May 15, 2022
3.1 Raja Skogland from The Visionary Company on investor readiness, building marketplaces and materialising your dreams and ideas
...and we're back with Season 3 of the Tippy Top Podcast!
If you're an entrepreneur and looking to raise - are you investor ready?
Do you know what being investor ready actually means?
This exciting episode features the multi-talented Raja Skogland, founder of The Visionary Company in Norway and investor in 50+ start-ups. Investment banking, community building, creating start-ups, running incubators/accelerators, investing in start-ups and exiting a few, Raja really has done it all. You'll learn that there is little that Raja doesn't know about start-ups.
Since 2015, Raja has been helping 1,000s of entrepreneurs build their network, gain knowledge, and access capital, to be able to start and successfully grow their company. From 2016 to 2018, she launched and managed thehub.io growing the platform to over 1,200 start-ups and 100,000 unique visitors per year. In 2019, her company launched the first online accelerator for start-ups in the Nordics, which was acquired by TheFactory.no. Later Raja became CEO at TheFactory - awarded best accelerator in the Nordics in 2019, where she was helping founders grow their business and get Investor Ready. Recently Raja started The Visionary Company, where she helps startups gain traction and get Investor Ready, while also helping aspiring angel investors build a portfolio of start-ups.
Main topics and learnings:-
1. Investor readiness - what investors want to see:
1.1. Investor readiness means you have a solid business. It has nothing to do with paperwork.
1.2. Investors are looking for a solid, sustainable, scalable business that could be profitable one day.
1.3. Investors want to see traction, a product roadmap, go-to-market strategy, strong team, previous exits, good entrepreneurship Universities, passion, vision, a numbers orientation and a superpower in something like branding or fundraising.
1.4. Your business must always solve a strong problem!
1.5. The best resource to get investor ready is an online accelerator.
2. How to grow a marketplace start-up:
2.1. Marketplaces are hold to monetise and usually not attractive to most investors.
2.2. It's much easier to build an offline community first than try build an online market place from scratch.
2.3. Go niche at first and build loyal customers. Then build the next product iterations alongside them. You don't need to think of everything yourself!
2.4. Zebra-unicorn 'Head of Growth' people do exist but they cannot solve all of your start-up's problems. Timing is also everything when looking for a resource to help you scale quickly.
3. Materialising your dreams and ideas - insights from a seasoned coach:
3.1. Start entrepreneurship as early as possible. Failure is part of the learning process so you need time.
3.2. You can always go back to your job. Life is short. You will learn loads from your start-up and probably come back at the same position or higher in the company. There's no good reason to not pursue your start-up dream.
3.3. Coaching helps you step back and get a reality check. Much like a start-up Board.
3.4. Leave your ego at the door when building your start-up. Keep hungry, keep humble.
At the end of the day, being investor ready isn't all about investors. It's about being ready as an entrepreneur/team, being ready for your customers, and last but not least, being ready for your investors (because they really just want you to succeed!).
Thanks for tuning in,
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