| | Dec-2019 - Jen-20208OPINIONIN MYSIX THINGS YOU NEED TO SECURE VC FUNDINGIf there is one question I'm most often asked as a VC, it is: "How do you decide to fund one company and not another?" I always tell people the same thing and want to share it with you here. At Blumberg Capital, we follow the Six T's that a wise man taught us.1) Start with the theme: Tell us the problem you're solving. Be crisp, articulate and brief. The most important step is to find the right problem. As strange as it may sound, this is much harder than finding the solution. In many cases, entrepreneurs need to demonstrate that customers will be willing to switch from what they're currently using and pay for a new solution. For example, the founding team at Lendio clearly recognized a problem for SMBs ­ the inability to borrow at affordable terms. SMBs need more access to loans and Lendio solved this problem by creating a marketplace where businesses can find loans that best meet their needs. Lendio showed us the problem and explained how they could solve it. That's the theme.Setting and achieving realistic milestones is good way to keep operators and investors aligned. It's all about the teamDavid J. BlumbergBy David J. Blumberg, Founder and Managing Partner, Blumberg Capital
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