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Timestamps:
03:52 - Building Trust with Potential Investors
07:54 - How to Split Your Time Fundraising and Managing Your Business
08:57 - Who Should be Involved in the Fundraising process
10:48 - The Advisory Board's Role in the Fundraising Process
15:29 - How Long the Fundraising Process Takes
About Julie Maples:
Julie Maples is a co-founder and managing director at FYRFLY Ventures, where she has made investments in companies such as Boundless, Rosalyn.ai, and Mobi Systems, among others. She also serves on the board of the V Foundation, a non-profit organization that supports cancer research. At The Wharton School, she earned a BS in entrepreneurial management and an MA in Finance.
In this episode, Julie talks about raising funds and managing the demands fundraising takes on your time as a founder. As a founder, you should build trust with potential investors, determine who should be in charge of raising money, and divide your time well between fundraising and managing your business.
It has always been difficult for entrepreneurs to separate their personal life and their professional lives. No single issue should consume all of your time as a founder, especially not fundraising. It's equally important to protect your mental health as it is to achieve your next milestone. It will always be an easier and more successful journey if you tend to yourself.
Memorable Quotes:
“As a founder, it is important that you have an advisory board that opens doors for you.”
“It is important to keep a pulse on the status of the business to know when you are underperforming.”
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