse myself in the market, study the target audience, adapt the application to the US, and simultaneously find funding to promote the current version and launch a new one.
I haven't gotten to the offline search for an investor yet, but the online search didn't work for me at all. As a result of mailing the intro and pitch deck to relevant investors, as well as reaching out to contacts on LinkedIn and Facebook, I received almost no responses.
Results:
If someone needs help on how not to find an investor, please feel free to contact me. I will gladly share my advice.
My goal was to immerse myself in the market, study the target audience, adapt the application to the US, and simultaneously find funding to promote the current version and launch a new one.
I haven't gotten to the offline search for an investor yet, but the online search didn't work for me at all. As a result of mailing the intro and pitch deck to relevant investors, as well as reaching out to contacts on LinkedIn and Facebook, I received almost no responses.
Results:
- 300 sent applications
- 282 ignored without any response
- 11 said it was not in their interests
- 5 asked for clarification and disappeared from communication
- 2 said to let them know when the lead investor will be
- Cold online search for an investor does not work.
- A complex idea is difficult to sell, especially through cold contact. A simple idea - someone has already sold.
- Without real traction in the USA with good growth rates - few people are interested in you.
- Do not believe someone who promises to help but asks to pay first.
- It is probably more effective to go offline and find investors through connections and referrals. But it is not a guarantee.
If someone needs help on how not to find an investor, please feel free to contact me. I will gladly share my advice.