From Struggle to Success” Getting an investment

From Struggle to Success” Getting an investment

One more great news! Our friends from BethClip got their second investment and we are really happy for them. We want to congratulate them for the great work. We decided to interview Rashid Aliyev for the second time about getting an investment, as this is one of the main struggles of almost every entrepreneur. You can also read their first interview “From Struggle to Success”It is all about the team and follow their journey.

1. Where were you looking for investment?

We were looking around world, online and offline. We were attending events and meetings.

2. How long it took to get one?

Averagely it takes from 3 month to 1 year. Currently it takes about 3 month to get an investment.

3.What was the process like?

We were meeting with investors on events and we were having different discussions. Getting to know people in this place and also doing networking. We were asking investors what they were doing and talking about what we were doing and our business. If it’s the right (interested) person, then we were doing elevation pitch. Sometimes you agreed to send e-mail with pitch deck and information, sometimes to meet in office. After few mailings/meetings, you both decide to go to strategic talkings, calculations and pricing. After all, if agreed in equity, document checks are starting.

If all goes ok the next steps are signing contracts and waiting payments.

4. What was the main struggles?

Of-course you are trying to give less equity, investors try to get more. Main struggle is (if there is one) previous investors talks and agreements.

5. What is your advice to other entrepreneurs when looking for investment?

 Just be patient. It takes long time. Try to follow, not too much, but also not so less.

6. Can you tell me just a bit about your second investment and how you plan to develop the company?

We agreed to make strategic changes in product and go to market and start sales with the second investment. This investment is mostly for development of paid subscriptions and sales, as well as subscription functions. We are finally enabling paid subscription (From February 2016)

If you want to learn more about the company, you are more than welcome to contact them at: info@bethclip.com

We hope you enjoyed reading this story and if you want to share your own great story, please contact us at: ja@wingzit.com

I have experience in both business and information technology fields. I am a co-founder of WingzIt, a company focused on helping and supporting entrepreneurs to develop their ideas and turn them into successful businesses. Our goal is to increase the rate of successful entrepreneurs by providing them with tools and knowledge at one place.
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I have experience in both business and information technology fields. I am a co-founder of WingzIt, a company focused on helping and supporting entrepreneurs to develop their ideas and turn them into successful businesses. Our goal is to increase the rate of successful entrepreneurs by providing them with tools and knowledge at one place.

Comments

  1. Good Day to You Joanna,

    What a wonderful story and interesting App!

    I’m about to purchase a new domain name for an Affiliate Marketing site.

    It is so helpful to see a story about a startup making progress.

    Being more of a “helper”, not a “seller”, makes it difficult to deal with the different affiliate programs and all the sales pitches.

    I’m putting people first.

    In fact, the first two words in the new name are “Customer First”.

    A mindset that hopefully will have more meaning with practice, over time.

    I follow your blog, and just tweeted twice!

    Once for each post on BethClip.

    The next time I have to drive to Boston from Maine, this app just might make it easier than using a GPS that keeps losing its connection.

    A truly innovative and needed solution!

    Thank you for this these uplifting and informative posts!

    My Best to You
    Arthur Strout (Arth)

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