Now you’ve raised cash and developed a relationship with your VC. How can you get the most out of this relationship? Focus on the following areas:
– VCs can provide an update on the status of your funding round, such as how much money has been raised, what the timeline looks like, and what the next steps are.
– VCs can provide valuable insight into how to extend your cash runway, such as providing additional funding, helping you secure additional investors, or providing guidance on how to reduce costs.
– VCs can provide valuable resources and connections to help you grow your business, such as introducing you to potential partners, providing access to industry experts, or helping you to secure additional funding.
– VCs can provide advice on how to increase your revenue, such as providing introductions to potential customers, helping you to develop a better pricing strategy or offering advice on how to better market your product.
– VCs can provide guidance on how to cut costs without damaging your business, such as helping you to identify areas where you can reduce spending or providing advice on how to streamline processes.