Entrepreneurship

Eight Things You Can Do to Convince Investors to Fund Your Startup

Published

2 years ago

October 1, 2024

The million-dollar question that haunts every entrepreneur launching a startup is:

How do you fund your startup? How do you gather the necessary funding to kickstart your company? How can you convince investors to finance your project? How can you avoid the long and exhausting journey of rejection that many entrepreneurs face when seeking funding for their startups?

As a founder of a startup, you will be judged based on your results. You are the one who will secure the funding or face criticism, adjustments, or even rejection—not anyone else on your team. It may not seem fair, but that’s the reality.

Here, we attempt to break down this challenge to reach the goal: How do you secure funding for your startup by presenting it to investors?

The Money Machine

One of the best pieces of advice to understand about funding strategies is to think of the process as a machine.

For any machine to work smoothly, all its parts must be in place before starting. Once you press the “start” button, the machine will likely run at its best.

Startups are like a well-tuned machine, where each department—investor relations, public relations, customer service, etc.—has its own responsibilities. A complete system drives the engine, and such a system can also convince any investor to provide the required funds.

Unfortunately, not all startups have specialized departments for securing funding, but they can create a section that focuses solely on gathering investments.

How does this machine work? Through five key steps:

Building Relationships

Build relationships that ultimately lead to securing funding for your startup. Before asking for money, establish enough rapport to address any issues that may arise as you lead your company. The investor should know more about you and your project in a friendly manner, or at least in a tension-free environment.

At that point, the investor understands your challenges, ambitions, and management team, offering help along the way.

When you have a relationship built on trust, not just business, you can have personal conversations, discuss challenges, and communicate openly.

Understanding Investor Habits and History

Just as you need to know your customer, it’s equally important to understand your investors and their tendencies. Different investors view the world differently. Some prefer to invest in the latest, most exciting projects, enjoying the risk associated with ideas that have a slim chance of success but offer enormous potential returns.

Others, who are more conservative, look for less flashy areas but ones with a higher likelihood of delivering good returns.

The key point is that some investors’ decisions to fund your startup may have nothing to do with your project at all.

Their decisions are based on their investment philosophy—whether they prefer to fund specific types of startups or sectors. Therefore, you should understand your investor’s habits and history to know the kind of projects they typically fund. This prevents you from being surprised by rejection, even if your idea is solid.

It could simply be that they’re not interested in the field you’re working in from the start.

Build Credible References

The investor you approach will undoubtedly search for your name on Google. If they don’t find a digital presence for you, they’ll be interested in references.

They’ll want to read about and connect with distinguished people who support you and vouch for your ideas. Work on establishing a solid network of references—at least three credible individuals who can speak highly of you.

How can you do this? Be kind, avoid showcasing your failed projects, and build positive relationships with people. Maintaining a clean professional record throughout your career will help you secure funding, as investors will trust you and your career path.

You can’t buy people’s praise if you haven’t genuinely earned it. Do things worth praising, and maintain good relationships with everyone.

Highlight the Exceptional

What’s extraordinary about you, your personality, and your business? Make that the focal point. Always emphasize your strengths and shine a light on them far more than you do on the challenges or weaknesses you’re facing.

Sell yourself and your business, and investors will take your company seriously. After reviewing your personality, company, and team, they will either reject you—if you’ve failed to present yourself well—or offer you the funding amount you’re seeking.

Don’t be dull; show them why you’re different. You need to convince them that your company is exceptional, which means you can’t rely on average or boring metrics to evaluate it.

Here, you’re appealing to the emotional side of the investor, encouraging them to fund your startup not just because you need money but because you’re passionate about creating something new and remarkable.

Never Say: “I Don’t Know”

Once you’re sitting in front of an investor and they start asking questions, never say “I don’t know.” If they ask about the size of the market, answer quickly. If they inquire about a specific machine needed to start the business, tell them where it can be sourced and provide its cost.

