Laura Baldwin is the Managing Director of Golden Seeds, an angel investment network that invests in women owned and women led businesses. In our conversation she share the foundational elements that every founder should know when looking to bring on investors to their business. Laura discusses more about Golden Seeds and their office hours, the types of businesses that need outside funding, the different stages of funding, and what investors look for when looking to invest.

Golden Seeds

Golden Seeds is a national angel network that invests solely in women owned and women led companies. Laura runs the Dallas chapter.  Golden Seeds offers monthly office hours to any women owned or women led businesses. They are informal, with members and guests listening to entrepreneurs give a pitch or talk about their business. Often, the companies that attend may not be right for Gold Seeds investment, and therefore they may suggest other resources to the companies and always offers feedback and recommends that the companies stay in touch.

101 of funding

If starting a business and at the pre-revenue stage, first ask friends and family for funding. You should try to fully explore this option fully.  Next, when starting to generate revenue, you should seek outside capital in the pre-seed and seed rounds. First, seek investors who are willing to invest in riskier early-stage companies. Then, the next stage, when you have solid revenue growth, is seeking angel funding – this is where Golden Seeds comes in. Following this stage is VC funding for businesses that really want to grow and scale. VC funds make larger investments and require that you give up more control of your business, therefore you should ensure you choose a VC investor who you can have a good working relationship with.

What investors look for and what you should include in your pitch

For many investors, including Laura, it is about the jockey not the horse. They seek people who can take advice and are coachable, are willing to pivot, are confident and committed, and will do whatever it takes, not taking no for an answer.  You should know what the problem is that you are solving and how, what your product or service is, how you are generating revenue, and what the total addressable market (TAM) is. You should be aware of who your competitors are and what you company offers that others don’t. Also, you should discuss your exit strategy, whether you have patents or IP protection, who is on your team and what their background is, and you should have some idea of financial projections. Finally, you should have a specific ask.  This is an often overlooked step. 

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