“Start at the end game and work your way backwards”. At a round table discussion @mHUB featuring Suzanne Reade of Chicago ArchAngels from the world of VC and Angel investing gives this invaluable advice about how to identify, pursue and close early-stage investments in your start-up. “The goal is to tell the same story no matter how the question is framed so that your investors have a clear view of your offering.”
Paul Cushman, mHUB’s Entrepreneur in Residence, lead the discussion, followed by 10-15 mins for Q+A about early stage investment do’s and dont’s for founders and startups. Suzanne gave an insight packed session, full of sage advice such as:
- the NASA rule: “talk to 100 customers during Discovery”,
- make sure you have good and active advisors
- make sure your financials for years 1 and 2 are both accurate and aligned to your Go-To-Market plan.
- raising money is hard and time consuming
- you may need to look beyond Chicago-based angels but be selective and don’t “shotgun” the market
We would like to thank Jerries Armando Azar Alvarez from mHUB for having set up this meeting that was highly informative for a lot of start-up founders that attended the meeting. This is part of the curriculum that mHUB offers to its members and extended ecosystem.
About Chicago ArchAngels: Suzanne Reade is founder and president of Chicago ArchAngels, a local angel group. The Chicago ArchAngels presents three companies per month to members, covering a wide array of industries, and from locations around the country. Of the 36 companies presenting each year, members typically invest in 6-8 companies. Since 2015, we invested into 52 companies, and of those 46 are still operating. We have had several exits, with more on the way.
We at Numorpho Cybernetic Systems believe in our story being the same and have actually proved it by having ChatGPT summarize each of our chapters in our newly instituted Book of Business Website (https://numorpho.org/ ) to ensure that we are uniform in our portrayal of who we are and what we do. This site will also serve as our due diligence document as we navigate the waters of investor relations to invite VCs to partake in our offering, partners to collaborate and you our supporters to challenge and cheer as we progress with our endeavors.
Henceforth we will be cataloging all our news headlines in this ORG site with brief summaries linked from LinkedIn and other professional outlets.
NI+IN UCHIL Founder, CEO & Technical