If they ask about your competitors, list them by name and mention their strengths. If they request a feasibility study, give it to them immediately.

Whatever they ask—big or small—be prepared with clear, ready, and fast responses.

If you’re not fully familiar with every aspect of your project, don’t meet the investor until you have answers to every question.

Have All Your Documents Ready

All your statistics, papers, business models, and the complete business plan should be with you. Additionally, you must have the financial investment details, including the financial projections, profit and loss statements, cash flow statements, and budget forecast.

If you don’t have these documents or haven’t sent them to the investor beforehand, it shows you’re not serious about funding your startup; you’re just looking for a casual chat with an investor who has too much time on their hands.

That’s rare and unlikely. Be fully prepared with all necessary presentations and documents.

Don’t Take Things Personally

There will be many ups and downs during the funding process, and you will hear a lot of “no.” You must understand that you can’t control other people’s decisions. A potential investor might have a bad relationship with one of your board members, which led to their refusal to invest.

Another investor might have had a negative experience with a company similar to yours recently. There’s nothing you can do about that. Focus only on what you can control—building your machine and maintaining it. If you can do that, the next funding experience will go more smoothly.

Entrepreneurship

New Study Highlights Top 10 In-Demand Skills in Bahrain’s Labour Market

Employers prioritize bilingual communication, digital literacy, and leadership as Bahrain advances toward a diversified, knowledge-based economy

Published

1 year ago

May 16, 2025

Arab Founders

A new study conducted by Quality Code Consulting in collaboration with the Bahrain Society of the Private Training Institutes (BSPTI) has identified the top 10 skills most in demand across the Kingdom’s job market, providing fresh insight into what employers are looking for as the country pushes toward a knowledge-driven economy.

The research—based on input from 309 stakeholders, including employers, job seekers, educators, and recent graduates—reveals a strong emphasis on bilingual communication, teamwork, and digital adaptability.

Communication and Collaboration Take the Lead

At the top of the list is proficiency in communication, particularly fluency in both Arabic and English. These skills are seen as essential across nearly every sector in Bahrain’s economy, including services, banking, technology, and tourism.

Closely following are teamwork and collaboration abilities, which are increasingly essential in a landscape where cross-functional and multidisciplinary teams are becoming the norm. These skills are seen not just as functional but critical to boosting problem-solving, execution, and innovation.

Digital Fluency, Critical Thinking, and Customer-Centricity

The study also underscores the growing need for digital literacy—defined as the ability to efficiently use digital platforms and IT tools—as well as the importance of adaptability and flexibility in a fast-evolving, tech-driven marketplace.

Also ranking high were:

Problem solving and critical thinking
Customer relationship management

Both are viewed as foundational in service-oriented industries, which remain a key part of Bahrain’s economic makeup.

Innovation, Leadership, and the Entrepreneurial Mindset

Employers across sectors also placed a premium on leadership and initiative, especially in roles focused on transformation, change management, and innovation. Creativity and emotional intelligence were cited as equally important, particularly in high-pressure, customer-facing roles where interpersonal awareness is vital.

Rounding out the list is the entrepreneurial mindset—the ability to identify, pursue, and implement new opportunities. This skill is increasingly seen as critical for driving economic diversification, a cornerstone of Bahrain’s Vision 2030 goals.

Empowering Bahrain’s Workforce for the Future

“This study represents a critical milestone in understanding the real-world needs of Bahrain’s employers,” said Nawaf Al-Jishi, Chairman of BSPTI. “By aligning training programs with these core skills, we can enhance the employability of Bahraini talent and contribute meaningfully to the Kingdom’s economic transformation.”

Dr. Chris Coates, Senior Researcher at Quality Code Consulting, added that the study tracked recovery trends across 17 key sectors, including trade, finance, tourism, and logistics. Participating organisations ranged from industry leaders to high-growth ventures.

