share of open capital
valuation before raising
“My Network allows me to reach investors that trusted me.”
I was moving forward with my project and I didn’t plan on raising funds in 2015, but this fundraising solution propelled by my own network appealed to me. I went through the fundraising potential test on SparkUp and I discovered that I could potentially find between 200k and 500k€ within my LinkedIn network alone.
I found the test result to be highly motivating and soliciting my network seemed less complicated as I already knew how to successfully approach it. I was way more comfortable with this process as opposed to publicly display my project on a classic crowdfunding platform.
At first, my project appealed to many people but I couldn’t convert this interest into an investment. After launching my campaign, I started exchanging with experienced people from the industry and it made me realise that the issue lied within my business plan which wasn’t attractive enough. Indeed, in an upright fashion, I felt like it would be better not to do any prevision over 5 years, so we put up a business plan over only 3 years instead, which wasn’t giving a lot of profit perspectives. It was only forecasting the tough years.
My campaign was also disrupted by the Paris attacks. The event considerably slowed down the process. The potential investors were petrified and didn’t pay a lot of attention to my message.
Alas, the final element of struggle was wasting a lot of time with someone that had agreed to invest and that I mistakenly took for granted before we had even settled on the investment conditions.
That is what I was looking for when I decided to go with SparkUp: I didn’t solely want to raise funds but find investors capable of being proper partners involved in Coachline’s success.
According to me, the most important thing is how best to use your own network and I wouldn’t have been able to do it by myself.
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