A Black Founder’s Guide To Raising A $2M Institutional Seed Round

The Journey

The road to successfully raise an institutional round is hazardous and extremely hard for any founder and downright impossible as a minority, particularly as a black founder where, according to CrunchBase, only 1% are expected to reach the milestone.

The Love

It starts with love, and you have to be willing to lose everything to turn your brilliant idea into a reality. As Tony Robbins stated, “if you want to take the island, you have to burn your boats, “ because people when they are going to either die or succeed, tend to succeed.”

The Validation

The startup building process is a game of validation, plain and simple.

  • Business strategy advice
  • Industry best practices

The Team

The team is the most crucial part of this equation. I was fortunate to have worked with Sam Ribas, a lead producer at Miniclip, who also happened to own a Master of Computer Science. Serendipity put us in a situation where he was transitioning out of Miniclip as I was launching the first iteration of our credit building platform.

The Discipline and Relentlessness

Antifragility is roughly defined as things that gain from chaos. Over the years, as a unit, we became Antifragile, as each new challenge forced us to perform at a higher level.

  • Challenges
  • Opportunities
  • Next Focus
  • Performance Data Highlights
  • Technology Report
  • Operations Report
  • Compliance Report
  • Customer support and lending operations Report
  • General operations Report

The Art of Communicating

Fundraising is all about building trust, and trust is built with time and consistency. The advantage of creating weekly reports is that it makes it easier to generate a monthly report that can be shared with prospective investors and VC funds.

  • Build trust
  • Maintain relationships with prospective investors

The Art of Pivoting

Pivoting can be defined as sticking with the original vision while adjusting the tactics along the way, or simply put being flexible.

Mindfulness and Journaling

The single most difficult part of the startup building process is to figure out ways to remain mentally sane during the inevitable ups and downs.

The Conclusion

It’s never enough; the struggle will enhance your product, the struggle will extract the very best version of yourself, and it will press you to read and learn more than you ever had. In the end, it’s never enough; it’s a constant battle of getting better each and every day relentlessly.

Love it all. Get it done.

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