“There is a clear synergy between these skills,” said Dr. Coates. “For example, effective communication enhances collaboration and reinforces leadership capabilities. Bahrain’s future workforce will be built on professionals who master both technical and human-centric competencies.”

Entrepreneurship

The ‘Fatal Mistake’ That Kills Startups Before They Start, According to Stanford Professor and Serial Founder

Steve Blank, who co-founded four tech startups and teaches entrepreneurship at Stanford, reveals the critical error founders keep making — and how to avoid it.

Published

1 year ago

April 17, 2025

Arab Founders

When it comes to launching a startup, Steve Blank has seen it all. As a seasoned entrepreneur, having co-founded four tech companies and written multiple books on entrepreneurship, Blank’s insights carry the weight of hard-earned experience. Today, as an adjunct professor at Stanford University, he shares a warning for every aspiring founder: most startups are doomed before they even begin, thanks to a simple but devastating mistake.

That mistake? Building a product before understanding the customer.

“I’ve seen this a million times,” Blank says, reflecting on his decades in Silicon Valley. Founders get captivated by their own ideas, pouring time and resources into building solutions that no one has asked for. They become so enamored with their vision that they forget the most fundamental question: Who is my customer, and what do they actually want?

The Dangerous Trap of ‘Build First, Sell Later’

Too often, Steve Blank explains, entrepreneurs come up with a business idea, race to develop a product, and only then start thinking about how to sell it. This backward approach is what Blank calls the “fatal mistake.”

“It’s not: ‘Here’s what I’m building. Can I sell it to someone?’” he emphasizes. Instead, successful founders start by deeply understanding their target customers. “The most important [question] is: ‘Who are my customers?’ And the second is: ‘What do they want?’”

Blank’s philosophy is backed by other successful entrepreneurs. Alberto Perlman, co-founder and CEO of Zumba Fitness, echoes this sentiment: “You have to always be listening, and listening between the lines, to your customer.”

Investor and Shark Tank star Robert Herjavec agrees, noting that failure to understand customer needs can spell disaster: “It’s natural to get attached to your product or service, but success hinges on seeing its value through the customer’s eyes.”

Lessons From Personal Failure

Steve Blank speaks from personal experience. In the early 1990s, he co-founded Rocket Science Games, raising an impressive $35 million and earning a feature in Wired magazine. On paper, the company looked like the next big thing. Talented engineers? Check. Polished game trailers? Check. Buzzworthy marketing? Check.

But there was a problem: the customers didn’t care.

“The games sucked,” Blank admits. They failed to resonate with gamers, and sales never took off. The company folded in 1997 in one of Silicon Valley’s most high-profile startup failures.

“The biggest killer for me, and the biggest failure, was hubris,” he reflects. “Don’t believe your own bulls—. It’s really easy to get convinced about your passion and your vision.”

Had he sought early customer feedback, Blank believes Rocket Science Games could have either pivoted or avoided the failure altogether. It’s a lesson that has shaped his teaching ever since.

Get Out of the Building

Blank champions a practice he calls “getting out of the building.”

This means stepping away from your desk, abandoning spreadsheets, and having real conversations with potential customers. Listen not only to what they say, but also to what they don’t say. Explore their frustrations, needs, and desires. Observe how they currently solve the problem you’re trying to address.

“The best insights come from direct, unfiltered customer feedback,” Blank insists. He teaches students and startup founders alike to embrace this proactive approach, using it to validate their assumptions long before they invest heavily in building a product.

Avoiding the Hubris Trap

Perhaps the most dangerous pitfall for founders is falling in love with their idea at the expense of reality. Blank calls this the “hubris trap.” Passion is important, but unchecked enthusiasm can blind even the smartest entrepreneurs to warning signs.

“Success comes from humility and curiosity,” Blank explains. “Assume you know nothing, and let your customers teach you.”

He points to the lean startup methodology as a way to mitigate this risk: start small, test assumptions, iterate based on feedback, and only scale once product-market fit is clearly established.

Building With Customers, Not For Them

Ultimately, Blank’s advice is simple but profound: don’t build in isolation. Involve your customers in the process from day one. Let them help shape your product, and your chances of success will skyrocket.

“It’s not about building the perfect product in a vacuum,” he says. “It’s about building the right product with your customers.”

For aspiring founders, this mindset shift could make the difference between startup success and failure. Take it from someone who has seen both sides of the journey—and who now dedicates his career to helping others avoid the same pitfalls.

Entrepreneurship

GoDaddy Study: 63% of Egyptian Women Entrepreneurs Are the Primary Breadwinners for Their Families

GoDaddy’s 2025 Global Entrepreneurship Survey highlights the growing role of Egyptian women in business and their adoption of AI to streamline operations.

Published

1 year ago

March 12, 2025

Arab Founders

A recent study by GoDaddy, the 2025 Global Entrepreneurship Survey, has revealed that 63% of Egyptian women entrepreneurs serve as the primary financial providers for their families. The report underscores how these women are embracing technology and artificial intelligence (AI) to enhance business efficiency and unlock new opportunities in the post-pandemic economic landscape.

Women’s Growing Role in Egypt’s Entrepreneurship Scene

The study found that 53% of small businesses surveyed in Egypt are owned by women, with 27% of them launched in the past five years. This reflects the resilience and adaptability of female entrepreneurs, particularly in navigating the economic challenges that followed the COVID-19 pandemic.

AI Adoption Driving Business Growth

Egyptian women entrepreneurs are not only managing businesses but are also leading in AI adoption to scale operations. The survey found that:

93% of respondents expressed confidence in their business skills.
96% believe AI will enable their small businesses to compete with larger firms in the coming year.
AI tools save them an average of 19 hours per week, equivalent to two full workdays.

Entrepreneurs are leveraging this saved time for:

Learning new skills (51%)
Analyzing business performance (50%)
Managing day-to-day operations (48%)

Financial Independence and Business Confidence

The study highlights that women-led businesses are contributing significantly to the local economy, not just by generating income but also by creating jobs. 62% of female entrepreneurs in Egypt feel optimistic about their business prospects, while 74% believe their ventures will expand within the next three to five years.

Women entrepreneurs also reported high satisfaction levels with their ventures, particularly in:

Introducing new products or filling market gaps (48%)
Developing management skills (40%)
Creating job opportunities for others (40%)

The Role of AI in Women-Led Businesses

AI-powered solutions such as GoDaddy Airo® have played a key role in helping entrepreneurs simplify complex business tasks. This tool enables small business owners to:

Build websites and logos effortlessly
Develop digital marketing strategies
Enhance online visibility through AI-driven SEO optimization

Selina Bieber, Vice President of International Markets at GoDaddy, commented:
“AI-driven tools like GoDaddy Airo® empower women entrepreneurs by saving them time, allowing them to focus on business growth, personal development, or family responsibilities. The success of Egyptian women in business is inspiring a new generation of female entrepreneurs.”

The survey also revealed that 93% of women entrepreneurs believe their businesses have improved their quality of life, providing a sense of fulfillment and empowerment.

GoDaddy’s Commitment to Women Entrepreneurs

GoDaddy continues to support millions of entrepreneurs globally by offering business-building tools, including AI-powered solutions for digital branding, e-commerce, and customer engagement. The company’s 24/7 expert support ensures small business owners have the guidance they need to succeed.

About the 2025 GoDaddy Global Entrepreneurship Survey

Conducted by Advantis Research in January 2025, the GoDaddy Global Entrepreneurship Survey examined small business owners across 12 countries, including Egypt, Saudi Arabia, the UAE, India, Germany, and Brazil. The study surveyed 3,504 business owners, with 500 respondents from the MENA region, all operating businesses with 1-49 employees.